NFL Enters Private Equity Era With Bills, Dolphins Stakes (2)

The NFL joined the NBA and other major professional sports leagues by allowing private equity to buy small stakes in teams for the first time.

League owners voted to approve the sale of two 10% stakes, the maximum allowed to be acquired by institutional investors under new ownership rules set earlier this year. The Miami Dolphins are selling to Ares Management, while Arctos Partners is acquiring a piece of the Buffalo Bills, according to the teams. Bloomberg previously reported both deals were in the works.

The move has the potential to boost franchise valuations that had already been ...