Patriots to sell 8% of the franchise, including 3% at Sixth Street, more than $ 9 billion in evaluation
In its first investment under the NFL 2024 investment policy, the sixth street has an agreement in place to acquire 3% of patriots to an assessment of just over $ 9 billion, sources said.
This is part of a larger plan to disintegrate 8% of the owner of the owner Robert Kraft, who, with his family, has held 100% of the team since he bought it for $ 172 million in January 1994. The 5% other buyer is Dean Metropoulos, director of the Metropoulus & Co. investment company, announced sources.
The twin transactions are subject to the approval of the owners of the NFL at their regular meeting from October 21 to 22, but it would be very unlikely that the owners reject an agreement which was rendered so far in the verification of the league. If the agreement ends, it would be the second highest evaluation for an NFL team behind the New York Giants, which will also ask for the final approval for an agreement to sell 10% in Julia Koch to an evaluation of more than $ 10 billion.
When the NFL has approved the investment capital policy, Kraft prefigured today. “We have developed a program that satisfies both the needs of investment capital companies, but also supports the culture we want to continue,” Kraft told Forbes. “A winner-win whole. I never thought I would sell anything, but I consider it.”
Sources have said that krafts do not withdraw money from the table and will hold the product of the balance sheet for future opportunities. Kraft does not intend to give up control of the team.
Sixth Street was among the first three funds to be authorized by the NFL to invest, alongside Arctos Partners and Ares Management Corp. However, so far, the sixth street had kept its dry powder while Arctos invests in the Bills and Chargers, and Ares has acquired a participation in the Dolphins.
Sixth Street entered sport in 2021 when she acquired 51% of legends, the hotel and co -owner advice agency by Dallas Cowboys and New York Yankees. He is also invested in the Boston Celtics, the Giants of San Francisco, the Bay FC and other clubs.
CNBC recently estimated that the Super Bowl Patriots champion of $ 9.25 billion, the fifth most precious franchise in the NFL. The Patriots refused to comment. Sixth Street did not immediately send a message asking for comments. Sporto first pointed out the identity of Metropoulus, the individual buyer.
