The New England Patriots have agreed to sell an 8% minority stake in the franchise at a valuation exceeding $9 billion, according to Sports Business Journal. Under the terms of the deal, Sixth Street, a global private equity firm, will acquire 3%, while billionaire investor Dean Metropoulos will purchase 5%. The Kraft family will continue to own more than 90% of the team, with proceeds from the sale earmarked for reinvestment into operations and facilities. 

The transaction, which excludes the Kraft-owned New England Revolution of Major League Soccer, is pending NFL approval and is expected to close in October. If finalized, the Patriots’ valuation would be the second highest in NFL history, trailing only the Koch family’s pending 10% stake purchase in the New York Giants, which values that franchise above $10 billion. 

The Patriots’ deal also underscores a growing trend of minority stake sales across the league. Earlier this week, the Chicago Bears sold a 2% stake at an $8.8 billion valuation, though that deal did not require a full-owner vote since the buyers were existing stakeholders. For Sixth Street, the investment represents its first NFL deal, following the league’s 2024 decision to allow private equity ownership under defined rules.