Patriots owner Kraft to sell 8% stake to Metropoulos, Sixth Street

New England Patriots owner Robert Kraft has agreed to sell an eight percent minority stake in the franchise in a two-part transaction that values the team at just over 9 billion, according to multiple reports. Under the arrangement, billionaire investor Dean Metropoulos would acquire a five percent stake and private equity firm Sixth Street would purchase three percent. The deals are subject to approval by NFL owners at their league meeting on October 21 and 22.

Taken together, the minority sale would be worth roughly 720 million on a 9 billion valuation, and would leave the Kraft family with approximately 90 percent ownership and control of the franchise. Reports say the Krafts plan to hold the proceeds on the balance sheet for future opportunities and do not intend to cede operational control. A team spokesman declined to comment when asked about the reported transactions.

The proposed sales come after the NFL in recent months opened the door to private equity investments in clubs, a policy change that has already produced similar minority deals. Other franchises have reached terms on outside investments this year, including a high-profile agreement that set another team s...