The National Football League has approved sweeping changes to its ownership policies that will allow the private equity industry to invest in teams, opening the most lucrative sports league in the US to the buyout industry for the first time.
NFL owners on Tuesday gave the green light to the changes, which would allow team owners to sell minority stakes to private equity firms.
It has named a handful of investment managers including Ares Management, Arctos Partners, Sixth Street and a consortium made up of Blackstone, Carlyle, CVC and Dynasty Equity and Ludis, which was founded and led by retired NFL player Curtis Martin, as preferred buyers for owners looking to sell.
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