The NFL has approved select private equity firms to buy up to 10% stakes in teams, Denver Broncos owner Greg Penner confirmed Tuesday.
A collection of at least seven firms plans to invest $12 billion in NFL teams. All but one NFL ownership group — the Cincinnati Bengals — voted in favor of allowing private equity firms to buy into teams.
“The support today in the room was very strong for this decision,” Penner said. “One thing that was really important was … giving owners a different option for capital sources but at the same time maintaining how we operate.”
Penner was part of a five-owner committee that spearheaded the approval, joining Clark Hunt, Robert Kraft, Jimmy Haslam and Arthur Blank.
Comments from Denver Broncos Owner & CEO Greg Penner regarding today’s NFL ownership vote: pic.twitter.com/HndI0lLZK5
— Dawn Mitchell (@DawnAtFOX9) August 27, 2024
The Broncos, of course, won’t be taking advantage of the new policy allowing private equity stakes. The Walton-Penner family purchased Denver’s NFL franchise for $4.65 billion in 2022 and they are the richest ownership group in the league. No private equity needed for the Broncos.
