Summary
The New England Patriots, a professional American football team, have increased in value to $9 billion after owner Robert Kraft sold an 8% minority stake in the team. Kraft, who has owned the Patriots since 1994, continues to maintain control over the team. This valuation makes the Patriots the second most valuable NFL team.
Key Facts
- The New England Patriots are now valued at $9 billion.
- Robert Kraft sold an 8% minority stake in the team.
- Kraft became the owner of the Patriots in 1994, purchasing the team for $172 million.
- Sixth Street, a private equity firm, is buying a 3% stake in the Patriots.
- Dean Metropoulos of Metropoulos & Co. is buying the other 5%.
- The Patriots' new valuation makes them the second highest valued NFL team after the New York Giants.
- Kraft intends to keep control of the team and plans to use the proceeds for future opportunities.
