Private equity firm Arctos has deepened its presence in the NFL by acquiring a 10% stake in the Atlanta Falcons. This deal, valued at $10.6 billion, marks Arctos’s fourth NFL team investment, adding to its existing stakes in the Chargers, Bills, and Browns. The acquisition will occur in two phases, with an initial 7.5% stake purchase, and is pending a vote expected in October. NFL rules permit private equity firms to hold stakes in up to six teams, with a maximum 10% ownership per franchise, making this one of Arctos’s final allowable NFL investments.

The Falcons deal adds to a growing trend since August 2024, when NFL owners overwhelmingly approved a policy allowing private equity firms to buy minority, passive stakes in teams. Currently, six NFL teams have private equity investors, including a 3% Patriots stake held by Sixth Street Partners and a 10% Dolphins stake owned by Ares Management. The NFL’s approach contrasts with other leagues like the NBA and MLB, which allow higher private equity ownership caps both per team and by individual funds.

Arctos’s investment interest extends well beyond the NFL. Owned by global investment giant KKR, Arctos boasts a diversified portfolio across major sports leagues, including NBA teams like the Warriors and Jazz, NHL franchises such as the Lightning and Penguins, and MLB clubs including the Giants and Dodgers. Its holdings also span international soccer through stakes in Liverpool and Paris Saint-Germain, as well as other sports ventures like the Premier Lacrosse League and a college sports consultancy.

KKR’s acquisition of Arctos last year significantly boosted its influence in the sports investment landscape, where private equity is emerging as a major asset class. While other firms have launched dedicated sports divisions, Arctos stands out for its extensive multi-sport portfolio. This Falcons deal further solidifies KKR-backed Arctos as a powerhouse investor in sports franchises, navigating NFL regulations to strategically expand its footprint amid the league’s cautious embrace of private equity ownership.