Private equity stakes in NFL teams could increase above 10 per cent
NFL commissioner Roger Goodell failed to rule out allowing private equity giants to buy more than the current 10 per cent limit in franchises ahead of a trio of games in London.
In January the Buffalo Bills (Arctos Partners) and Miami Dolphins (Ares Management) became the first NFL franchises to sell stakes to private equity after the league relaxed its rules in 2024. Arctos has since been given the green light to invest in the Los Angeles Chargers too.
Franchises can sell up to 10 per cent of their team to one of an approved list of private equity operators, on the basis the investments would be passive and without voting rights.
And Goodell, while insisting it won’t happen tomorrow, did not shut out the possibility of allowing NFL franchises to sell higher stakes to private equity.
“We were the last of the leagues that brought private equity into our ownership policies,” he told Leaders Week at Allianz Stadium on Thursday.
“We’re just a little bit more than a year [in] now, and I think it’s been incredibly successful for us.
“It’s there to try to give our teams an opportunity for liquidity, but it’s brought a different perspective to the business.
“Will there be discussions about going above 10 per cent? Maybe someday, but I think for right now, it’s working quite well.”
NFL in UK
The commissioner reiterated the league’s ambition to host 16 regular season games outside of the US, with Rio de Janeiro and Melbourne joining the roster next season.
The first of three London matches gets underway on Sunday at Tottenham Hotspur Stadium having ventured to Dublin for the first time last weekend.
Goodell said London remains a key market for the NFL, but stated that other UK cities would not be off the table should they bid to host matches in the future.