Patriots’ Robert Kraft Selling Small Ownership Stake

Since buying the New England Patriots in 1994, owner Robert Kraft and his family have owned 100% of the team. Now, it's reported that a small stake in the franchise will be sold.

According to Sports Business Journal, the Patriots are selling 8% of the franchise to two parties. Sixth Street has a deal in place to acquire 3% of the team, while Dean Metropoulos, principal of Metropoulus & Co. investment firm, is buying the other 5%. Kraft has no plans of giving up ownership control of the team, SBJ reports.

The price of the stake sold is valued at $9 billion.

This move comes under the 2024 NFL private equity policy, which allows pre-approved private firms to put money into NFL franchises in minority ownership stakes. The maximum allowed for an equity firm is 10%, and this reported move by Sixth Street is the first one by the firm. CNBC recently reported that the Patriots are estimated to be worth $9.25 billion, which is the fifth most across the league.

These two deals are now subject to league approval by the NFL owners. This approval would be voted upon at their regular ownership meeting on October 21 and 22. Should the deal close, it would be the second-largest private equity sale in league history. The New York Giants are also working to get a $10 billion deal approved.

"We've come up with a program that both satisfies the needs of the private equity firms, but also supports the culture that we want to keep going," Kraft told Forbes when the NFL announced the private equity policy. "A win-win all around. I never thought I would sell anything out, but I'm considering it."