When NFL owners voted in August to allow private equity funds to partially own teams, it was never going to be long before investment firms joined the scrimmage.
And it seems that two iconic teams are in talks with potential investors, according to reports from Bloomberg which cite people familiar with the matters. The old rivalry between the two teams now extends to which – if either – will become the first to make history with the first PE minority investor.
A deal appears to be close to the final whistle involving Miami Dolphins owner Stephen Ross and private equity firm Ares Management and billionaire Joe Tsai’s family office Blue Pool Capital. Tsai is chairman and co-founder of the Alibaba Group and owner of the NBA’s Brooklyn Nets and WNBA’s New York Liberty.
The report says that the new investors would acquire 10% and 3% stakes in the NFL team and other assets with a total valuation of $8.1 billion including the Dolphins’ Hard Rock Stadium and the F1 Miami Grand Prix. None of the parties involved has commented.
Under the rules agreed by NFL owners, private equity investors can acquire a maximum 10% stake and can invest in a maximum six teams. The percentage ownership is well below the 30% allowed by the NBA, MLB and NHL.
The other talks being reported by Bloomberg are between representatives of the Buffalo Bills and investment firm Arctos Partners. The team is owned by billionaire Terry Pegula who also owns NHL team Buffalo Sabres.
A spokesperson for the Buffalo Bills commented only that “any potential investor cannot be confirmed or finalized until it is approved by the NFL.” Arctos Partners has not commented.
The giant alt investments platform's latest financing led by T. Rowe Price and SurgoCap Partners, along with State Street, UBS, and BNY, will fuel additional growth on multiple fronts.
Some investors recently have seen million dollar plus decisions by FINRA arbitration panels involving complex products decisions go their way.
New report shines a light on how Americans view wealth today.
Concerns about outliving savings and healthcare costs are reshaping how "Peak 65" Americans and advisors approach income planning.
Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
