Browns will sell three percent of team to the Arctos private-equity fund
NBC Sports • • sports
Key Points:
- The NFL is allowing private-equity firms to acquire minority stakes in multiple franchises, with Arctos poised to buy a 3% share of the Cleveland Browns.
- Arctos already owns 8% of the Los Angeles Chargers and 10% of the Buffalo Bills, making it a minority owner in three NFL teams.
- The proposed sale, pending owner approval, would provide the Browns with significant capital as they prepare to build a new stadium, which has private funding exceeding $1.755 billion.
- While owning stakes in multiple teams is unusual, these franchises primarily compete on the field, with shared financial interests off it.
- The valuation of the Browns stake is not disclosed, but a 3% share at a $10 billion team value would be approximately $300 million.