The San Francisco 49ers are reportedly considering selling up to a 10% stake in the franchise, with private equity firms expected to be among the parties interested in a deal that could value the business in excess of $9bn, according to multiple media reports.
The potential sale comes after the NFL approved a landmark policy in August 2023, allowing private equity firms to acquire up to 10% of teams. The policy shift has fuelled rising franchise valuations as ownership groups explore new limited partnerships.
Since the NFL’s rule change, several high-profile transactions have taken place. In December, three private equity firms received league approval to invest in franchises, leading to Arctos Partners acquiring a 10% stake in the Buffalo Bills and Ares Management purchasing a similar share in the Miami Dolphins. The Bills were valued at $5.35bn before the deal, while the Dolphins commanded an $8.1 bn.
The 49ers’ potential sale follows a similar move by the New York Giants, who recently announced they are exploring offers for a “minority, non-controlling stake” and have enlisted Moelis & Co as their banker. The Giants’ valuation sits between $7.3bn (Forbes) and $7.85bn (CNBC).
Meanwhile, the Super Bowl champion Philadelphia Eagles completed minority stake sales in December, offloading a combined 8% to two separate investors at valuations ranging from $8.1bn to $8.3bn. Despite these deals, majority owner Jeffrey Lurie maintains an 85% stake in the franchise.
