It is a big deal for both parties and expectations are that a number of teams will look to move quickly into the end zone and secure PE dollars by the end of the year. The NFL is the last remaining US professional sports league to open up to PE investment and as the league convenes it will likely agree to cap private equity investment at 10% of a team’s overall value. With no voting rights. Quite what this will do to team valuations is anyone’s guess, but any investment made by PE firms will be far from a nickel and dime affair. The Dallas Cowboys are currently the richest franchise, with a valuation of $10 billion. You could say today represents the NFL’s game winning drive. With sports franchises proving a hugely popular investment theme, it’ll be interesting to watch some of the PE industry’s big names jostle for position. Let the game commence.