PHILADELPHIA (CBS) – Philadelphia Eagles owner Jeffrey Lurie is exploring a sale of a minority stake in the team, according to a report from Bloomberg Thursday.
Lurie, 72, has owned the team since May 1994, when he bought the Eagles from Norman Braman for a reported $185 million, which was a record for a sports team at the time, according to Bloomberg. The team is now worth $7.5 billion and Lurie has a net worth of $5.4 billion, Bloomberg reported.
Lurie is working with BDT & MSD Partners, a US investment bank headquartered in Chicago and New York City, to generate interest from potential candidates for a stake in the team.
According to Bloomberg, the size of the minority stake has not yet been determined, but interested parties were told that there “will be no path to a controlling stake.” Bloomberg reported that talks are in “early stages” and that a deal may not be reached.
Recently, Lurie has gotten his son, Julian Lurie, more involved in the Eagles’ football activities. The younger Lurie currently holds the title of business and football operations strategy with the team and will likely be his father’s successor.
Since Lurie bought the team in 1994, the Eagles have been one of the most successful teams in the NFL. They have been to three Super Bowls, including winning the first in franchise history in 2018 against the New England Patriots, and have been to the playoffs 17 times.
During that time, the Eagles have a record of 269-211-3, with Lurie leading the franchise.
An Eagles spokesperson declined to comment on the Bloomberg report.
