Eagles owner Jeffrey Lurie is looking to take a little money off the table. Or, as the case may be, a lot.
Via Gillian Tan of Bloomberg News, Lurie is exploring the potential sale of a minority interest in the team. The sale will be based on a total valuation of $7.5 billion, which represents an 11-times multiple of annual revenue.
The size of the stake hasn’t been determined. There will be no path to control over the franchise. That could make it difficult to get a price based on such a significant valuation.
The situation would seem to make the Eagles a prime candidate for the eventual private equity rules. For now, talks are reportedly at an early stage, and it’s possible no sale will be made.
Lurie became majority owner of the Eagles in 1994. He purchased the team for $195 million.