New York Giants Explore Sale of Minority Stake in Franchise
The New York Giants are considering a sale of up to 10% of the franchise, which is currently valued at $7.3 billion. The Mara and Tisch families will retain control over the team despite the minority stake sale.
The New York Giants are considering selling up to a 10% stake in the team, as reported by Sports Business Journal.
In a statement released on Thursday, the Giants announced that "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. There will be no further comment in regard to the process," according to The Athletic.
The Mara and Tisch families each hold a 50% ownership of the franchise. Tim Mara, grandfather of current owner John Mara, founded the team in 1925 for $500. Bob Tisch, father of current owner Steve Tisch, acquired half of the franchise from the Mara family in 1991 for approximately $75 million.
Forbes recently valued the Giants at $7.3 billion, making them the fourth most valuable franchise in the NFL. The only teams valued higher are the Dallas Cowboys ($10.1 billion), Los Angeles Rams ($7.6 billion), and New England Patriots ($7.3 billion).
A potential sale would not significantly alter the team's control, as the Mara and Tisch families would remain the majority owners. The motives for the possible sale have not been disclosed.
If the Giants were to sell 10% based on Forbes' valuation, they could generate around $700 million from the deal. Despite having the worst record in the NFL over the last eight seasons, the Giants' location in a large market and their historical success are expected to attract considerable interest.
