The Philadelphia Eagles now have the highest known valuation for any sports franchise in the United States at $8.3 billion, writes Andrew Beaton for The Wall Street Journal.

This increased value comes after Eagles owner Jeffrey Lurie sold 8 percent of the franchise to two buyers.

The sales come against the backdrop of big-name firms clamoring to get a piece of the NFL’s business, which has become increasingly lucrative.

Earlier this year, the NFL voted to allow private-equity investments in its franchises, which has served as a clear acknowledgment of how sports ownership has changed. Additionally, teams’ valuations continue rising to levels that would once have been mind-boggling.

In 2018, the Carolina Panthers sold for $2.2 billion, and then in 2022, the Denver Nuggets sold for $4.7 billion. Just about a year later, private-equity titan Josh Harris completed a $6 billion purchase of the Washington Commanders.

The Eagles’ new record-setting $8.3 billion valuation comes amid another season in which they are one of the top teams in the league, currently sitting at 12-2.

The increased valuations indicate the NFL’s increasing popularity, and also means a smaller group of people who can afford to buy a team.

Read more about the Eagles’ and NFL’s record-setting team valuations in The Wall Street Journal.

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