Patriots reportedly selling 8 percent stake in team valued at an astounding $9 billion

The New England Patriots are reportedly selling an eight-percent stake in the team to Sixth Street, a global investment firm, and billionaire Dean Metropoulos, according to Sportico. That stake is reportedly valued at over $9 billion.

Sixth Street is expected to buy three percent of the team, with Metropoulos funding five percent, per Sportico. The Kraft family will still own the remaining 90 percent of the team.

Minority ownership deals have become more common place in the NFL in recent months. In early September, the New York Giants told a 10 percent minority share of the franchise to the Koch family for a reported $10 billion, an astounding price. 

In May, the San Francisco 49ers reportedly sold small minority shares to three different Bay Area families. Those shares were reportedly valued at more than $8.5 billion.

This story will be updated.