For the first time since 1994, Robert Kraft is set to own less than 100 percent of the Patriots.
According to Ben Fischer of Sports Business Journal, Kraft (as head of the Kraft Group) is divesting eight-percent of his stake in the team as part of the NFL’s updated private equity policy from 2024.
Specifically, global investment firm Sixth Street reportedly has agreed to a deal to take a three-percent stake in the Patriots at a team valuation of more than $9 billion. The other five-percent Kraft made available is being purchased Greek-American billionaire Dean Metropoulos, per Fischer.