Yet two more NFL teams are on the brink of selling a minority ownership stake to a private equity firm. According to Daniel Popper of The Athletic, the Chargers have requested approval to sell an eight-percent stake in their franchise to private investment firm Arctos. Meanwhile, the 49ers are making three deals with Bay Area families worth a total of six percent of the franchise (per ESPN’s Nick Wagoner).
Both sales are pending approval during this month’s league meetings. According to Popper, the deal would still leave Dean Spanos and his family with club control and an approximately 61-percent stake in the Chargers. 49ers owner Jed York will be left with 91-percent ownership, according to Wagoner.
After the NFL started allowing private equity firms to purchase limited shares of franchises, we’ve seen a number of organizations looking to deal. The Eagles, Dolphins and Bills all worked out agreements to divest to new owners, while the Giants were recently exploring the idea of a partial sale.
While private equity firms are allowed to purchase shares of NFL franchises, they are not permitted to take on a controlling stake. This explains the generally sub-10-perecent stakes, and with the Chargers and 49ers now joining the fray, we’ll surely see even more teams consider or consummate deals in the coming months.
The most notable part of these sales will be the valuation. Notably, this impending 49ers sale will lead to a record $8.5 billion valuation, according to Wagoner. The Eagles recently made a pair of deals that valued the franchise around $8.2 billion, and the Chargers will surely come in close to this mark. The last majority sale of a franchise came in 2023, when the Josh Harris-led group bought the Commanders for $6.05 billion.