The NFL has approved Philadelphia Eagles’ owner Jeffrey Lurie’s plan to sell a combined 8 percent of the team to two new investors, writes John George for the Philadelphia Business Journal.
The family trust of United Communications Group co-founder Ed Peskowitz, led by his children Zachary Peskowitz and Olivia Peskowitz Suter, has acquired a 4.75 percent stake. Meanwhile, Susan Kim, board chair of semiconductor product packaging company Amkor Technology, has acquired a 3.25 percent stake in the team.
The deal to expand the Eagles’ ownership team has increased the franchise’s value to $8.3 billion.
Even after the sales, Lurie will continue to have complete control of the franchise with an 85 percent ownership stake. According to a source familiar with the transaction, Lurie has no plans to divest further.
Lurie originally purchased the franchise in 1994 for $195 million from Norman Braman, who made a $120 million profit on the deal.
The newest minority owners join the likes of Firstrust Bank executive chairman Richard Green and longtime KKR partner, Mike Michaelson. Both of them sold a portion of their shares to the new investors as part of these deals.
Read more about the Eagles’ two pending minority stake sales at the Philadelphia Business Journal.
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