A new high-water mark has been set for the value of National Football League (NFL) teams, with the Chicago Bears reportedly worth US$8.9 billion (A$13.5 billion) based on a transaction approved by the NFL.
The NFL finance committee approved the sale of 2.35% of the team by the estate of Andrew McKenna to the two other shareholders, according to CNBC.
The McCaskey family will lift its ownership to 77% by acquiring two-thirds of the stake and the Ryan family will move to 23% with the balance, CNBC wrote in this story, citing people familiar with the deal who asked not to be identified.
This beats the $8.6 billion record based on the sale of a minority shareholding set for the San Francisco 49ers in May, when a 6.2% stake changed hands, and the Bears’ last valuation of $6.4 billion a year ago.
Investors typically pay a premium for control of any company, although CNBC reported smaller stakes below 10% can, in fact, sell at a higher premium than control shareholdings because of the smaller outlay and rarity in gaining access.
The last control sale of an NFL team was Josh Harris’ purchase of the Washington Commanders for $6.05 billion in 2023.
