NFL Owners Approve 49ers, Chargers’ Sale of Minority Stakes

NFL owners approved the sale of a 6.2% stake in the San Francisco 49ers to three investor groups at an $8.5 billion valuation, the highest ever for a sports team.

The sale to three local families was one of several limited-partner deals approved Tuesday during the NFL owners’ spring meetings in Minnesota. Billionaire Vinod Khosla is buying the largest stake, joined by the families of Byron Deeter, a partner at Bessemer Venture Partners, and Will Griffith, founding partner at Iconiq Growth.

Blackstone, CVC Split From Group Set to Invest in NFL Teams

Team owners also approved the Los Angeles ...