Sale of Eagles Stakes Finalized

Philadelphia Eagles owner Jeffrey Lurie has sold an 8% stake in the team to two family investment groups, valuing the franchise at $8.3 billion. Despite the sale, Lurie retains full control of the team, which he purchased in 1994 for $185 million. The Peskowitz family trust holds a 4.75% share, while the Kim family trust has acquired a 3.25% share. This move follows Lurie's exploration of various investment options, including private equity, due to NFL rule changes allowing such investments. The transaction highlights the significant rise in the value of NFL franchises, with the Eagles being the ninth most valuable team according to CNBC's September valuations. The funds from this sale have not been publicly allocated, although they could potentially support future team or facility developments.