David Rosenthal

He comes in as the principal owner of the new ownership group of the Washington football franchise, along with 20 other limited partners.

Because, oh yeah, that's the other problem here.

You also need this person to have enough friends who are willing to throw in that can cough up another three to four...

billion in cash here because like yes there's the 1.5 billion in debt but that still means you need four and a half billion in cash so it's kind of a miracle that this all happens it started impacting the game too it's like because this is all during the off season that this is going down what's going to happen to the commanders are they going to continue operations it's crazy uncertainty is not good for the league no definitely not they forecast revenue 15 years in advance yes

So once all the dust settles, the owners are like, all right, we can never have this happen again.

We know we need to change something here.

So the next offseason in summer of 2024, they vote to allow private equity into the NFL.

Basically, all the other major sports leagues around the world had already done this, and the NFL was the last holdout.

And again, you can understand why.

Like, having these strong principal owners that can all get in a room and negotiate, think long-term, have a huge part of their family's net worth be the team...

Yeah, it all makes sense.

So this is where the NFL proves once again that they truly are N of 1.

So they meet with a bunch of private equity firms, talk amongst the ownership group, hammer out a new set of ownership regulations for NFL teams.

And here are the four major rules that they drop.

Number one.

The NFL will approve a set list of private equity firms, large private equity firms, who have the opportunity, the option, the ability to invest in league franchises.

That list is vetted by the NFL, subject to change, and if you are not on that list, you are not allowed in.

And that set of firms right now is only four.

Four very large private equity firms that have the anointed ability to invest in NFL teams.

Number two, those private equity firms are now allowed to own up to 10% of the equity in NFL franchises, but no more than 10% under any circumstances.