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Investing.com -- The Los Angeles Chargers, an NFL team, are reportedly in advanced discussions with private equity firm Arctos Partners to sell a minority stake in the team. The information comes from Bloomberg, citing sources familiar with the matter.
The LA Chargers could become the third NFL team to enter into a deal with a private equity firm. This follows a change in the NFL’s investment rules that now allows institutional capital to acquire minority stakes in teams.
The LA Chargers, like many other NFL teams, have held talks with all four private equity groups approved by the league. However, the negotiations with Arctos Partners are currently the most advanced, according to one source.
In August, NFL owners relaxed some of the most stringent ownership rules in professional sports. This change allowed private equity firms to own up to 10% of a team.
Arctos Partners was one of the first two private equity firms to purchase a stake in an NFL franchise. In December, Arctos acquired a 10% stake in the Buffalo Bills.
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