Giants explore sale of minority interest in franchise
100-year-old franchise reportedly looks to sell up to 10 percent of the team.
admin
With the NFL embracing private-equity investment in its franchises, plenty of teams will be looking to turn a chunk of the operation into cash.
The Giants are the latest to explore the possibility of selling off a piece of the team.
Confirming a report from Ben Fischer of Sports Business Journal, the Giants issued a statement on Thursday night regarding the effort.
“The Mara and Tisch families have retained Moelis & Company to explore the potential sale of a minority, non-controlling stake in the New York Giants," the team said. "There will be no further comment in regard to the process.”
Fischer reports that the Giants are interested in selling up to 10 percent of the team. Valuations performed by multiple media outlets put the team in the neighborhood of $7.5 billion. But those numbers are usually off, since book value often differs from the price someone will pay.
Last year, the Eagles sold eight percent of. the team in a pair of deals valuing the team at $8.1 billion and $8.3 billion. The Giants likely will get a higher number.
It's still less than the worth of the full franchise, since portions without controlling interest tend to have a lower price than a sale that would entail the ability to run the team.
Tim Mara founded the team in 1925. In 1991, the equity was split between John Mara, Tim's grandson, and Steve Tisch. Within that 50/50 share, multiple family members on both sides own small pieces.
