NFL partners with General Atlantic to expand investment platform beyond 32 Equity
The NFL has approved a new investment venture with private equity firm General Atlantic, expanding on its existing 32 Equity arm to pursue opportunities in sports, media, technology, and fan-facing businesses. The league will serve as a general partner in the new vehicle, a structure that would allow owners to earn both equity upside and a share of carried interest — a profit mechanism that does not currently exist within the NFL's existing business. Funding will come from both 32 Equity and General Atlantic, with outside capital also described as likely. The arrangement is notable because, like 32 Equity before it, profits from the new vehicle would fall outside the revenue shared with players under the salary cap.
The move could set NFL owners up for a brand new revenue stream.
Why it matters
For brands: Companies operating in sports, media, and fan engagement technology are potential targets for investment by a vehicle backed by the NFL and a major private equity firm.
For media: The new fund is focused in part on media and technology businesses, signaling continued NFL interest in acquiring stakes in companies across the media landscape.
For athletes: Profits from the new vehicle sit outside the salary cap revenue pool, meaning players do not share in returns generated through this structure.
Read the full story at Sportico
Sources
- Sportico · Eben Novy-Williams: NFL Launches Bigger, Richer Investment Platform
- Huddle Up · Joe Pompliano: NFL Owners Are Getting Into the Private Equity Business