The Eagles and owner Jeffrey Lurie are getting approval from the NFL for the sale of an 8% interest in the team to two family investment groups, a league source confirmed to NBC Sports Philadelphia.
Lurie will maintain control of the team.
This sale was based on a valuation of $8.3 billion, which is an important note. Lurie bought the Eagles in April 1994 from Norman Braman for $185 million.
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The Eagles have made no official comment on the sale.
Back in June, Bloomberg reported that Lurie was exploring the possibility of selling a minority ownership stake. At that time, the valuation according to Bloomberg was estimated to be about $7.5 billion.
Lurie used the firm BDT & MSD as his financial advisor during this transaction.
Fit was an important element of this sale for the Lurie family, according to a source. They landed on investors Susan Kim, who is the chairwoman of the Board of Amkor Technology, along with Zac Peskowitz and Olivia Peskowitz Suter.
Lurie is the seventh owner of a franchise that was founded in 1933 by Philly natives and former Penn football teammates Bert Bell and Lud Wray.
Lurie, 73, has now owned the team for over three decades and has owned them by far the longest of any owner. The next closes was Leonard Those, who owned the franchise from 1969-1985 before selling the team to Braman.
In the 31 seasons since Lurie bought the team, the Eagles have been a playoff team 19 times.
In recent years, Lurie’s son, Julian, has become increasingly involved in running the franchise.
Julian Lurie is a Harvard graduate and in 2017 entered the NFL’s two-year rotational program designed to teach participants about the league in a variety of departments. In June of 2022, Julian Lurie was named to an official role with the Eagles: Business and football operations strategy.
“Like a lot of children of families that own teams, kind of bring them along,” Jeffrey Lurie said in March of 2022. “I want to expose him to all aspects of both the business side and the operational side. The nuts and bolts and also the strategy side. He’s a real sharp guy and he’s going to have so much more going into it than I ever did if he chooses to want to someday own and run the team. He’s going to have a gigantic advantage. Maybe he won’t make some of the early mistakes I made.”
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