The Falcons will be the fourth NFL team in Arctos' portfolio, joining the Bills, Chargers and Browns. Arthur Blank paid $545 million for Atlanta.

Private equity firm Arctos has agreed to buy 10% of the Atlanta Falcons in a deal valued at $10.6 billion, two sources told CNBC.

Arctos reached an agreement Thursday to acquire a 10% interest in the Atlanta Falcons at a reported $10.6 billion enterprise valuation.