Two family investment groups have been given permission by the National Football League to purchase a minority ownership in the Philadelphia Eagles.
According to a league source, the Eagles are valued at $8.3 billion and the transaction is for an 11% ownership part in the team.
At an NFL owners’ meeting in Dallas on Wednesday, the sale was approved. It does not include the stadium or any other assets; it just comprises the sports team.
According to the source, longtime owner Jeffrey Lurie will continue to have a majority stake in the franchise.
In September, the Philadelphia Eagles were ranked ninth in terms of value at $7 billion by CNBC’s Official NFL Team Valuations. Control stakes are the basis for CNBC valuations.
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With $669 million in 2023, the Eagles ranked ninth in the league by revenue the previous season.
The most recent sale serves as an example of the explosive growth in sports franchise prices, which have been particularly high for the NFL. A league source claims that families, private equity firms, and individuals showed a strong interest in the Eagles’ sale.
Susan Kim, the chairman of the board of the product packaging company Amkor Technology, is one of the Eagles’ newest minority owners. The investor team will also include Olivia Peskowitz Suter and Zack Peskowitz. Ed Peskowitz, the founder of United Communications Group and a former co-owner of the Atlanta Hawks, is their father.
Since 1994, when he borrowed $185 million to purchase the Eagles, Lurie has been the team’s owner.
In addition to winning multiple conference titles during his ownership, the Eagles achieved their first-ever Super Bowl victory in 2018. With an 11-2 record, the Birds are now placed first in the NFC East.
Following the league’s resolution to authorize a private equity investment, Lurie initially revealed in June that he might sell a minority ownership in the team.
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