New York Giants seeks to sell up to a 10% share of the team, according to the Sports Business Journal.
Giants released a statement of the report on Thursday.
“The Mara and Tisch families have retained Moelis & Company to explore the potential sale of a minority, non-controlling share in New York Giants. There will be no further comment in the process,” states in accordance with the states according to the Athletic.
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President and CEO John Mara stands on the sidelines before a game against Indianapolis Colts at Metlife Stadium December 29, 2024. (IMagn)
The families Mara and Tisch each own 50% of the franchise.
Tim Mara, current owner John Mara’s grandfather, established the franchise in 1925 for $ 500.
Bob Tisch, father of current owner Steve Tisch, bought half the team from the Mara family in 1991 for about $ 75 million.
At least 2 people,
New York Giants helmets on the sidelines during a game against Pittsburgh Steelers under the Acrisure Stadium. (Charles Leclaire/Imag images)
Forbes’ latest valuation of Giants came at $ 7.3 billion, making it the fourth most valuable franchise in the NFL.
Only Dallas Cowboys ($ 10.1 billion), Los Angeles Rams ($ 7.6 billion) and New England Patriots ($ 7.3 billion) had higher values.
The sale of the team would not change much for Giants because the families Mara and Tisch would still control the franchise.
The reason for the sale of the team is unknown according to the report.
New York Giants co -owner John Mara sees warm -ups before a game against New Orleans Saints at Metlife Stadium. (Brad Penner/Imag images)
If Giants received approx. 10% of their last Forbes evaluation, they would end up with about $ 700 million from the sale.
Giants have the worst record in the NFL in the last eight seasons, but because they play in such a large market and have been successful in the past, there should be plenty of interest.
Giants went 3-14 in 2024 and have no. 3 elections in the NFL draft.
