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In the NFL, the rich truly keep getting richer.
Philadelphia Eagles owner Jeffrey Lurie is in line for an estimated $664 million windfall after the NFL approved a ruling that allows owners to sell shares of the team to limited partners, with Lurie and the Eagles selling 8 percent of the team, according to ESPN’s Adam Schefter.
“Jeffrey Lurie and the Philadelphia Eagles received NFL approval for the sale of an 8% interest of the team to two family investors, per league source,” Schefter wrote on his official X account on December 11. “The sale was based on a valuation of the team up to $8.3 billion and Lurie maintains complete control of the team.”
The Eagles weren’t the only team to jump on the new ruling right out of the gate. Miami Dolphins owner Stephen Ross announced he was selling a “limited interest” in the team to Ares Management and Buffalo Bills owners Terry and Kim Pegula announced they were bringing in a group of 10 “limited partners” that includes former NBA All-Stars Vince Carter and Tracy McGrady.
While the Eagles are one of the NFL’s most valuable franchises, they’ve also been one of the best in the last decade. Philadelphia won the first Super Bowl title in franchise history following the 2017 season, returned to the Super Bowl following the 2022 season and are currently 11-2 and on a 9-game winning streak.
Lurie’s Family Fortune Started at the Movies
Lurie is the heir to a family fortune that began when his grandfather, Philip Smith, founded the General Cinema movie theater chain in 1935, which became one of the largest drive-in movie theater chains in the country and at one point operated over 1,500 screens across the U.S.
Lurie actually failed in two previous attempts to buy NFL franchises when Robert Kraft beat him to buy the New England Patriots, and Stan Kroenke beat him out to buy Los Angeles Rams before finally spending $185 million to buy the Eagles in 1994.
Along with being one of the NFL’s best owners, Lurie is also one of the great documentary film producers of all time. He’s won three Academy Awards for documentaries since 2011, including “Summer of Soul” for Best Documentary Feature in 2022 — the movie Chris Rock was presenting the award for when Philadelphia native Will Smith walked on stage and slapped him.
Not Afraid to Spend Big Money on Lineup
One of the reasons Lurie is so well respected in NFL ownership and player circles is his willingness to spend big on his team.
We don’t need to look any further than the Eagles’ current offensive lineup to see examples. Philadelphia made quarterback Jalen Hurts the highest paid player in NFL history when they signed him to a 5-year, $255 million contract extension in March 2023.
The Eagles also paid $161 million for a pair of wide receivers in A.J. Brown (3 years, $96 million) and DeVonta Smith (3 years, $75 million).
The best money Lurie has spent in recent years might end up being a deal that put a nail in the coffin of an NFC East rival — signing running back Saquon Barkley away from the New York Giants on a 3-year, $37.75 million contract in March 2024.
Barkley responded by setting the Eagles’ single-season record with 1,623 rushing yards and 11 touchdowns through 13 games.
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Eagles Owner Poised for $664 Million Windfall After NFL Rule Change