NFL Owners Vote & Approve Private Equity Investments
deadline.comIn a major shakeup, NFL owners have voted to allow private equity firms to buy stakes in teams. The policy allows purchasing up to 10% of any franchise, with the funders not having voting rights on the teams.
In addition, funds can only be invested in a maximum of six teams, and the minimum investment in any franchise is 3%. According to ESPN, the measure was passed by a vote of 31-1, with the Cincinnati Bengals the only team voting against the change. “This won’t change a thing,” NFL Commissioner Roger Goodell said on Tuesday. “This is 10 percent of a team.
All it is is a silent position that would allow access to capital for those teams that wish to offer 10 percent of their team.
They will not be in any kind of decision-making influence in any way. It was very important when we began this that we strengthen the ownership. … We think the single-owner structure has been very valuable … and this does not impact that at all.” The NFL was the last major sports league in the U.S.
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