The National Football League (NFL) has announced the owners of the its 32 professional football teams have passed an initial vote allowing institutional investment firms to make minority equity investments in NFL franchises.
The vote has provisionally approved a select group of potential buyers, among which Ares Management, Arctos Partners, Sixth Street and a consortium that includes Blackstone, Carlyle, CVC and Dynasty Equity.
With the vote, it will be easier for teams to raise capital and for existing owners to sell down their stakes or exit, reported Financial Times. Other sports associations that do something similar include Major League Baseball (MLB), Major League Soccer (MLS), the National Basketball Association (NBA) and the National Hockey League (NHL).
The policy establishes that each fund can invest in up to six franchises, with the minimum investment set at 3 perce