The billionaire cofounder of Home Depot has capitalized on the increase in value of sports teams and the success of the new stadium he operates.
Sources say Atlanta Falcons owner Arthur Blank sold a 10% stake in some assets owned by the Blank Family of Businesses—including the National Football League’s Atlanta Falcons, Major League Soccer’s Atlanta United, and some real estate and operating rights to Mercedes-Benz Stadium—for about $300 million, placing a $3 billion valuation on the assets.
Limited partner stakes typically sell for steep discounts to controlling stakes because limited partners have no say in how the teams are run. The Atlanta Constitution reported Monday that the $300 million was just for the Falcons.
Forbes recently pegged the value of the Falcons at $2.6 billion, 13th among the league’s 32 teams, and the value of Atlanta United at $330 million, first in the league.
The most recent sale of a controlling interest in an NFL team involved the Carolina Panthers, purchased for $2.275 billion by David Tepper last July. Meanwhile, expansion prices for MLS teams have been rising dramatically (see table below).
I had the pleasure of interviewing Blank a few years ago for our TV show, Forbes SportsMoney. Catch our conversation in this video.
