Commissioner Goodell reveals that the NFL is considering allowing private equity ownership of up to 10%.

• Commissioner Goodell revealed to CNBC in an exclusive interview on Thursday that the NFL is considering allowing private equity ownership of up to 10%.
• The NFL has previously prohibited private-equity minority ownership, but increasing team valuations have prompted the league to reevaluate its policies.
• Up to 30% private-equity ownership is permitted in the NBA, NHL, MLB, and MLS.

Commissioner Goodell announced that the National Football League is considering allowing up to 10% minority private equity ownership for its 32 teams.

"Goodell stated in an interview with CNBC's Julia Boorstin at Allen & Co.'s annual Sun Valley Conference that as sports evolve, it is important to ensure that our policies reflect those changes. He revealed that there has been significant interest from private equity firms and believes that this could be a viable option for the NFL in a limited capacity, no more than 10% of a team. This, he believes, could complement the NFL's ownership structure and support its ownership policies."

Goodell stated that the NFL aims to establish its new ownership policies by the year's end, with a 10% cap serving as a starting point, and the league being receptive to increasing it in the future.

The NFL is the only major U.S. sports league that does not allow private equity ownership of up to 30%, preferring limited partners to be individuals or families.

WATCH: NFL Commissioner Roger Goodell discusses ownership policies, international expansion

The value of NFL franchises has increased due to lucrative media deals, making it harder for people to afford team ownership. In 2023, a group led by Josh Harris, co-founder of Apollo Global Management, paid $6.05 billion for the Washington Commanders, the most ever spent on a U.S. professional sports franchise.

It is challenging for anyone to write a $5 billion equity check, except for the wealthiest 50 individuals in the world, according to Harris' statement during the CNBC "Squawk Box" co-anchor Andrew Ross Sorkin at the CNBC CEO Council Summit in Washington, D.C. last month.

Harris enlisted the help of 20 individuals, including Magic Johnson, Eric Schmidt, and David Blitzer, to raise funds for his political campaign.

"Never before had that amount of capital been raised, as Harris stated."

Unlike other U.S. professional sports leagues, the National Women's Soccer League permits private equity firms to hold a majority stake in franchise teams. This difference in ownership structure could lead to private-equity firms prioritizing their investment targets and exit thresholds, potentially influencing the motivations for ownership in ways that may be uncomfortable for larger sports leagues.

The NFL may find comfort in minority stakes not giving decision-making power, but it has reduced the number of individuals interested in smaller stakes in teams.

"Ted Leonsis, the owner of the Washington Capitals, Wizards, and Mystics, stated to ESPN in May that these individuals are wealthy and successful, accustomed to being the center of attention. Now, he requires a quarter of a billion dollars, and in return, they receive nothing. He added that they have no control or role, and are merely passive investors who will have their names mentioned on a website or something."

Private-equity firms, with the objective of generating profits from their assets under management, may be more suited to minority ownership.