Jeffrey Lurie exploring sale of minority stake in Eagles, per report; this famous Philly celebrity interested

USATSI

PHILADELPHIA — Jeffrey Lurie is considering selling a minority stake in the Philadelphia Eagles, per a report by Bloomberg News. However, there’s one condition: The buyer won’t have an opportunity toward owning a controlling stake of the team.

Basically, the Lurie family will still be the majority owners of the Eagles — no matter who joins the ownership group. 

The Eagles will be valued at $7.5 billion for this move, according to Bloomberg, significantly more than the $194 million Lurie spent when he purchased the Eagles in 1994. Lurie, 72, oversees the franchise, but has been in a transition process of giving that title to his son, Julian. Julian Lurie currently holds the title of business and football operations strategy with the team. 

The report comes a month after NFL owners pushed back a vote to allow private equity firms to purchase stakes in franchises. There has already been one interested buyer who has a deep connection to the city, Philadelphia’s own Rob McElhenney.

McElhenney posted on social media for Lurie to “check his DMs.” A co-owner of Wrexham Football Club in England with Ryan Reynolds, McElhenney is no stranger to the ownership scene.

McElhenney is also part of an investor group that bought a 24% equity stake in the Alpine F1 Team last season. Adding a minority stake in the Eagles would be another investment in ownership.

The Eagles were valued at $5.95 billion in 2023, a 27% increase over the previous year. Per Forbes, the Eagles are the ninth-most-valuable franchise in the NFL. 

Source link : https://www.cbssports.com/nfl/news/jeffrey-lurie-exploring-sale-of-minority-stake-in-eagles-per-report-this-famous-philly-celebrity-interested/

Author : Jeff Kerr

Publish date : 2024-06-07 12:35:39

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