Investment firm Arctos is buying up to 10% of the Falcons. At the new valuation, that piece is worth around $1.06 billion, nearly twice what Blank paid for the entire team 24 years ago.
Blank, the Jewish co-founder of Home Depot, remains the controlling owner of the Falcons. He owns just under 73% of the team, while Arctos is buying a minority piece and will not control how the franchise is run.
The purchase would give Arctos ownership in four NFL teams. It already owns pieces of the Buffalo Bills, Cleveland Browns and Los Angeles Chargers.
The Falcons purchase still needs approval from NFL owners. If approved, the new $10.6 billion valuation means the team Blank bought for $545 million is now valued at nearly 20 times what he originally paid.