Robert Kraft Selling Minority Shares Of Patriots To Private Equity Firms: Report
Summary
Robert Kraft, owner of the New England Patriots, plans to sell a minority share of the team for the first time in over 30 years. He will sell 8% of the Patriots, with 3% going to Sixth Street and 5% to Dean Metropoulos from Metropoulos & Co. The team is valued at over $9 billion.Key Facts
- Robert Kraft is selling 8% of the Patriots.
- Sixth Street will buy 3% and Dean Metropoulos will buy 5%.
- The Patriots are valued at over $9 billion, second only to the New York Giants.
- Kraft will still retain control of the team.
- The NFL owners will vote on this deal in October.
- This sale is part of a new NFL policy allowing sales to investment groups.
- Kraft previously invested $250 million in Gillette Stadium renovations.
- Sixth Street has invested in other sports organizations, including the Boston Celtics.
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