The San Francisco 49ers reached a deal to sell stakes in the NFL team at a valuation of about $8.5 billion, breaking the record for a sports franchise set in December.
The club is offloading equity totaling about 6% to three private investors, according to two people familiar with the transaction — each of them are major figures in the world of Silicon Valley venture capital. Billionaire Vinod Khosla is buying the largest stake with the families of Byron Deeter, a partner at Bessemer Venture Partners, and Will Griffith, founding partner at Iconiq Growth, also acquiring pieces.