Eagles owner Jeffrey Lurie is considering selling a stake in the club, as Bloomberg’s Gillian Tan reported last month. Mike Florio of Pro Football Talk makes plain that the size of the stake is uncertain, and that there will be no path to a controlling interest.
As such, it is eminently possible that the sale will not happen at all. Indeed, the club will be valued at $7.5 billion in any transaction (an 11-times multiple of annual revenue), so it will be a pricey endeavor for any buyer, especially since their prospective purchase would not guarantee them a chance to acquire a more significant share.
After all, it appears that the plan is to keep controlling ownership of the Eagles within the Lurie family. Jeffrey Lurie’s son, Julian, participated in the NFL’s two-year program for prospective executives upon his graduation from Harvard, he took part in the Eagles’ head coaching interviews in 2021 — ultimately advising his father as the team transitioned from Doug Pederson to Nick Sirianni — and even spearheaded the interviews for the team’s analytics department. Julian Lurie, now 29, appears poised to someday succeed his 72-year-old father at the top of the franchise.
The NFL currently does not allow private equity or other institutional investment in its clubs, and while that has not yet prevented owners who wish to sell from finding deep-pocketed buyers, the skyrocketing value of NFL teams could soon necessitate a relaxation of the rule. As Brendan Coffey of Sportico.com writes, the league recently retained an investment bank, PJT Partners, to explore the possibility of private equity partnerships.
Naturally, Jeffrey Lurie’s efforts to sell a share of the Eagles would be aided by a revised private equity rule, and as of the time of Tan’s report, those efforts were still in their early stages. Lurie is working with BDT & MSD Partners, a private banking company, to locate potential buyers.
Lurie purchased the Eagles for $195MM in 1994. Under his stewardship, Philadelphia has appeared in three Super Bowls, winning one and dropping the two others by three points. Like many owners of major sports franchises, Lurie has sometimes been accused of meddling too much in matters of on-field personnel, to the point that some saw GM Howie Roseman as a mere conduit for Lurie’s wishes. Of course, Lurie’s push to keep QB Jalen Hurts as the unquestioned starter heading into the 2021 campaign — even when Roseman had doubts about the young passer’s ceiling — turned out to be the right call.