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.

For the first time in his 30-plus years of owning the Patriots, Robert Kraft is selling minority shares of the franchise.