Robert Kraft has agreed to sell an 8% stake in the New England Patriots to Sixth Street Capital and billionaire Dean Metropoulos, in a deal that values the NFL franchise at more than $9bn, according to CNBC.

Sixth Street will acquire about 3% of the team, while Metropoulos will take roughly 5%. The proceeds from the sale will remain on the Patriots’ balance sheet. The transaction does not include the Kraft family’s ownership of Major League Soccer side New England Revolution.

The deal, which still requires approval from the NFL’s finance committee, continues a trend of record-setting valuations for US football franchises. Recent sales include a 10% stake in the New York Giants to Julia Koch at a $10.3bn valuation, a 3.2% stake in the San Francisco 49ers at $8.6bn, and a 2.35% stake in the Chicago Bears at $8.9bn.

Kraft purchased the Patriots in 1994 for $172m. Since then, the team has won six Super Bowls, all under his ownership, and owns Gillette Stadium, which underwent a $250m renovation in 2023. Last season, the Patriots reported $118m in ticket revenues, ranking 11th in the league.

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