Jeffrey Lurie turned a $185 million loan from his parent into an NFL franchise now worth $5 billion and counting, and the Eagles owner could be looking for partners.
Bloomberg reports that Philadelphia’s ownership group has been exploring a potential sale of a minority stake in the franchise.
Jeff Lurie is exploring a sale of a minority stake in the National Football League’s Philadelphia Eagles, according to a person with knowledge of the matter.
Lurie is working with BDT & MSD Partners to solicit interest from potential suitors for a stake in the team, which may be valued at more than $7.5 billion in any transaction, said the person, who asked not to be identified discussing confidential information. The $7.5 billion figure represents a multiple of roughly 11 times revenue, and would represent a record price tag for an NFL team.
According to the report, the size of the minority stake hasn’t been disclosed, but it won’t be enough for a potential partner to attain any majority control of the franchise.
Laurie has controlled the franchise since May 1994, when he acquired the Eagles from the infamous Norman Braman for a reported $185 million, a record for a sports team at the time.