PE’s investment in NFL
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Had a policy that owners needed to be actual people, not corporate entities.
NFL was missing out on lots of money, which instead flowed to the NBA, Premier League, and MLB among others.
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Team valuations have soared so high that there are few people who can actually afford them.
NFL opening to PE firms so more investment can come into the league.
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PE firms can only own 10% of a team (compared to the NBA where they allow up to 30%).
Small list of approved firms include Ares, Arctic, Sixth Street, Carlyle, CVC, and Blackstone.
Blackstone is the only firm without prior experience investing in sports teams.
Firms are required to hold stakes for at least six years.
