A major piece of the Atlanta Falcons could be changing hands, and the price tag says plenty about where NFL franchise values are headed.
CNBC reported Thursday that Arctos has agreed to buy a 10% stake in the Falcons at an enterprise valuation of $10.6 billion, citing two people familiar with the matter. The deal would reportedly be completed over the next 18 months in two tranches. It still needs NFL approval, with owners expected to vote in October.
Falcons owner Arthur Blank currently controls just under 73% of the team, though it’s not clear whether the full 10% stake would come from his share or also include limited partners. If the league signs off, Atlanta would become Arctos’ fourth NFL investment, joining the Los Angeles Chargers, Buffalo Bills and Cleveland Browns.
The reported valuation is another big jump for the franchise. CNBC had the Falcons at $8 billion in September 2025, which placed them 11th among NFL teams. Blank, the Home Depot co-founder, bought the Falcons for $545 million in 2002.
The larger backdrop is the league-wide surge in team prices. NFL valuations have kept climbing since the Seattle Seahawks agreed to a record $9.61 billion sale.
For the Falcons, the reported sale lands in the middle of a stretch of real change. Atlanta missed the playoffs for the eighth straight season in 2025 and responded by reshaping its football leadership.
Former Falcons quarterback Matt Ryan was hired in January as president of football, a new role for the organization. The team then brought in Ian Cunningham as general manager and Kevin Stefanski as head coach.
“Despite average performance on the field the last several years, our business has been really strong,” Falcons CEO Greg Beadles told CNBC in July. “We had our best business year that we’ve had last year, as a matter of fact.”
The Falcons have not confirmed the reported transaction, and The Athletic’s Josh Kendall pointed to the league’s approval process. “The Falcons haven't confirmed this (and probably wouldn't for a while considering these moves have to go to a full ownership vote before being final) but some executive level Atlanta news,” Kendall wrote Thursday on X, formerly known as Twitter.
Atlanta is also getting ready for its second preseason game after a 27-7 loss to the Denver Broncos last Friday. The Falcons play the Indianapolis Colts on Saturday at 1 p.m. ET as Stefanski continues preparing for his first regular season in Atlanta.
And there’s another long-term business boost on the horizon: Mercedes-Benz Stadium is scheduled to host the Super Bowl in 2028.
In Other News...
Falcons Depth Chart Sends A Clear Message About Key Roster Battles
The Falcons second unofficial depth chart ahead of their joint practice and preseason game against the Colts offered another snapshot of where the roster stands in August. Cooper Rush is now listed as the starter at quarterback over Jack Strand, while Jawaan Taylor is back in the starting lineup and ZaDarius Smith has been added as a fifth-string edge rusher after coming out of retirement. It is the kind of preseason update that does not settle anything, but it does show how Atlanta is sorting through the back end of the roster and the top of a few position battles.
For a team still in evaluation mode, these listings matter because they hint at how the Falcons are viewing competition heading into a key week of work. Joint practices usually tell a little more than depth charts do, but the chart still gives a clear read on who is getting the first look and who is sliding into a more complicated fight for playing time. The Colts matchup will offer the next layer of clues, especially for players trying to turn a temporary listing into something more permanent. [Read more 🡒]
Falcons Suddenly Have A Week 1 QB Question They Didn't Want
Tua Tagovailoas joint practice against the Colts added another layer to Atlantas quarterback conversation, and not in the way the Falcons were hoping. He finished 8 of 13 with little downfield success and a pick-six, the kind of uneven outing that stands out even in an August setting. It comes at a time when the team is still trying to get a clearer read on its quarterback picture before the season opens.
Michael Penix Jr. remains out while recovering from ACL surgery, and he has not taken part in 11-on-11 work. For now, Tagovailoa is still the expected Week 1 starter unless Penix gets back on the field, shows he is ready and makes a stronger case. Until then, Atlanta is left balancing projection, health and performance with the opener approaching. [Read more 🡒]
Falcons Camp Is Clarifying One Roster Battle Faster Than Expected
Tyler Goodson has been one of the more encouraging developments of Falcons training camp, and the momentum carried right into the joint practices against the Indianapolis Colts. The running back made a strong case with his explosiveness and by leading the team in carries during the work against Indy, giving Atlanta a clearer look at a backfield picture that had still carried some uncertainty as camp opened.
Elsewhere on the practice fields, the Falcons are still sorting through a few other roster questions, including the swing tackle battle and the progress of quarterback Tua Tagovailoa. Jack Strands workload has also been limited, with the rookie spending time only in individual drills while Cooper Rush handled the second-team snaps, a setup that keeps the depth chart conversation very much alive as camp continues. [Read more 🡒]