HomeNewsGovernanceAmerican FootballUSA

Blank sells $300m minority stake in Atlanta Falcons

Arthur Blank, the Atlanta Falcons majority owner, has sold a 10-per-cent stake in the team, in a deal that values the NFL franchise at approximately $3bn (€2.65bn).

The $300m stake has been sold to one new investor, Alan Kestenbaum, and to two existing investors: Doug Hertz and Ron Canakaris. Kestenbaum was a runner-up last year in the sale of the Carolina Panthers to David Tepper.

Blank, who is reportedly using the sale to help fund his charitable foundation, remains the principal owner and retains a clear majority of ownership.

The deal was approved by the NFL Finance Committee at the owners’ annual spring league meeting in Phoenix on Monday.

The Home Depot co-founder, who also owns MLS team Atlanta United, bought the Falcons for $545m in 2002. Last year Forbes valued the Falcons at $2.6bn.

Read this: Atlanta Falcons’ concession-pricing trades small revenue dip for major goodwill gains

Read this: Atlanta United use fans as ambassadors to enter global elite for attendance

Most recent

The recent round of video game licensing deals signed by clubs and leagues with EA Sports and Konami show how complicated the video game licensing business has become. Callum McCarthy examines whether it is better to sell rights collectively or go it alone.

IMG Licensing says it has secured contracts with 25 Japanese licensees and 21 global licensees for this year’s Rugby World Cup in Japan. Ben Cronin reports.

Tom Hill, chief commercial officer, World Rugby speaks exclusively to SportBusiness about the commercial programme for the 2019 World Cup in Japan