Morning! This is Luisa Beltran, finance reporter, subbing for Allie.
We’ve had some time to digest the NFL’s groundbreaking policy change that will allow private equity to invest in teams. The changes, announced late Tuesday after an owner vote, spell out that private equity funds can own up to 10% of a franchise, and investors must hold their position for at least six years. The NFL provisionally preapproved several PE firms to invest in NFL teams, including Arctos Partners, Ares Management, Sixth Street, and a consortium that includes Blackstone, Carlyle, CVC Capital Partners, Dynasty Equity, and Ludis, an investment company run by former NFL player Curtis Martin.
