Arctos to acquire 3% Browns stake as NFL opens PE access
TL;DR
The Cleveland Browns are set to vote on selling a 3% stake to Arctos, a private-equity fund that already owns stakes in the Chargers and Bills; valuation hasn't been disclosed, but at a roughly $10 billion Browns value the stake would be about $300 million. The sale would inject cash as Cleveland pursues a new stadium financed with private contributions exceeding $1.755 billion.
- Browns will sell three percent of team to the Arctos private-equity fund NBC Sports
- The Cleveland Browns Will Sell 3 Percent Of Their Franchise Yahoo Sports
- Browns could have new minority owners, who also own parts of 2 other teams Dawgs By Nature
- $6.4bn NFL franchise selling off part of team to investor that already holds stake in two rivals talkSPORT
- The NFL’s private equity obsession threatens competition SB Nation
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