The NFL continues to position itself for foreign fans. It also may eventually be looking for foreign owners.

Dade Hayes of Deadline.com, via Sports Business Journal, recently explained that former Commander president Jason Wright sees the ball moving toward international cash.

Speaking at the Gabelli Funds’ annual Media & Sports Symposium in New York, Wright said that based on his “experience in NFL circles suggests the league is close to opening itself up to foreign investment.”

“I think you will see the smaller, scrappier leagues start to bring in sovereign investment more directly first, because the need is there,” Wright said. “A slower mover like the NFL doesn’t have to until it has to, and so they’ll be a later mover, but you’ll see it sort of come up the funnel in terms of maturity and size and scale of the leagues.”

Wright nevertheless sees it as inevitable that the NFL will look to international sources to “expand[] the money pool.”

He thinks it could start with partnership deals “with companies and brands that we know foreign governments are behind and supporting.” Whether it’s naming-rights deals or “marquee partnerships” at the team or league level, “that’s the way you test the waters on this.”

“Without speaking outside of school, those discussions have been happening in the background,” Wright said. “You’ll start to see partnerships like that emerge on the sponsorship side, and that’ll be the first indicator.”

It’s no surprise. The NFL, like any other business, always wants more. Last year, the door opened for private-equity investments. Eventually, foreign interests will be embraced — in some capacity. Then, there will be foreign ownership of teams.

If/when the NFL puts one (or four) teams in Europe, it makes perfect sense for the owners to come from the nations that host the franchise. For the same reason that British soccer fans often bristle at American interlopers who become team owners, the locals may be more likely to take to a new NFL team if one of their own is in charge.

Then there’s the ever-present possibility that the Saudi Public Investment Fund will turn its attention to football. With the stroke of an oil-enriched pen, the PIF could start a competing pro football league in the U.S. The moment the NFL thinks that’s coming is the instant the NFL should find a way to give the PIF a piece of the pie.

It wouldn’t have to be full or partial ownership of any specific team. The league could, for instance, create a de facto 33rd franchise where the Saudis acquire a 1/32nd share of every team by paying to the existing owners an amount that would simulate an expansion fee — at a significant premium.

Like, perhaps, $20 billion. Which, if divided by 32 teams and exchanged for a 1/32nd share, would mean $625 million to each team and a valuation of each franchise at $20 billion.