Patriots reportedly selling 8 percent stake in team at a $9 billion valuation

The New England Patriots are reportedly selling an eight-percent stake in the team to Sixth Street, a global investment firm, and billionaire Dean Metropoulos, according to Sportico. The stake is reportedly at a $9 billion valuation.

Sixth Street is expected to buy three percent of the team, with Metropoulos funding five percent, per Sportico. The Kraft family will still own 90 percent of the team.

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Minority ownership deals have become more common place in the NFL in recent months. In early September, the New York Giants told a 10 percent minority share of the franchise to the Koch family at a reported $10 billion valuation.

In May, the San Francisco 49ers reportedly sold small minority shares to three different Bay Area families. Those shares were at an $8.5 billion valuation.

The Patriots are expected to reinvest that money into the franchise, per Sportico. The reported deal does not involve the New England Revolution, an MLB team owned by the Kraft family.

NFL team values have skyrocketed in recent years. In August, the Dallas Cowboys ranked as the most-valuable franchise in the sport, coming in with a $13 billion valuation on Forbes’ annual list. The Patriots ranked fourth on that list, and were valued at $9 billion.

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That $9 billion valuation by Forbes is quite the uptick for the Kraft family, which purchased the Patriots for $172 million in 1994. The Patriots made the playoffs in four of the first five seasons after Robert Kraft bought the team. After a two-year playoff drought, the Patriots won the first of their six championships in 2001.

Following the departure of Tom Brady, the Patriots find themselves in a bit of a playoff rut. The team hasn’t reached the postseason the past three years. Those on-field struggles haven’t impacted how much people are willing to pay for a small portion of the franchise.