NFL’s 49ers to Promote Stakes at File $8.5 Billion Valuation

[ad_1] (Bloomberg) -- The San Francisco 49ers reached a deal to promote stakes within the NFL crew at a valuation of about $8.5 billion, breaking the document for a sports activities franchise set in December.

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The membership is offloading fairness totaling about 6% to a few personal buyers, based on two individuals acquainted with the transaction — every of them are main figures on this planet of Silicon Valley enterprise capital. Billionaire Vinod Khosla is shopping for the most important stake with the households of Byron Deeter, a companion at Bessemer Enterprise Companions, and Will Griffith, founding companion at Iconiq Progress, additionally buying items.

The deal would require approval at one of many NFL’s house owners conferences. Bloomberg reported in March that the 49ers have been seeking to promote a stake.

The 49ers and a spokesperson for Khosla declined to remark.

The three buyers shopping for stakes all high-profile VC names. Khosla, the founding father of Khosla Ventures, co-founded Solar Microsystems earlier than launching his investing profession, and extra lately, turned one of many first and largest backers of OpenAI.

Deeter, a 20-year veteran of Bessemer, is a number one investor in cloud expertise corporations and has served on the board of corporations reminiscent of Twilio Inc. and ServiceTitan Inc., which lately went public.

Griffith is a pacesetter at Iconiq Progress, Iconiq’s enterprise and development investing platform, which final 12 months mentioned it had raised $5.75 billion for its newest fund.

Skilled sports activities crew valuations have boomed lately as a result of professional golf equipment have maintained tv rankings higher than different leisure, which has boosted income from media rights.

The NFL’s Philadelphia Eagles had the earlier excessive, reaching $8.3 billion final 12 months.

Leagues have broadened the pool of potential buyers by permitting institutional funds to make investments. In 2024, the NFL turned the newest professional league to permit them to purchase stakes in groups. That’s drawing more cash, together with funds began to put money into professional golf equipment.

Sportico reported the information earlier.

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