Breaking Down the Patriots’ Minority Stake Sale

By: Evan Upatham

November 3, 2025

Photo Credit: CNBC

After more than three decades of complete family control, the Kraft family is opening the door to new investors. On September 25, 2025, Robert Kraft announced that the New England Patriots will sell an 8% minority stake at a valuation of $9 billion. The minority stake will go to two different buyers. The first is Dean Metropoulos, who is the billionaire behind brands like Pabst Blue Ribbon and Hostess. He will purchase a 5% stake for about $450 million. The second is Sixth Street, a private equity firm that has already invested in sports teams, including the Boston Celtics and San Francisco Giants. The firm will acquire a 3% stake for about $270 million.

It is worth noting that the money from the sale will stay within the Patriots organization rather than going to Robert Kraft personally. This means the franchise will add roughly $720 million in liquid funds, which can be used towards projects like upgrading Gillette Stadium, enhancing player technology, hiring additional performance staff, and more. The Patriots’ deal still awaits formal approval at the league’s owners meeting on October 22–23, but it will most likely be approved since the deal has already made it this far in league voting.

The move comes after a major 2024 NFL policy change that, for the first time, allowed private equity firms to buy up to 10% ownership of a team, as long as their role remains passive and non-voting. This restriction by the NFL is designed to protect franchise stability and prevent profit-driven investors from influencing football decisions. The Patriots will soon join a lengthy list of teams that have brought in outside investors: the Las Vegas Raiders, Chicago Bears, New York Giants, Los Angeles Chargers, San Francisco 49ers, Cleveland Browns, Buffalo Bills, Miami Dolphins, and Philadelphia Eagles (listed in order from most recent to oldest).

Despite the headlines, Patriots fans shouldn’t expect much change. The Kraft family remains firmly in control, retaining majority ownership and full authority over football operations. Also, it is unclear if the deal includes ownership of assets such as Gillette Stadium, Patriot Place, or surrounding real estate. For the Kraft family, it’s a full-circle moment. After buying the Patriots for $172 million in 1994, they’ve now sold 8% of the team for more than four times what they paid for it. A return like this is why private equity firms are so eager to invest in sports franchises as high-growth, low-supply investments.

Ultimately, the Patriots’ $9 billion stake sale shows how teams are operating more business-like than ever before, with owners bringing in investors to raise capital, share costs, and keep up with the growing financial side of the game. One thing is certain: more deals like this are on the way.