In a recent development, a select committee of NFL owners is contemplating changes to the league's ownership rules, aiming to broaden the pool of potential buyers interested in acquiring a stake in an NFL team. ESPN's Michael Rothstein reported that one possible change being considered is permitting institutional wealth, including private equity, to invest in NFL franchises—a practice never before allowed by the league.

Allowing such investments could have significant implications for the NFL and its owners. Notably, the revenue generated from selling minority stakes in a franchise would create additional funds for owners to pursue ambitious projects like stadium renovations. This proposal has sparked discussions within the committee as they explore potential avenues for diversifying ownership.

The move comes at a time when the NFL's financial prosperity seems boundless. The league continues to amass unimaginable wealth, leading to skyrocketing valuations for its 32 teams. Last year, Forbes valued the Cincinnati Bengals—the NFL's least valuable team—at a staggering $3.5 billion. These soaring valuations have been evident in recent ownership sales, with both the Denver Broncos (2022) and Washington Commanders (2023) fetching record-breaking prices.

However, the increasing valuations present a challenge for aspiring NFL owners, as the barrier to entry becomes higher and higher. The cost of purchasing a team is now beyond the financial reach of many, limiting the pool of potential suitors. Ted Leonsis, the owner of the NBA's Washington Wizards, NHL's Washington Capitals, and WNBA's Washington Mystics, expressed skepticism about whether opening up ownership to institutional wealth would necessarily result in a windfall for proponents of the idea.

The proposed changes to the NFL's ownership rules demonstrate the league's willingness to adapt and explore new possibilities to ensure its continued growth and financial success. By potentially allowing institutional wealth, including private equity, to invest in NFL franchises, the league aims to widen its ownership base, foster innovation, and provide additional funding for vital projects that enhance the overall NFL experience for fans.

As the committee delves deeper into these discussions, the future of NFL ownership is poised for transformation. The potential advent of institutional wealth in team ownership could revolutionize the league's structure, paving the way for a more inclusive and financially robust NFL landscape.