The Krafts are set to divest 8% of the Patriots at a valuation of more than $9 billion, as first reported by Ben Fischer of Sports Business Journal. The ownership stake will be divided by two parties: 5% will be owned by billionaire Dean Metropoulos, with 3% going to San Francisco-based investment firm Sixth Street.

New England Patriots longtime owner Robert Kraft is awaiting approval from NFL owners after making a major decision.