Two buyers have cut a deal to buy an 8% stake in the New England Patriots. The deal, which will require league approval, will give the team a valuation of more than $9 billion. New England Patriots owner Robert Kraft speaks to media at Gillette Stadium to announce the team’s hiring of head coach Jerod Mayo. Eric Canha | USAToday | Reuters
Robert Kraft, who paid $172 million for the New England Patriots in 1994, has agreed to sell 8% of the NFL team to two groups in a deal that values the franchise at $9 billion, according to two sources who have first-hand knowledge of the deal but are not authorized to speak about it publicly.
The money the team will get from selling the 8% stake is going to stay on the Patriots’ balance sheet, according to one person close to the situation, meaning the post-money valuation of the Patriots is greater than $9 billion.
The sale does not include the New England