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Report: Chargers in talks to sell stake in team to private equity firm Arctos
Private equity firm Arctos Partners bought a stake in the Bills last year.
Private equity firm Arctos Partners bought a stake in the Bills last year. It could own minority interest of the Chargers soon.
Randall Williams of Bloomberg reports the Chargers and Arctos are in talks.
The Chargers have talked to the other three of the league's approved private equity groups, according to Williams, with negotiations with Arctos the most advanced.
The NFL changed its investment rules in August, allowing private equity to own as much as 10 percent of a team. Arctos purchased a 10 percent stake in the Bills in December, and Dolphins owner Stephen Ross sold a 10 percent stake of the Dolphins, Hard Rock Stadium, the Miami Grand Prix and the Miami Open tennis tournament to Ares Management.
Arctos, which is Dallas based, was founded in 2019 and is headed by managing partners Ian Charles and David O’Connor. It is the first private equity firm to gain approval to invest in all five major North American leagues, and it owns stakes in more than 20 sports franchises.
