NFL owners are expected to vote on a change in the league’s ownership structure on Tuesday, August 27. This will allow private equity firms to purchase limited stakes, up to 10% in NFL teams.
The owners flew to Minnesota for a special meeting, called by NFL commissioner Roger Goodell.
According to ESPN, “A move to allow private equity firms to invest as limited partners could free up cash for owners to pursue projects such as stadium renovations and would represent a large shift in how the league has historically operated,”
If the vote goes as expected, NFL teams would have no requirements to take on private equity investments. The choice would be left up to the clubs to decide if they want to take on private equity investments, but all decisions would have to be approved by the league’s owners.
Clark Hunt, one of many owners on board with this idea, said in May, “everybody in the room is on board with the conversations proceeding. Obviously, the litmus test will be when we et to voting on it,”
That historic day would come on Tuesday, where originally teams were owned by a single person or family, could now be co-owned by another organization.
The NFL would be the last major professional sports league to join in allowing some level of private equity ownership.
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