The NFL approved Arctos Partners’ latest team investment, marking Arctos’ third football club. Sportico identified 32 teams now in its portfolio—the deepest roster of investments in pro sports.
The deal is for about 3% of the Cleveland Browns at a $9 billion valuation, according to someone familiar with the details. It is the first tranche, with Arctos ultimately expected to buy 10% of the club. The funds will be used for the Browns’ new stadium. Browns owners Jimmy and Dee Haslam have pledged to pay $1.76 billion of the $2.6 billion project.
The Haslams cited Arctos’ “deep and respected expertise” in sports and a shared “long-term vision for investing in both the franchise and Northeast Ohio” in a statement announcing the transaction.
This is the first team investment for Arctos since KRR closed its $1.4 billion acquisition of the firm two weeks ago. The full Arctos operations and team, led by managing partners Ian Charles and Doc O’Connor, joined KKR, anchoring a new unit called KKR Solutions.
Charles and O’Connor launched Arctos in 2019, and the firm was on the forefront of private equity’s recent push into the major U.S. sports leagues. Its early investments included minority stakes in the Golden State Warriors, Sacramento Kings, Tampa Bay Lightning, Minnesota Wild and Real Salt Lake. It also bought a piece of Fenway Sports Group, whose assets include the Boston Red Sox, Liverpool FC, Pittsburgh Penguins and RFK Racing.
