FOXBOROUGH, MA – Robert Kraft and his family, the long-time 100% owners of the New England Patriots, have reached an agreement to sell an 8% minority stake in the franchise. The deal, which values the six-time Super Bowl champion organization at more than $9 billion, is split between two separate investors and is subject to approval by NFL owners next month.
The sale marks a significant moment for the Patriots, who have been wholly owned by the Kraft family since Robert Kraft purchased the team for $172 million in 1994. The transaction comes after the NFL adopted a new policy in 2024 allowing private equity firms to acquire minority stakes in its teams.
The 8% stake is being sold to two different entities.
Dean Metropoulos (principal of Metropoulos & Co. investment firm) will acquire a 5% stake. Metropoulos is a Greek-American billionaire investor, notably known for his work in the food and beverage industry, including helping to revive Hostess Brands (the maker of Twinkies).
Sixth Street Partners (a global investment firm) will acquire the remaining 3% stake. Sixth Street is no stranger to Boston sports, as the firm also holds a minority stake in the Boston Celtics.
Based on the reported valuation of over $9 billion, the 8% stake is collectively worth approximately $720 million.
The Kraft family will maintain firm control of the franchise, retaining over 90% ownership. According to reports, the Krafts are not taking money off the table personally. Instead, the proceeds from the sale are expected to be held on the team’s balance sheet for “future opportunities.”
This influx of capital could potentially be used for further investments in the team’s infrastructure, such as improvements to Gillette Stadium or their new state-of-the-art training facility in Foxboro, which is currently under construction.
The Patriots’ decision to sell a minority stake follows a growing trend in the NFL, spurred by the new private equity rules. As franchise valuations have skyrocketed, other teams, including the Buffalo Bills, Los Angeles Chargers, Miami Dolphins, and New York Giants, have also engaged in similar deals to bring in new limited partners and capital. The New York Giants’ recent minority sale set a new record, valuing that team at over $10 billion.
The deal is expected to be finalized pending approval from NFL owners at their upcoming fall meeting in October. For the Kraft family, the sale represents a massive return on their original investment, while allowing them to leverage the league’s booming valuations to generate significant capital without relinquishing control of the team.