The deal, which still requires approval from the NFL’s finance committee, continues a trend of record-setting valuations for US football franchises. Recent sales include a 10% stake in the New York Giants to Julia Koch at a $10.3bn valuation, a 3.2% stake in the San Francisco 49ers at $8.6bn, and a 2.35% stake in the Chicago Bears at $8.9bn.

Kraft purchased the Patriots in 1994 for $172m. Since then, the team has won six Super Bowls, all under his ownership, and owns Gillette Stadium, which underwent a $250m renovation in 2023. Last season, the Patriots reported $118m in ticket revenues, ranking 11th in the league.