Philadelphia Eagles quarterback Jalen Hurts (1) looks on in the second half during the game between the Carolina Panthers and Philadelphia Eagles on December 08, 2024 at Lincoln Financial Field in Philadelphia, PA.
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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% stake in the team and values the Eagles at $8.3 billion, according to a league source.
The sale was approved Wednesday at an NFL owners’ meeting in Dallas. It includes the sports team alone and does not include the stadium or any other assets.
Longtime owner Jeffrey Lurie will maintain majority control of the team, the source said.
According to CNBC’s Official NFL Team Valuations in September, the Philadelphia Eagles were the ninth most valuable team at $7 billion. CNBC valuations are based on control stakes.
The Eagles were No. 9 in the league by revenue last year, bringing in $669 million in 2023.
The latest sale illustrates the meteoric rise of sports team values, which have been exceptionally strong for the NFL. The Eagles received robust interest in the sale from families, individuals and private equity firms, according to a league source.
The Eagles newest minority owners include Susan Kim, chairman of the board of Amkor Technology, a product packaging company. 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 a former co-owner of the Atlanta Hawks.
Lurie has owned the Eagles since 1994, when he took out a loan to buy the team for $185 million.
Under Lurie’s ownership, the Eagles won their first-ever Super Bowl title in 2018, in addition to several conference championships throughout his tenure. The Birds are currently ranked first in the NFC East with a record of 11-2.
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.
