The Cleveland Browns sold 10% of the club at a valuation of more than $9 billion to private equity firm Arctos Partners. The deal will be completed in three separate tranches, sources familiar with the matter told Bloomberg. NFL owners approved the first tranche, representing a 3% stake in the team, while approvals for the remaining two portions are expected at a later date. “The Cleveland Browns are one of the NFL’s most iconic and historic franchises, with a deeply loyal fan base and a leadership team committed to both the future of the organization and the surrounding community,” Chad Hutchinson, partner at Arctos said in a statement. “We are excited to join the Browns as a limited partner and support the organization’s long-term priorities.” data-variant="card" data-news-mode="manual" > Read Also: Federal Judge Calls US Crackdown On Anthropic 'Spectacular Overreach' The Cleveland Browns are valued at $6.1 billion, ranking them 23rd among the NFL's 32 franchises, according to Sportico, a digital content company ... Full story available on Benzinga.com
Private Equity's NFL Buying Spree Continues With Browns Deal At $9 Billion Value
