Why the community-owned Green Bay Packers are NFL fans’ Hail Mary as private equity takes the field
Call it the people’s team verses PE. As big money defines pro football competition, from stadium real estate development projects to nine-figure salaries, can the Pack thrive without a billionaire in their backfield?
In late August, the estate of Paul G. Allen sold the Seattle Seahawks NFL franchise to an ownership group led by venture capitalist Vinod Khosla for $9.6 billion. The values of major American sports franchises are soaring, and most owners don’t have to sell outright to raise cash for their operations.
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