Market expert cheers NFL's 'democratization' of ownership

STORY: The NFL's announcement, which came on Tuesday, said private equity firms can buy up to a 10% stake in a team.

Firms initially approved by the NFL include Ares Management, Arctos Partners and Sixth Street.

Orczyk Sissel called this "one of the coolest areas" of alternative investing, with great interest coming from "the types of clients that we deal with on the retail side and their advisors because of the passion and connection that people have to sports."

Until now, the NFL was the only major North American sports league that prohibited private equity ownership in a franchise.

The NBA, NHL, Major League Baseball and Major League Soccer allow their teams to sell a maximum of 30% of equity to a fund.