The NFL Plays with PE in Competition for the Future of Sport

The National Football League (NFL) is following in the footsteps of rugby, soccer, golf and tennis as the global sports industry transitions away from traditional broadcast media. 

The NFL’s approval of franchise investment into American football by private equity is now bearing fruit. This policy shift, approved unanimously by NFL owners in August, aims to provide football team owners with new liquidity options amidst unprecedented franchise valuations and a shifting media landscape. 

The Buffalo Bills and Miami Dolphins became the first NFL franchises to embrace this opportunity, forging deals with Arctos Partners and Ares Management, respectively. The transactions reportedly...