Eagles owner makes massive payday after selling 8% of $8,300,000,000 team

Philadelphia Eagles owner Jeffrey Lurie is selling a stake in the team after getting approval from the NFL. This doesn't mean the Eagles are changing owners but welcoming new ones to the board.

Dave Zangaro of NBC Sports Philadelphia reports that Lurie is selling interest in the team to two investment groups and getting a big payday with this decision. Zangaro says that the sale was based on a valuation of $8.3 billion and the Eagles owner will remain in control of the team.

Former ESPN reporter Andrew Brandt noted that Lurie initially bought the team for $185 million and made three times that by selling only eight percent of the franchise value. He acquired the franchise in May 1994 when he purchased it from Norman Braman. The Eagles have since become an entertainer in the NFL and have played in multiple Super Bowls, capturing the LII edition.

Lurie is a businessman and motion picture producer who first tried to buy the New England Patriots for $150 million, but the deal was nixed by his uncle Richard Smith due to their financial situation. Five months later, Lurie acquired the Eagles for the equivalent of $401 million in 2023.

That move has paid off for both Lurie and his team, one of the NFL's best and most popular teams in recent years.

The Philadelphia Eagles are having a terrific 2024 NFL season

Philadelphia Eagles players in action during an NFL game. (Credits: IMAGN)

Jeffrey Lurie has reasons to celebrate after this deal was approved by the rest of NFL owners, but he should also be happy to see his team play at a high level every week. The Philadelphia Eagles boast an 11-2 record to sit at the top of the NFC East and rank second in the NFC standing, right behind the 12-1 Detroit Lions.

After a terrible end of the 2023 NFL season with a humbling defeat against the Tampa Bay Buccaneers in the wild-card round of the playoffs, Philly entered this season with more doubts than certainties.

The addition of Saquon Barkley has proven a terrific move for Nick Sirianni's team. Despite having an MVP candidate leading the charge, the situation with the wide receivers isn't the best.

After the team's Week 14 win over the Carolina Panthers, AJ Brown criticized the Eagles's passing game, naming it the team's biggest issue. Sirianni, Kellen Moore, and Jalen Hurts will need to work together before their good season turns sour.