NFL team owners have voted to allow private equity firms to invest up to 10% in any of the 32 franchises, marking a significant shift in the league's ownership structure. The move, approved at a special meeting in Minnesota, aims to provide teams with increased liquidity for reinvestment. Approved firms include Arctos Partners, Ares Management, Sixth Street, and a consortium with Blackstone, Carlyle, CVC, Dynasty Equity, and Ludis. Investors must commit a minimum of $2 billion and hold their stakes for at least six years. This decision aligns the NFL with other major U.S. sports leagues that already allow private equity investments, potentially boosting team valuations and enabling infrastructure improvements.