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The Philadelphia Eagles sold two minority stakes in the team to value the franchise at more than $8.1 billion.
Assuming NFL owners approve the transaction, the family trust of former Atlanta Hawks owner Ed Peskowitz will take a 4.75% stake in the team led by his children Zachary Peskowitz and Olivia Suter. Ed Peskowitz is also the cofounder of United Communications Group, which publishes books and periodicals.
The other stake will go to a trust created by Susan Kim, executive vice chairman of Amkor Technology, which provides semiconductor packaging, design, and test services. Kim would retain a 3.25% stake in the team. The news was first reported by Sports Business Journal. Combined, the two stakes represent 8% of the team.
Eagles owner Jeffrey Lurie had been looking to divest a minority stake in the franchise since the NFL opened the door to private equity firms to invest up to 10% in teams in August. The ability to do so has had a two-fold effect: It has boosted team valuations and given owners easier access to cash. NFL owners will meet in Dallas on Dec. 10 to discuss the deal along with other potential deals. The purchase needs approval from 24 of the 32 owners to go through.
The NFL, Eagles and Kim declined to comment on the matter; Peskowitz did not respond to a request for comment.
The valuation would tie the Eagles’ for the NFL’s second-most valuable team, according to Forbes’ rankings, only trailing the Cowboys, which are estimated to be worth more than $10 billion. The Dolphins have an identical valuation to the Eagles at $8.1 billion with owner Stephen Ross planning to sell 13% of the team, with 10% going to private equity firm Ares Management and 3% going to Brooklyn Nets and New York Liberty owner Joe Tsai.
Kim’s interest in the Eagles was mentioned in late October right before her father, James Kim, stepped down as Amkor’s executive vice chairman, which led to her promotion as chairman of the board.
