After previously exploring the sale of a minority stake in the Eagles franchise, two families each agreed to acquire small stakes in Jeffrey Lurie’s franchise in deals that raised the team’s value to just north of $8.3 billion.
The new investors would hold 8% of the club once NFL owners approved the transaction.
The family trust of Ed Peskowitz, founder of United Communications Group and a former co-owner of the NBA’s Hawks, will take a 4.75% stake in a deal led by his children, Zachary Peskowitz and Olivia Suter. Susan Kim, chairman of the board of semiconductor company Amkor Technology, would buy 3.25% through a trust she created for her children, sources said.
Eagles majority owner Jeffrey Lurie, who would still control 85% of the team, is not currently planning to divest further, according to sources. Lurie, who bought control of the team in 1994 for $195M, has had small minority investors since the earliest days of his ownership, including Firstrust Bank Chairman and CEO Richard Green and Mike Michaelson, a longtime partner at KKR. Both sold part of their shares to the new investors in this deal as well.
That approval came on Wednesday when league owners okayed the 8% franchise sale.
The NFL has approved the sale of 8 percent of the Philadelphia Eagles to two family investment groups. The valuation is huge — $8.3 billion, for the sale, which is for a portion of the team alone. Jeffrey Lurie retains control of the team.
— Judy Battista (@judybattista) December 11, 2024
The $8.3 billion figure represents a multiple of roughly 11-12 times revenue and would represent a record price tag for an NFL team.
Laurie has controlled the franchise since May 1994, when he acquired the Eagles from the infamous Norman Braman for a reported $185 million, a record for a sports team at the time.
