The NFL may soon allow private equity firms to buy significant ownership stakes in teams, NFL Commissioner Roger Goodell said in an interview Thursday as he kicked off the second day of a “summer camp for billionaires” hosted by Allen & Company.
Goodell, one of dozens of technology, media, business and sports bigwigs gathered at the posh Sun Valley conference, said the NFL aims to revise its team ownership rules by the end of the year.
“We’ve had a lot of interest. [from private equity firms]”And I think this makes sense for us in a limited way, probably less than 10% of the team.” Goodell told CNBC. “We think it will be something that can complement our tenure and support our tenure policy.”
Buying an NFL team has become an increasingly expensive proposition in recent years, with all but the world’s wealthiest individuals barred from the process, and Goodell said the 10% threshold could be raised over time if the league is happy with the move.
The attendee roster for this year’s Sun Valley conference included controversial Microsoft co-founder Bill Gates, who was photographed strolling the resort grounds with his girlfriend, Paula Heard.
Gates and Heard began dating after his divorce from Melinda French Gates, who said in 2022 that her ex-husband’s past relationship with the late sex offender Jeffrey Epstein was a factor in their separation.
Other notable power couples spotted in Sun Valley included Amazon co-founder Jeff Bezos and his fiancée Lauren Sanchez, who were seen lounging in a golf cart between meetings, and supermodel Karlie Kloss and her husband, Thrive Capital president Josh Kushner.
Legendary Pittsburgh Steelers coach Bill Cowher was seen chatting with Boston Red Sox billionaire owner John Henry, while Alice & Olivia CEO Stacey Bendet Eisner made a fashionable appearance with a cowboy swagger, oversized sunglasses and a trench coat.
Former Facebook executive Sheryl Sandberg was in a heated debate with former New York City Mayor Michael Bloomberg.
Media legend Oprah Winfrey was photographed strolling in a white sweater and jeans with longtime friends CBS News anchor Gayle King, CNN’s Van Jones and Erin Burnett.
Meanwhile, Shari Redstone’s deal to merge Paramount Global with Skydance Media has been dominating the conversation in Sun Valley, where top executives meet each year to socialize at informal events. Of note, the NFL has a TV deal with CBS, a subsidiary of Paramount.
In the interview, Goodell did not rule out the possibility that the NFL would reconsider its relationship with CBS if the deal goes through.
“We’ll look at the structure of the contract,” the commissioner said, “and see how it impacts us. We’ll see how it impacts our business. And then we’ll make the decision that’s best for the NFL at that time.”
Paramount’s deal with Skydance includes a 45-day “go-shop” period during which Redstone can consider outside offers, and if Paramount receives another offer and Skydance doesn’t match it, it will have to pay a $400 million break-up fee.
It could have been a last-minute development, but billionaire IAC Chairman Barry Diller indicated to reporters gathered in Sun Valley that he had not ruled out making an offer.
