New England Patriots owner Robert Kraft has reached an agreement to sell a small stake of the team, according to reports.
According to the Sport Business Journal, Kraft will sell an 8% stake of the franchise to private equity firm Sixth Street and billionaire Dean Metropoulus.
Sixth Street will acquire 3% of the Patriots while Metropoulos, principal of the Metropoulus & Co. investment firm, will purchase 5%.
Sixth Street’s investment in the Patriots is the firm’s first since the NFL instituted a policy in 2024 that opened the door to private equity firms taking non-voting, minority stakes in teams.
Sixth Street also invested in the Boston Celtics as part of the new ownership group rallied under private equity mogul Bill Chisholm. Sixth Street reportedly holds an approximate 10% stake in the Celtics.
The new deals bring the Patriots’ valuation to an estimated over $9 billion. If the deal closes, it would be the second-highest valuation of a team behind the New York Giants’ over $10 billion.
Kraft will still own over 90% of the team.
Both deals will need to be approved by NFL owners at their regular meeting at the end of October.
Boston 25 News has reached out to the Patriots for comment.
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