Jeff Lurie, who purchased the Eagles 30 years ago, is considering selling a minority ownership stake, as per a Bloomberg.com article citing anonymous sources. Lurie acquired the Eagles in April 1994 from Norman Braman for $185 million, and the team is now valued at approximately $7.5 billion. Lurie is reportedly collaborating with the investment bank BDT & MSD to look for potential buyers, clarifying that there is no possibility of attaining a controlling interest stake.
The exact percentage of the franchise that may be sold has not been finalized, and there is a chance that no deal will materialize from these discussions, according to Bloomberg. With the Eagles asserting that there is no path to achieving a controlling interest, it implies that significant changes to the franchise’s day-to-day operations may not occur if a deal is reached, and fans would likely not notice any significant alterations.
An earlier Bloomberg report stated that NFL owners are anticipated to vote this year on allowing private equity firms to acquire ownership stakes in NFL teams. Lurie, who is 72 years old, has been the owner of the Eagles for nearly twice as long as any other owner. Leonard Tose was the owner from 1969 to 1985, when he sold the team to Braman.
Founded in 1933 by Bert Bell and Lud Wray, the Eagles have had seven owners since then. In recent years, Lurie has increasingly involved his son Julian in team operations with the intention of ultimately handing over control of the franchise to him. Julian currently holds the position of business and football operations strategy within the team.
During the 2022 NFL owners meetings in Palm Beach, Florida, Lurie disclosed that his son shares his passion for the sport and the Eagles. He plans to expose Julian to all aspects of the business and operations departments within the franchise. Lurie expressed confidence in his son’s abilities, believing he will be better equipped to handle ownership of the team than he was. The Eagles declined to comment on the report at this time.