Sports Legends and Investors Flock to NFL Team Ownership

The Buffalo Bills and Miami Dolphins have become the first NFL teams to sell minority ownership stakes to private equity firms, following the league's recent policy change allowing such investments. Ares Management and Arctos Partners led the deals for the Dolphins and Bills, respectively, each acquiring a 10% stake. This marks a significant shift in NFL ownership dynamics, as the league was the last major U.S. sports organization to permit institutional investors. The Dolphins' deal also includes stakes in Hard Rock Stadium and the Miami Grand Prix.