New Delhi, Oct. 23 -- Two NFL franchises have brought in fresh minority investors after league owners signed off on stake sales involving the Atlanta Falcons and the Miami Dolphins during their fall meeting in New York this week. The moves marked another step in the league's gradual opening of team ownership to large private equity funds.

Atlanta Falcons announced on October 20 that owners had approved Arctos, an investment firm now owned by KKR, as a limited partner. The approved transaction covers a 7.5 percent stake and takes effect immediately. The club added that Arctos has also agreed to buy another 2.5 percent later, a step that will require a separate vote of league owners.

According to Sports Business Journal, the deal reported...