A piece of the Eagles appears to be for sale.
According to Bloomberg, team owner Jeffrey Lurie is interested in selling a minority stake in the franchise.
Lurie bought the Eagles in 1994 for $185 million, then a record, and is using BDT & MSD Partners to solicit potential investors. A sale would be based on a $7.5 billion valuation, according to Bloomberg, which comes from a multiple of 11 times the annual revenue. (The Cowboys, at $9 billion according to Forbes, hold the top spot for NFL team valuation, and the world record for a team sale was Josh Harris’s December purchase of the Commanders for $6.1 billion.)
No controlling stake in the team is available, and there is a chance a deal doesn’t get made. After falling to the Chiefs in the Super Bowl a year ago, the Eagles were knocked out in the first round of the playoffs this past season and are expected to enter the 2024 season as a title contender. The team beat the Patriots in ’18 for its first Super Bowl title.
Lurie is worth roughly $5.4 billion, and his interest in selling a minority stake comes at a time when both the Dolphins and Bills are looking into similar investments while team valuations climb.
For more on how sports impacts business and culture, subscribe to the Front Office Sports Today podcast.
The post Report: Jeffrey Lurie Exploring Sale of Eagles Minority Stake appeared first on Front Office Sports.
