NFL Set to Let Teams Sell 30% Stakes to Private Equity

Groups of private equity investors may soon be allowed to buy as much as 30% of National Football League franchises.

Proposals under discussion would let buyout firms individually acquire as much 10% of a team, according to people familiar with the matter, who asked not to be identified because the deliberations are confidential.

A special NFL committee is meeting to examine the league’s ownership rules. Talks are ongoing and the percentages may change, some of the people said. A spokesperson for the NFL declined to comment.

The owners will present their findings in Nashville over three days starting May 20, during the second of four annual league meetings. In March, the committee updated owners on its findings but delayed putting forward the matter for a vote.

The committee is led by Chair Clark Hunt, who owns the Kansas City Chiefs. The other members are team owners Arthur Blank (Atlanta Falcons); Jimmy Haslam (Cleveland Browns); Greg Penner (Denver Broncos); and Robert Kraft (New England Patriots).

The group has been discussing the league’s ownership rules since September, when NFL Commissioner Roger Goodell created the panel.

Some private equity firms that have been active in buying equity in U.S. professional teams include RedBird Capital Partners, Arctos Partners and Ares Management Corp.