With the NFL now allowing private-equity investment in franchises, several teams are looking to convert part of their ownership into cash.
The New York Giants are the latest team to consider selling a stake in the franchise.
Confirming a report by Ben Fischer of Sports Business Journal, the Giants released a statement Thursday night:
“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 Fischer, the Giants are open to selling up to 10 percent of the team. While various media valuations place the franchise’s worth around $7.5 billion, actual sale prices often exceed book value.
For comparison, the Philadelphia Eagles sold an eight percent stake last year in separate transactions that valued the team at $8.1 billion and $8.3 billion. The Giants are expected to command an even higher valuation.
However, minority stakes typically sell at a discount since they don’t come with decision-making power over the franchise.
The Giants were founded in 1925 by Tim Mara. In 1991, ownership was split evenly between John Mara, Tim’s grandson, and Steve Tisch. Within that 50/50 structure, multiple family members hold smaller shares of the team.
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