The San Francisco 49ers could be the next team to strike gold from private equity’s rush into the NFL. The team is exploring selling a roughly 10% stake, according to someone with direct knowledge of the details.
The 49ers are valued at $6.86 billion in Sportico’s most recent rankings, good for fifth in the NFL. The Philadelphia Eagles currently own the record for highest valuation in an American pro team transaction after selling 8% of itself at a $8.3 billion mark in December. The NFL opened its doors to club-level investments from private equity firms for the first time last year, sparking several transactions. A slice of the New York Giants is also on the market now.
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At the same time, San Francisco’s business arm, 49ers Enterprises, is seeking a control stake in Scottish soccer club Rangers FC, a person familiar with the matter told Sportico. This isn’t 49ers Enterprises’ first foray into soccer; the business also owns Leeds United, which plays in the English Championship, the division below the Premier League.
A 49ers’ spokesperson declined to comment on the potential transactions. Bloomberg first reported the 49ers’ sale plans.
Much like the Miami Dolphins, who sold a 10% stake to Ares at an $8.1 billion valuation last year, the 49ers umbrella company controls more than a football team. It has an ownership stake in sports agency Elevate. While it doesn’t own Levi’s Stadium, where the 49ers play their home games, the franchise will help host the 2026 Super Bowl and multiple World Cup matches in 2026. Ahead of time, the 49ers announced $200 million in venue renovations.
Then there are its other football holdings. While Leeds United fights to return to the Premier League—it’s currently first in the Championship—Rangers have been the winningest club in Scotland, with 55 titles in what is now the Scottish Premiership. Rangers have also appeared in UEFA’s Champions League or Europa Leagues competitions every year since 2018.
The team generated £88.3 million (~$111 million) in revenue during the 2023-24 year, though its operating losses jumped to £13.3 million, from £1.1 million the year prior, in large part due to fluctuations in player movement. That revenue figure would put it in the upper echelon of Major League Soccer teams but below all the teams in England’s Premier League.
The Glasgow side has only bested crosstown rival Celtic for the league title once since 2011. Ten parties owned at least 4% of Rangers FC, as of 2023, with major shareholder Dave King recently advocating for £50m of new investment to help the club remain competitive.
