Jeffrey Lurie exploring sale of minority stake in Philadelphia Eagles, report says
PHILADELPHIA (CBS) -- Jeffrey Lurie, the owner of the Philadelphia Eagles, is exploring a sale of a minority stake in the team, according to a report from Bloomberg on Thursday.
Lurie, 72, has owned the team since May 1994 when he bought the Eagles from Norman Braman for a reported $185 million, which was a record for a sports team at the time, according to Bloomberg. The team is now worth $7.5 billion and Lurie has a net worth of $5.4 billion, Bloomberg reported.
Lurie is working with BDT & MSD Partners, an American merchant bank with headquarters in Chicago and New York City, to solicit interest from potential suitors for a stake in the team.
According to Bloomberg, the size of the minority stake hasn't been determined, but interested parties were told there "will be no path to a controlling stake." Bloomberg reported talks are in an "early stage" and it's possible no deal will be reached.
Recently, Lurie has had his son, Julian Lurie, more involved in the football operations side of the Eagles. The younger Lurie currently holds the title of business and football operations strategy with the team and will likely be his father's successor.
Since Lurie bought the team in 1994, the Eagles have been one of the most successful teams in the NFL. They've been to three Super Bowls, including winning the first in franchise history in 2018 over the New England Patriots, and have been to the playoffs 17 times.
During that time, the Eagles have a 269-211-3 record with Lurie leading the franchise.
An Eagles spokesperson declined to comment on the Bloomberg report.