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NFL team owners approved a measure<\/a> to allow private equity firms to take an ownership stake<\/a> in franchises.\u00a0<\/p>\n The vote came during an owners meeting in Minneapolis Tuesday, and marks the end of the NFL\u2019s era as the only one of the major four U.S. sports leagues that did not allow institutional investment. The vote comes<\/a> after a special committee of NFL owners put together a proposal of possible changes to the league\u2019s ownership to allow for private equity investments.<\/p>\n Under the new rules, private equity can own up to 10% of a team, and investors must hold their position for at least six years.<\/p>\n The NFL still had some restrictions, only allowing investments from a select group of investors. The pre-approved firms include Arctos Partners, Ares Management<\/a> Corporation, Sixth Street<\/a>, Blackstone<\/a>, Carlyle, CVC Capital Partners, Dynasty Equity, and Ludis, which is an investment company run by former NFL player Curtis Martin.\u00a0<\/p>\n A spokesperson for Ares said the firm was \u201chonored\u201d to have the chance to invest in NFL franchises. \u201cThe NFL has long engendered deeply loyal fanbases, innovative approaches to media and some of the most viewed and highest valued sports franchises in the world,\u201d the spokesperson said. \u201cWe are excited for the opportunity to support the continued growth of NFL teams through Ares\u2019 extensive investment experience and strong relationship networks in the sports, media and entertainment sector.\u201d\u00a0<\/p>\n Arctos, which has several major sports investments including in the NBA\u2019s Golden State Warriors and the MLB\u2019s Houston Astros, expressed a similar sentiment. \u201cPending final approval, Arctos would be the only firm approved to invest in equity across each of the five most popular major North American leagues,\u201d a spokesperson said.<\/p>\n<\/div>\n\nRecommended reading:<\/strong>
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