Apollo and Blackstone seek approval for NFL investments
Apollo Global Management and Blackstone are in preliminary discussions with the NFL to become approved private equity investors eligible to acquire minority stakes in franchises, according to Bloomberg.
Major alternative asset managers Apollo Global Management and Blackstone have engaged in preliminary discussions with the National Football League (NFL) to secure approval to acquire minority stakes in US football franchises. Both firms are seeking inclusion on the league's approved investor list. The discussions remain at an early stage, with approval unlikely before 2027, and the firms may need to identify specific franchise investments before completing the approval process.
The NFL opened franchise ownership to institutional investors in 2024, allowing approved private equity firms to acquire minority interests. The policy provides team owners with additional capital for stadium development and estate management.
Apollo is pursuing the opportunity via Apollo Sports Capital, its dedicated sports investment platform launched in 2025. The platform has invested or committed approximately $13 billion across sports transactions.
Blackstone previously participated in an approved investment consortium alongside CVC Capital Partners, Carlyle Group, and Dynasty Equity Partners. However, Blackstone and CVC subsequently withdrew, and Blackstone is now seeking approval independently.
Other approved investors under the NFL's framework include Arctos Partners, Ares Management, and Sixth Street, alongside the Carlyle-Dynasty partnership. Arctos has acquired stakes in four franchises, including the Buffalo Bills and the Los Angeles Chargers. Institutional interest has intensified alongside rising franchise valuations, with the Seattle Seahawks recently selling for a record $9.6 billion, surpassing the approximately $6 billion sale of the Washington Commanders in 2023.