$6.4bn NFL franchise selling off part of team to investor that already holds stake in two rivals

NFL owners are set to vote Tuesday on the sale of a three percent stake of the Cleveland Browns to private equity firm Arctos.

In recent years, the league has opened the floodgates for firms to acquire minority interests in its franchises, and approved deals for the New York Giants, San Francisco 49ers and New England Patriots in 2025.

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At owners meetings in Orlando this week, it will be the Browns will be on the agenda.

NFL set to approve 3% sale of team to private-equity fund

Cleveland’s franchise, owned by Jimmy Haslam and wife Dee, is valued at $6.4 billion.

A proposed sale of three percent of the team, to Arctos, will likely not face any resistance from owners.

That means the private equity firm will soon have a piece of three NFL teams.

Arctos already holds a eight percent of the Los Angeles Chargers, and 10 percent of the Buffalo Bills.

It’s unclear exactly how much the firm will pay for a small chunk of the Browns, but based on estimations, the Haslams would net around $192 million for three percent of the $6.4bn team.

Any sale will provide the ownership with a nice cash injection at a time when they’re planning to build a new stadium, with costs going up.

In recent years, Arctos has acquired a stake in many teams beyond the NFL.

They have a 13 percent investment in the NBA‘s Golden State Warriors, and through investment in Fenway Sports Group, also have a stake in Major League Baseball team the Boston Red Sox, and Premier League soccer club Liverpool.

Stakes in a total of 27 professional teams fall under Arctos and their various investment groups.

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Owners initially voted to approve a measure to allow private equity funds to buy small stakes in franchises back in August 2024.

What has the NFL said about private equity firm investments in the past?

It was stressed at the time that up to a total of 10 percent of a team could be sold off, which in turn gives owners access to hundreds of millions of dollars in cash.

The measure was described as a significant shift in the league’s ownership rules, but has changed very little in the way of how franchises are run. It has also had no noticeable or meaningful impacts on fans.

“This won’t change a thing,” NFL Commissioner Roger Goodell told reporters at the time of the vote.

“This is 10 percent of a team.

“All it is, is a silent position that would allow access to capital for those teams that wish to offer 10 percent of their team.

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“They will not be in any kind of decision-making influence in any way.

“It was very important when we began this that we strengthen the ownership.

“We think the single-owner structure has been very valuable… and this does not impact that at all.”

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