Private Equity Ownership of NFL Teams: Brand Association and Functional Congruence Economic Opportunities

In 2024, the National Football League (NFL) permitted teams to sell limited partnerships to private equity firms. NFL owners benefit from private equity investment through an injection of capital, access to experienced management consultants who can assist in solving complex business problems, and increasing team valuations by expanding the number of potential bidders for ownership. Private equity firms benefit economically from the NFL’s financial stability and high-growth potential driven by a large, passionate fan base. To complement this economic rationale, this article contends that private equity firms have valuable economic opportunities through their NFL team partnerships. The sponsorship concepts of brand association and functional congruence can help private equity firms achieve brand objectives of acquiring investors and attracting businesses for private equity activity.