New England Patriots owner Robert Kraft is always looking for new business ventures to get into and it looks like he might have found his next project. According to soccerex.com who is citing Spanish media reports, Kraft is closing in on a deal to buy part of the Spanish club Sevilla.
According to reports, Kraft and an American investment group will be purchasing 40 percent of the team.
“Apparently in the last few months there have been “exorbitant offers” to buy small packages of shares of the club, with offers climbing above US$1,750 for a share whose nominal value a year ago was US$70.”
What Kraft and the investment group is going to pay is unclear, but it is expected to bring in a large dollar amount for the final sale.
Sevilla is one of the best clubs in Spain outside of the two established giants, Real Madrid and Barcelona. They've won the UEFA Europa League — European club football's second-biggest tournament behind the Champions League — a record three-straight times from 2014-2016, and five times overall.
This isn't Kraft's first involvement in soccer. In 2005 he was linked to helping purchase a stake in Liverpool and he also currently owns the New England Revolution, who share a stadium with the Patriots.
Kraft was able to build the Patriots into one of the most valuable sports franchises in the world. In 1994 Kraft bought the Patriots for $175 million. Today the Patriots are worth $3.7 billion which is the fifth most valuable franchise in the world according to Forbes.
The Patriots will be reporting to training camp soon as they try to avenge last year's Super Bowl loss to the Eagles and lift the Lombardi Trophy again.
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