Arctos reached an agreement Thursday to acquire a 10% interest in the Atlanta Falcons at a reported enterprise valuation of $10.6 billion, a transaction that would add to the private equity firm’s growing footprint in NFL franchises.
CNBC reported that the parties are planning the stake transfer in two tranches and said the NFL is expected to take up a vote in October. It is not yet clear whether the shares being sold come solely from owner Arthur Blank’s position or also involve other holders.
Blank, who co-founded Home Depot, bought the Falcons in 2002 for $545 million and now controls just under 73% of the team. The franchise has not won a Super Bowl and missed the postseason again in the 2025-26 campaign, extending a long playoff drought.
If owners sign off, the Falcons would become Arctos’ fourth NFL investment, following positions in the Los Angeles Chargers, Buffalo Bills and Cleveland Browns.
The reported valuation comes as prices for NFL teams continue to climb, with a pending Seattle Seahawks sale pegged at $9.61 billion, which would set a league record. CNBC’s Official NFL Valuations published in September 2025 placed the Falcons at $8 billion, ranking 11th across the league.
Falcons CEO Greg Beadles said in a late-July CNBC appearance that the organization reshaped its football leadership this year. He also said, "Despite average performance on the field the last several years, our business has been really strong," adding, "We had our best business year that we’ve had last year, as a matter of fact."
Private Equity Buys Up Professional Sports
Private equity and venture capital in sports have been an accelerating investment trend, with firms looking to acquire minority or majority stakes in professional teams, leagues, and businesses as company valuations grow. Major leagues such as the NFL, NBA, MLB, and NHL now permit private equity investment into their franchises.
According to a report from Meketa, the global sports market reached $463 billion in revenue in 2024, is expected to reach $600 billion in revenue by 2028, and nearly $863 billion by 2033.
Drivers of this growth include “the rising value of media rights deals, increased fan engagement, the expansion of sponsorship and merchandising opportunities, and growth in sports-adjacent businesses,” the report stated.
Other private equity and venture capital firms have recently purchased sports franchises.
Josh Kushner and Bob Iger recently purchased the Los Angeles Lakers in a deal worth approximately $12.5 billion. Thrive Capital also bought a small stake in the San Francisco Giants through a new holding company called Thrive Eternal, earlier this year.
Apollo Sports Capital is providing $2.6 billion in debt and equity financing to Yankee Global Enterprises, bringing the private-equity firm in as a new strategic backer of the New York Yankees’ holding company.
In March, a consortium comprising Blackstone (NYSE:BX), Bolt Ventures, Aditya Birla Group, and The Times of India Group agreed to acquire the Royal Challengers Bengaluru (RCB) cricket franchise.
Meanwhile, Ares Management Corp., Apollo Global Management (NYSE:APO) and Sixth Street Partners are reportedly having early-stage conversations regarding the National Basketball Association’s (NBA) European expansion.
Earlier this year, KKR & Co. (NYSE:KKR) entered into a definitive agreement to acquire Arctos Partners, an institutional investor in professional sports franchise stakes.
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