Key Takeaways
- • Blackstone (BX) and a unit of Apollo Global Management (APO) are in talks to join the NFL's list of approved private equity firms eligible to take minority stakes in league teams, according to people familiar with the matter cited by Bloomberg News.
- • The approval process is likely to be completed next year, per one of the sources, who were not authorized to speak publicly.
- • The NFL has been in communication with several private equity firms, and its owners are reportedly satisfied with existing private equity partners, according to a source familiar with the talks.
Summary
Blackstone and an Apollo Global Management unit are in discussions to be added to the National Football League's roster of approved private equity firms that may acquire minority stakes in NFL teams, according to people familiar with the matter who spoke to Bloomberg News. The sources were not authorized to speak publicly about the talks.
The approval process is expected to conclude next year, according to one of the people briefed on the discussions. The report does not specify the size of potential stakes or valuation terms.
The league has been engaging with several private equity firms as it considers expanding its investor base, and NFL owners are pleased with their existing private equity partners so far, a source familiar with the talks said. The development signals continued institutional interest in sports franchises as an alternative asset class, with private equity capital increasingly sought by professional sports leagues.
The information is based on anonymous sources and has not been confirmed by the NFL, Blackstone, or Apollo.
The approval process is expected to conclude next year, according to one of the people briefed on the discussions. The report does not specify the size of potential stakes or valuation terms.
The league has been engaging with several private equity firms as it considers expanding its investor base, and NFL owners are pleased with their existing private equity partners so far, a source familiar with the talks said. The development signals continued institutional interest in sports franchises as an alternative asset class, with private equity capital increasingly sought by professional sports leagues.
The information is based on anonymous sources and has not been confirmed by the NFL, Blackstone, or Apollo.
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