Robert Kraft’s days of owning 100% of the New England Patriots reportedly are nearing an end.

The Patriots owner plans to divest 8% of the franchise in a two-part deal with separate private equity firms, according to a Thursday report from Sports Business Journal’s Ben Fischer . In the arrangement, which is subject to approval by NFL owners at their next meeting on Oct. 21-22, Sixth Street Partners would purchase 3% with Dean Metropoulos, principal of the Metropoulos & Co. investment firm, buying 8%.

The Patriots currently are valued at a little over $9 billion, per Fischer, who added it’s “highly unlikely” that owners strike down the deals next month. Kraft purchased the Patriots for $172 million in 1994 and has owned 100% of the franchise ever since.

The deals were made possible in

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