NFL owners voted their carefully crafted approval on Tuesday to private equity investors in their teams, putting in place a new rule that lets certain league-sanctioned firms buy up a stake of up to 10% in the 32 franchises that are steadily soaring in value.
RELATED STORY | Major change in kickoffs among new rules for the 2024 NFL season
At a special meeting in Minnesota, nine days before the regular-season opener, the owners enacted their first such guideline after previously prohibiting the practice.
The other major American sports leagues allow up to 30% purchases by private equity investors.
The NFL with this vote permitted four different funds, after initiating a study of the concept five years ago.
RELATED STORY | As Netflix takes over NFL Christmas Day games, here’s how much it could cost to watch every game next season
Since then, the Denver Broncos ($4.65 billion) and Washington Commanders ($6.05 billion) have sold, further …