EAGAN, Minn. — (AP) — The NFL has finally relaxed a few of its strict rules around team ownership, formally approving the entry of private equity funds into the equation.
Owners voted on Tuesday at a special meeting in Minnesota to allow up to 10% stakes in individual clubs by investment groups, an emerging trend in the financial world that the league was content to let other pro sports take the lead on while it carefully took notes and considered how it might integrate the practice into its booming business for the good of all 32 teams.
While questions remain about how many more potential buyers might be able to get in the game beyond the initial group of approved firms, it’s clear as always that the NFL would not have gone down this road if it didn’t think it could benefit its booming business with the stated goal of generating $25 billion in annual revenue.
What is private …