Brand Velocity Group, where Eli Manning is a partner, is looking to purchase a minority stake of an NFL franchise, if potential changes to NFL rules that would allow private equity firms to do so are enacted, reported Anna J. Kaiser for Bloomberg.
The Washington Commanders sold for $6 billion last year to a group led by Josh Harris, the co-founder of Apollo Global Management.
Manning is already a minority owner of a sports franchise: Gotham FC, a National Women’s Soccer League team.
The NFL has been resistant to allowing private equity ownership, whereas about two-thirds of NBA teams are backed by either private equity firms or individual investors from that segment, Kaiser said, citing data from Pitchbook.
Bloomberg