Philadelphia Eagles owner Jeffrey Lurie can now sell ownership stake of the team to private equity funds following a change in NFL rules, writes John George for the Philadelphia Business Journal.

On Tuesday, NFL owners approved a move allowing select private equity funds to hold minority ownership in the league’s 32 teams. The change allows funds to have between three percent and ten percent ownership stakes in the teams.

To be able to acquire ownership stakes, private equity funds need to have at least $2 billion in committed capital. No single fund can own a stake in more than six teams.

The Eagles are among the teams that have strong possibilities to be among the first franchises to enter private equity deals, considering that Lurie was pursuing the sale of a minority stake in the team earlier this summer.

Lurie was working with investment bank BDT & MSD Partners in June to solicit interest from potential buyers. The team would be valued at over $7.5 billion in any potential transaction. While the size of the stake remained confidential, it would not change Lurie’s majority control in the team.

Read more about Jeffrey Lurie and the NFL rule change regarding the Eagles ownership stake in the Philadelphia Business Journal.