Robert Kraft, who paid $172 million for the New England Patriots in 1994, has agreed to sell 8% of the NFL team to two groups in a deal that values the franchise at $9 billion, according to two sources.

Foxborough

The Kraft family has reached an agreement to sell an 8% minority stake in the New England Patriots to two buyers, placing the team's valuation at $9 billion. This transaction is pending approval from the NFL's finance committee, alongside similar minority stake deals involving the New York Giants and San Francisco 49ers.

The proceeds from the Patriots' stake sale will be added to the team's balance sheet, potentially increasing its post-money valuation above $9 billion. The Patriots, purchased by the Kraft family for $172 million in the 1990s, remain one of the NFL's most valuable and iconic franchises, with recent investments in stadium renovations further enhancing their position.

Kraft family agrees to sell 8% stake in Patriots to two buyers

Getting some breaking news out of the NFL, CNBC senior sports reporter Michael Ozanian has a story. Morning, Mike. Hey, good morning. Yeah, I got some big news. The Kraft family has agreed to sell an 8% stake in the team to two buyers that values the team at $9 billion. This deal has to be approved by the NFL's finance committee next month. There are two other deals that need to be approved at that time. One is the $10.3 billion minority stake sale for the New York Giants, and the other is an $8.6 billion minority stake valuation for the 49ers. Those two deals have been out in the news. The deal on the Patriots is a big scoop because there was nothing out there about this team looking to sell a minority stake. Yeah, Mike, so that's the Kraft family, I guess, getting a bit of monetization here for whatever reason, correct? Yeah. Hey, listen, two things with that. They paid $172 million for the team in the 90s, so there's great appreciation. But to your point, it's important to note that they're taking the money, the proceeds from the sale, and they're putting it on the team's balance sheet. So the post-money valuation is going to be even higher than $9 billion. We valued the team earlier this month when we did our NFL valuations at $9.25 billion. So I think we were right on target with our valuation because that's where I think the post-money valuation is headed on this deal. Wow, yeah, the numbers just keep going up. Dallas Cowboys still number one, is that right? Yeah, the Dallas Cowboys, because of the enormous amount of revenue, particularly from sponsorships they get at AT&T Stadium, no one approaches them in revenue. The Cowboys, I think, were third in ticket sales during the 2024 season. The Patriots were 11th. But the Patriots, they're tied with the Steelers, six Super Bowls, most all time. So it's still an iconic brand. And one of the advantages they have up there is they're the only NFL team in that market, unlike, say, New York or LA. Plus, they've spent a ton of money on renovating Gillette Stadium, which they also own. That renovation was completed in 2023. So it's a really good stadium, and they do very well there.

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Breakdown