Arctos Partners is adding a fourth NFL franchise to its portfolio by purchasing a 10% stake in the Atlanta Falcons, Front Office Sports and CNBC reported.
The private equity firm already owns stakes in the Buffalo Bills, Cleveland Browns and Los Angeles Chargers.
The deal with Arctos includes a $10.6 billion valuation for the Falcons. Arctos will acquire the 10% stake in two stages, starting with a 7.5% stake, according to Sportico. A vote on the transaction is planned for October.
According to NFL rules, a private equity firm can invest in no more than six teams and the maximum stake size is 10%.
Falcons owner Arthur Blank owns about 73% of the team but it is unclear whether his shares are involved in the deal with Arctos, according to Front Office Sports.
Arctos, which is owned by the sports management company KKR & Co. Inc., also holds a stake in several franchises in the NBA, NHL and MLB.
