Philadelphia Eagles quarterback Jalen Hurts (1) watches the second half of a game between the Carolina Panthers and Philadelphia Eagles at Lincoln Financial Field on December 8, 2024 in Philadelphia, Pennsylvania.
Graphic Sports Line | Graphic Sports Line | Getty Images
The National Football League has approved the sale of a minority stake in the Philadelphia Eagles to two family investment groups.
The deal involves an 8% stake in the team and values the Hawks at $8.3 billion, league sources said.
The sale was approved Wednesday at an NFL owners meeting in Dallas. It only includes sports teams, not stadiums or any other assets.
The source, who spoke on condition of anonymity to discuss internal operations, said longtime owner Jeffrey Lurie will retain majority control of the team.
According to CNBC’s September official valuation of NFL teams, the Philadelphia Eagles ranked ninth with a value of $7 billion. CNBC’s valuation is based on a controlling stake.
The Hawks ranked ninth in the league in revenue last year and will have $669 million in 2023 revenue.
The latest sales illustrate the rapid rise in values among sports teams, which is particularly strong for the NFL. Sources revealed that there has been strong interest in the sale of the Eagles from families, individuals and private equity firms.
The Eagles’ newest minority shareholders include Susan Kim, chairwoman of the board of directors of product packaging company Amkor Technology. Zack Peskowitz and Olivia Peskowitz Suter will also join the investor team. They are the children of Ed Peskowitz, founder of United Communications Group and former co-owner of the Atlanta Hawks.
Lurie has owned the Hawks since 1994, when he took out a loan to buy the team for $185 million.
Under Lurie, the Eagles won their first Super Bowl title in 2018, in addition to multiple league championships during his tenure. The Jays currently rank first in the NFC East with an 11-2 record.
Lurie first announced the potential sale of a minority stake in the team in June after the league voted to approve private equity investment.
—CNBC’s Michael Ozanian contributed to this report.
Correction: The deal was for an 8% stake in the team. An earlier version incorrectly stated the percentage.
About The Author
