The San Francisco 49ers are considering selling a 10% stake in the franchise at a valuation exceeding $9bn, making it one of the most valuable sports teams globally, according to sources familiar with the matter.

The team has yet to determine whether to seek a private equity buyer or a high-net-worth individual or family investor. Discussions are ongoing, with no certainty that a deal will proceed. The 49ers declined to comment.

The potential sale comes amid a surge in NFL franchise transactions following last year’s approval of private equity investments in teams. The league has encouraged stake sales to enhance liquidity for owners and fund stadium developments or renovations.

Other NFL teams have taken similar steps. The Philadelphia Eagles explored private equity investment before selling stakes to high-net-worth individuals, valuing the team at $8.3bn. The Miami Dolphins reached an $8.1bn valuation after selling stakes to Ares Management and Alibaba co-founder Joe Tsai. The Buffalo Bills also sold stakes to Arctos and other limited partners, though financial details were undisclosed.

The 49ers, owned primarily by CEO Jed York, are following a trend seen with the New York Giants, which hired Moelis & Co. to sell a minority stake. York, who became the team’s principal owner in March 2024 after acquiring shares from his family, oversees a franchise with deep-rooted NFL success. The 49ers, originally purchased for $13m in 1977 by Edward J. DeBartolo Sr., have won five Super Bowls and expanded their global presence by acquiring English football club Leeds United in 2023.

With NFL franchise valuations soaring, the 49ers’ potential stake sale underscores the growing appeal of sports investments among private equity firms and institutional investors.