Key Takeaways
- • Blackstone Inc. and a unit of Apollo Global Management Inc. are in preliminary talks with the NFL to be added to the league's list of approved private equity firms eligible to take minority stakes in teams, according to people familiar with the matter.
- • Neither firm has yet secured approval, and both would likely need to reach a deal with a specific team before completing the approval process.
- • Completion of the approval process would likely come next year, according to one of the people, and approval is not imminent.
- • The move signals growing private equity interest in sports franchises as an alternative asset class.
Summary
Blackstone Inc. and a unit of Apollo Global Management Inc. are in talks with the National Football League to join the league's roster of approved private equity firms that may acquire minority stakes in its teams, according to people familiar with the matter, as reported by Bloomberg.
The discussions are preliminary. The people, who were not authorized to speak publicly about the talks, said both firms would likely need to identify a deal with an individual team before completing the league's approval process. Approval is not imminent, and completion of the process would likely come next year, according to one of the people.
The reported talks underscore the continued expansion of private capital into professional sports ownership. Access to NFL team equity through approved investment vehicles has historically been restricted, so inclusion on the approved list would give Blackstone and Apollo a formal pathway to pursue minority positions in franchises. Because the discussions remain at an early stage, the terms, timing, and eventual outcome remain uncertain.
The discussions are preliminary. The people, who were not authorized to speak publicly about the talks, said both firms would likely need to identify a deal with an individual team before completing the league's approval process. Approval is not imminent, and completion of the process would likely come next year, according to one of the people.
The reported talks underscore the continued expansion of private capital into professional sports ownership. Access to NFL team equity through approved investment vehicles has historically been restricted, so inclusion on the approved list would give Blackstone and Apollo a formal pathway to pursue minority positions in franchises. Because the discussions remain at an early stage, the terms, timing, and eventual outcome remain uncertain.
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