As NFL franchises continue to increase in value, Robert Kraft is cashing in.

The owner has sold 8% of the New England Patriots , with Sixth Street purchasing 3% and and Dean Metropoulos buying 5%, according to Sports Business Journal. Sixth Street is a global investment firm, while Metropoulos is a billionaire with the Metropoulus & Co. investment firm. The franchise was valued at “a little over $9 billion” in the sales, according to SBJ.

“The twin deals are subject to approval by NFL owners at their regular meeting Oct. 21-22, but it would be highly unlikely for owners to reject a deal that’s made it this far in league vetting,” Ben Fischer writes. “If the deal closes, it would be the second highest valuation for an NFL team behind the New York Giants, which will also seek final

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