Arctos has struck a deal for a 10% stake in the Atlanta Falcons at a $10.6bn valuation. If cleared, the Falcons would become Arctos’ fourth NFL team, adding to interests in the Los Angeles Chargers, Buffalo Bills, and Cleveland Browns, making Arctos the most active private equity investor in the league.

The transaction is structured in two steps: an initial 7.5% tranche at just over $10bn, followed by the remaining slice in 18 months at an enterprise value of around $11bn. Falcons owner Arthur Blank, who bought the team in 2002 for $545m, currently controls just under 73% of the franchise.

This deal follows the NFL's 2024 decision to allow pre-approved firms to buy stakes of up to 10% in teams. While the Falcons have missed the playoffs for eight straight seasons, the business has thrived, with estimated revenue reaching around $800m last season. The club's financial strength is bolstered by annual sponsorships and the Mercedes-Benz Stadium, which is set to host the 2028 Super Bowl.