Robert Kraft and has family have owned 100 percent of the New England Patriots since purchasing the team in 1994.

That's about to change, it appears.

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The private equity firm Sixth Street has a deal in place to acquire 3 percent of the Patriots from the Kraft family, Ben Fischer of the Sports Business Journal reports .

Per Fischer, the deal is part of Kraft's plan to divest 8 percent of the Patriots franchise, which is currently valued at $9.25 million, per CNBC . The buyer of the other 5 percent is currently unknown, Fischer reports, but both deals are expected to be approval at the next meeting of NFL owners on Oct. 21-22.

Sixth Street will be the first private equity firm to hold a minority ownership stake

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