Private Equity Finally Can Get a Piece of the NFL

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The Wall Street Journal

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🗓️ 29 August 2024

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

The world’s most lucrative sports league is allowing private equity to buy into teams. WSJ’s Andrew Beaton and Miriam Gottfried unpack why the NFL is opening up, and what it could mean for owners and fans. Further Reading: -Private Equity Ownership Is Coming to the NFL -College Sports Is About to Turn Pro. Private Equity Wants In. Further Listening: -Why Three Media Giants Are Betting on Sports Streaming -ESPN’s Big Bet on an F-Bomb-Throwing YouTube Star Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Football is back. Next Thursday, the season kicks off with defending Super Bowl champs, the Kansas City Chiefs,
0:16.0	playing the Baltimore Ravens.
0:18.0	And there are some big changes coming to the NFL this season,
0:22.0	but not on the field.
0:24.6	We have breaking news on the NFL.
0:26.6	Owners have just voted to approve a rule allowing a portion of NFL franchises to be
0:30.7	sold to private equity firms.
0:32.6	This new rule allows owners to sell up a 10% stake
0:35.8	in a team to private equity firms.
0:37.7	The NFL is the last major sports league in the US
0:40.8	to allow private firms to make investments like this.
0:44.0	Allowing private firms to make investments like this. Allowing private equity firms to invest in NFL teams
0:48.8	is a big change.
0:50.8	The NFL is the biggest Sports League in the world with close to 20 billion dollars in
0:57.2	annual revenue. So we called up two reporters, our football reporter, Andrew Beaton, and our private equity reporter,
1:06.0	Miriam Godfrey. We're talking about the holy grail of sports for these investors.
1:11.9	This is the most lucrative league in sports and it
1:15.2	could just be the stepping stone to even more increased and aggressive welcoming of this
1:21.6	world that the NFL had long said no to.
1:25.0	What are the risks to the NFL?
1:30.0	I mean, I think any time you go from not allowing private equity to allowing it, you
1:37.4	risk this slippery slope of owners getting too used to this free-flowing private equity money and wanting more and
	...

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