Proprietor Robert Kraft has agreed to promote 8 % of the New England Patriots to 2 traders in a deal that values the franchise at $9 billion, a number of retailers reported Thursday.
Kraft paid $172 million for the staff in 1994 and celebrated three Tremendous Bowl championships within the 2000s and three extra within the 2010s behind head coach Invoice Belichick and quarterback Tom Brady.
In keeping with reviews from CNBC and Sportico, billionaire Dean Metropoulos is shopping for a 5 % stake and Sixth Avenue Capital is buying a 3 % stake.
The minority stake sale is pending NFL approval and doesn’t embrace the MLS membership New England Revolution. The Kraft household nonetheless will personal greater than 90 % of the Patriots.
Sixth Avenue is a personal fairness agency with greater than $100 billion in belongings underneath administration. Its sports activities portfolio contains stakes within the San Antonio Spurs, Boston Celtics, San Francisco Giants and Spanish soccer powers Actual Madrid and FC Barcelona.
Metropoulos is listed by Forbes with a web value of $4.1 billion.
A valuation of $9-plus billion can be the second-richest ever for an NFL staff. The New York Giants had been valued at greater than $10 billion when the Koch household agreed to purchase a ten % stake earlier this month.
–Subject Degree Media
