Business of Sports
NFL Owners Push Off Vote on Allowing Private Equity Ownership
- Vote expected later this year, according to Kansas City’s Hunt
- Approval likely to ignite sales of minority stakes in teams
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NFL owners delayed a vote on allowing private equity firms to acquire stakes in teams, thus delaying a potential influx of bidders and sources of capital for franchises.
A committee made of five owners hasn’t finalized a model for bringing private equity into the fold, but a vote is expected to come later this year, according to Kansas City Chiefs owner Clark Hunt, a member of the group. The league will likely vet and approve a selection of private equity firms to be potential buyers of stakes in teams, he said.