According to a report by Michael Ozanian and Jessica Golden at CNBC, the private equity firm Arctos has agreed to buy 10% of the Atlanta Falcons from team owner Arthur Blank at a $10.6 billion valuation.
That means Mr. Blank (or his limited partners) will be getting a cool $1.6 billion from the partial sale, although it won't be coming all at once. CNBC's report states Arctos will be paying for the 10% ownership in two installments over the next 18 months.
"Private equity firm Arctos has agreed to buy 10% of the Atlanta Falcons, according to two people who asked not to be named because they are not authorized to speak on the matter. Arthur Blank currently owns just under 73% of the Falcons. It is unclear if the 10% being sold is just Blank's stake or includes limited partners."
The Falcons were recently ranked one of the NFL's 10 most-valuable franchises, having risen 39% in value over the last calendar year.
Neither the franchise nor Arctos responded to a request for comment on the report.
#falcons #atlanta #according #firm
That means Mr. Blank (or his limited partners) will be getting a cool $1.6 billion from the partial sale, although it won't be coming all at once. CNBC's report states Arctos will be paying for the 10% ownership in two installments over the next 18 months.
"Private equity firm Arctos has agreed to buy 10% of the Atlanta Falcons, according to two people who asked not to be named because they are not authorized to speak on the matter. Arthur Blank currently owns just under 73% of the Falcons. It is unclear if the 10% being sold is just Blank's stake or includes limited partners."
The Falcons were recently ranked one of the NFL's 10 most-valuable franchises, having risen 39% in value over the last calendar year.
Neither the franchise nor Arctos responded to a request for comment on the report.
#falcons #atlanta #according #firm
3 months ago
