May 23, 2024 - Business

NFL owners punt on private equity ownership vote

Dan Primack

Animated illustration of an old-timey cash register, with four tabs with footballs on them popping up. — Illustration: Brendan Lynch/Axios

National Football League have chosen not to vote on a proposal to allow private equity investment in franchises, although negotiations are continuing.

Why it matters: The NFL is the last major U.S. sports league to eschew private equity, with even college sports cashing in.

The latest: NFL owners did make headway during their two-day annual meeting, working toward an NBA-type structure whereby a handful of private equity firms would have pre-approval to buy minority stakes.

Expect a lot of the same names that already have been active in the NBA and English Premier League, but that sovereign wealth funds wouldn't be part of an initial cohort.
NFL commissioner Roger Goodell said he would "expect there to be something by the end of the year."
Owners did agree to increase the amount of debt that can be used to finance a team acquisition to $1.4 billion from $1.2 billion.

The bottom line: Private equity will come to the NFL, but with a delayed kickoff.

Add Axios on Google

NFL owners punt on private equity ownership vote

What to read next