Another week goes by, another sports team get sold-or, at least, part of a sports team.
Arctos Partners has agreed to buy a 10% stake in the Atlanta Falcons at a $10.6 billion valuation, CNBC reported Thursday, citing two people familiar with the matter. Arthur Blank, the co-founder of Home Depot, is the majority owner, though it wasn't clear if Arctos is buying part of his stake.
Arctos and the Falcons declined to comment on the report, though a Falcons spokesperson noted that any transaction is contingent on a vote by National Football League owners. Fall league meetings are scheduled for late October.
The Falcons' $10.6 billion valuation would be a record for the NFL, CNBC notes. Blank purchased the franchise in 2002 for what now looks like a bargain at $545 million.
The reported agreement continues a summer full of high-profile transactions in professional sports. Former owners are cashing in on skyrocketing team valuations-spurred by years of rising broadcast revenue-while a new class of investors looks to get in on the action.
Former Walt Disney CEO Bob Iger and venture capitalist Joshua Kushner agreed to buy a majority share of the Los Angeles Lakers at a $12.5 billion valuation last week.
That followed British investor Amit Bhatia forming a consortium including Amazon.com founder Jeff Bezos and Facebook co-founder Eduardo Saverin to buy a minority stake in English Premier League team Liverpool Football Club.
In July, an investor group led by venture capitalist Vinod Khosla and his family agreed to buy the defending Super Bowl-champion Seattle Seahawks for $9.6 billion.
As soccer analysts Michael Caley and Mike Goodman have pointed out in recent years, virtually no individuals can afford to buy teams outright anymore. Investors consortiums and institutional firms like Arctos have emerged as go-to buyers for owners in search of an exit.
Arctos, which was acquired by private-equity giant KKR & Co. earlier this year, already owns stakes in the Buffalo Bills, San Diego Chargers, Liverpool, and several teams across the National Basketball Association, National Hockey League, Major League Baseball, and Major League Soccer.
The Falcons would mark the 76th team in North America's five largest men's professional leagues with private-equity ties, according to PitchBook.