The National Football League has approved the sale of a minority stake in the Philadelphia Eagles to two family investment groups.
The deal is for an 11 percent stake in the team and values the Eagles at $8.3 billion, according to league sources.
The sale was approved Wednesday at the NFL owners meeting in Dallas. It includes the sports team alone and does not include the stadium or any other assets.
Longtime owner Jeffrey Lowry will retain majority control of the team, sources said.
According to CNBC’s official NFL team quotes. In September, the Philadelphia Eagles were the ninth most valuable team at $7 billion. CNBC prices are based on control stack.
The Eagles were No. 9 in the league. Bringing in last year’s revenue, $669 million In 2023
The latest sales underscore the sharp rise in sports team values, which have been unusually strong for the NFL. According to a league source, the Eagles received strong interest in the sale from families, individuals and private equity firms.
Eagles’ new minority owners include Susan Kim, chairman of the board of Amcor Technology, a product packaging company. Zack Peskowitz and Olivia Peskowitz Suter will also join the investment team. They are the children of United Communications Group founder and former Atlanta Hawks co-owner Ed Piscowitz.
Lowry has owned the Eagles since 1994, when he took out a loan to buy the team for $185 million.
Under Lowry’s ownership, the Eagles won several conference championships throughout his tenure, as well as their first Super Bowl title in 2018. The Birds are currently in first place in the NFC East with an 11-2 record.
Lowry first announced the potential sale of a minority stake in the team in June after the league voted to approve private equity investment.