Despite a 1-2 start to the season, the New England Patriots remain one of the most valuable franchises there are.
Patriots’ owner Robert Kraft first purchased the Patriots in 1994, and has been the sole owner of the franchise since. In that time, New England created a dynasty with Tom Brady and Bill Belichick, winning six Super Bowls.
In a shocking move, Kraft reportedly sold 8% minority stake in the Patriots this week, with the franchise’s valuation reaching $9B, according to Sports Business Journal’s Ben Fischer.
“In its first investment under the 2024 NFL private equity policy, Sixth Street has a deal in place to acquire 3% of the Patriots at a valuation of a little over $9B, sources said,” Fischer wrote Thursday. “It’s part of a larger plan to divest 8% of the franchise by owner Robert Kraft, who along with his family has held 100% of the team since he bought it for $172M in January 1994. The buyer of the other 5% is Dean Metropoulos, principal of the Metropoulus & Co. investment firm, sources said.
“If the deal closes, it would be the second highest valuation for an NFL team behind the New York Giants, which will also seek final approval for a deal to sell 10% to Julia Koch at a valuation over $10B. Sources said the Krafts are not taking money off the table, and will hold the proceeds on the balance sheet for future opportunities. Kraft has no intention of relinquishing control of the team.”
Despite the past few seasons, New England has become one of the best franchises in the league under the Kraft family. The Patriots have a bright future with pieces like Drake Maye, and it’s promising to have ownership be fully committed to the future of the organization.