What Franchising Can Teach The NFL About The Impact of Private Equity
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Institutional capital, including private equity, pension funds and sovereign wealth funds, are currently prohibited from ownership stakes in National Football League teams. But now, the NFL is pondering whether to allow institutional investors to buy in. The league has been considering this issue for some time, including studying the NBA, NHL and MLB, all of which allow some form of private equity investment in teams.
But what are the learnings from institutional players such as private equity firms investing in business-format franchising (e.g.