Private equity firm to buy 10% ownership stake in Falcons
Report: Arthur Blank surrenders 10% ownership in Falcons for $1.6 billion payoff
Private equity firm Arctos has reached an agreement to purchase a 10% stake in the Atlanta Falcons from current owner Arthur Blank, according to reports by CNBC. The deal has been valued at $10.6 billion, which will result in Blank receiving $1.6 billion from the partial sale. Notably, the payments will be made in two separate installments spread over the next 18 months.
Arctos is already the owner of portions of other NFL teams, including the Cleveland Browns, Buffalo Bills, and Los Angeles Chargers. However, the specific details of which portion of Blank's stake is being sold are still unclear. The Atlanta Falcons have seen a significant rise in value, climbing 39% in worth over the past year, and have been ranked among the NFL's top 10 most valuable franchises.
Despite the sudden announcement, neither the Falcons nor Arctos have commented on the matter. The NFL is set to vote on the proposed sale in October.
Written by urgent.news from Yahoo Sports's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
