Interview·2024
New England Patriots President Jonathan Kraft Expects NFL ROI to Beat Stocks (Sportico, 2024)
About this source
Single-subject interview in which Jonathan Kraft lays out his investment framework: PE minority stakes in NFL franchises, an ROI-beats-stocks thesis, the flip from illiquid to liquid LP stakes, and the depreciation "Uncle Sam becomes your partner" tax logic of control ownership. Densest single-subject framework content in his own words; article/text slot.
Frameworks extracted
2 totalFINongoing
Uncle Sam Becomes Your Partner (the Depreciation Logic of Control Ownership)
Control ownership of a franchise lets the tax code co-fund the purchase — a structural after-tax edge a passive minority stake can't fully capture.
FINongoing
Pro Sports as a Risk-Adjusted Long-Hold (the PE Liquidity Flip)
Major-league franchises aren't trophies — they're a long-duration asset that beats stocks risk-adjusted, and private equity is now manufacturing the liquidity that was always missing.