Owners to Vote on Browns Sale; Arctos to Acquire 3% Stake
NFL owners are expected to vote on the proposed sale of three percent of the Cleveland Browns to the private-equity firm Arctos.
Arctos, which has prior approval to invest in NFL teams, already holds stakes in the Los Angeles Chargers (8%) and the Buffalo Bills (10%).
Key Details of the Sale
- The valuation of the stake is not publicly known.
- The sale will provide the Browns with additional cash as they prepare to build a new stadium.
- The team’s private contribution to the stadium project is over $1.755 billion.