The Atlanta Falcons have agreed to become one of the latest NFL franchises to sell a minority stake to a private equity firm, under rules the league introduced two years ago.
The Atlanta Falcons ownership group has sold a 10% stake in the NFL franchise to private equity firm Arctos, putting the total valuation of the Falcons at $10.6bn.
According to two anonymous sources who spoke to CNBC, the deal is set to be reviewed and voted on for approval by the NFL Board of Governors in October 2026.
Arthur Blank is the majority owner with a 73% stake in the Falcons. It has yet to be confirmed whether Arctos is acquiring 10% of Blank’s majority holdings, or if it is acquiring other shares in the team.
Sportico has revealed Arctos will initially acquire a 7.5% stake in the Falcons, with the latter 2.5% being finalised at a later date.
Blank bought the Falcons in 2002 in a deal worth up to $545m. In May 2024, the Falcons added four limited partners to its ownership group, Falcons Limited Partners; Rosalind Brewer, Dominique Dawes, Will Packer and Rashaun Williams.
As of August 2025, Forbes estimated the Falcons’ valuation at $6.35bn. This came from a revenue of $612m and operating income of $37m.
The Falcons are one of many NFL teams to have sold off minority shares in their franchises to boost investment and capital following the introduction of new rules in August 2024.
Arctos’ latest NFL investment
The Falcons become the latest NFL team stake acquisition as part of Arctos’ growing portfolio.
Arctos owns a 10% stake in the Buffalo Bills, which it acquired for $560m. In 2025, the private equity firm then acquired an 8% stake in the Los Angeles Chargers, and a 3% minority share in the Cleveland Browns, which was approved in May 2026.
The firm also owns minority stakes in other global sporting teams, including the Boston Red Sox, Chicago Cubs, Golden State Warriors, Liverpool F.C., Los Angeles Dodgers, Paris Saint-Germain, Philadelphia 76ers and Pittsburgh Penguins.
Arctos has capitalised on the NFL’s franchise ownership and investment rules it introduced in August 2024.
The rules state that any external investment from a private equity or capital management firm, can be sold for a capped 10% minority share. The rules state new investors must adhere to a six-year holding period and not exceed a maximum of six investments across multiple NFL franchises. Direct investment from sovereign wealth funds is prohibited.
In January 2026, Arctos was acquired by KKR & Co., a US-based investment firm with shareholding that span across multiple industries and markets. At the time of the deal, it valued Arctos at $1.4bn.
After being acquired by KKR, there was no change to leadership roles. Co-Founders Ian Charles and Doc O’Connor retained their roles, while working underneath KKR’s newly established unit, KKR Solutions.
With other management roles also remaining unchanged, it suggests KKR are satisfied with Arctos’ previous approach to sports investments, highlighted by the recent reports of acquiring the 10% stake in the Falcons.
