NFL schedules special owners’ meeting for potential vote on private equity

Irwin Kishner, co-chair of Herrick's Sports Law Group, was quoted in The Washington Post in an article reporting on a special meeting scheduled by the NFL in which the owners will discuss the potential amendment of league rules to allow investments by private equity firms. The article notes that the NFL ownership rules are "widely regarded as the most restrictive in sports."

The article states that this move could result in several teams selling minority shares and could also increase the pool of bidders the next time a franchise is up for sale. “The NFL has been so successful …. Obviously they’re doing something right,” said Irwin. “So the question is almost like, ‘If it ain’t broke, don’t fix it.’ But … there are franchises now that you could envision going for over $6 billion at this point. And there’s a limited universe. I think if you put private equity in there, it expands that universe more and drives up values.”

The prospective negatives, Kishner noted, would include that “this is, more and more, becoming corporate America as opposed to what you traditionally think of sports franchises being owned by — an owner or family. And they’re the stewards for the community.”

Read the full article in The Washington Post here. Access may require a subscription.