Private equity firm Arctos is adding a fourth NFL team to its portfolio through the reported purchase of a 10% stake in the Falcons. The deal values the franchise at $10.6 billion.
The agreement, first reported by CNBC, adds the Falcons to an Arctos portfolio that already includes the Chargers, Bills, and Browns.
Arctos, which is owned by KKR, will acquire the 10% stake in two stages, starting with a 7.5% stake, according to Sportico. A vote on the transaction is expected in October.
The deal means Arctos can buy stakes in only two more NFL teams, as the league caps the number of franchises a PE firm can invest in at six. The maximum-size stake a PE firm can buy in an individual team is 10%.
Falcons owner Arthur Blank owns a little under 73% of the Falcons, and it’s unclear whether he is selling any of his stake in the deal with Arctos.
