The sale of the minority ownership stake in the Cincinnati Bengals that had been held by the estate of former shareholder Austin E. "Dutch" Knowlton was completed Friday. The estate of Mr. Knowlton had previously reached terms to sell its shares to investors in New York, but through a right to match such terms, ownership of the Cincinnati Bengals will remain with the existing ownership group. This transaction solidifies the local ownership of the Cincinnati Bengals, with the Brown family continuing to hold the controlling interest.
The Bengals have been locally owned since the Club's inception in the mid-1960s and, as a result, have enjoyed long-term stability. The Club's football operations will not be affected by the transaction and no further or carry-on transactions are contemplated.
"We are proud to be the owners of the NFL's Cincinnati franchise," said Bengals President Mike Brown, speaking on behalf of the Brown family. "We are committed to steps that will continue the Bengals as an asset for Greater Cincinnati."