The New York Giants According to Sports Business Journal, are looking for an interest of 10% of the team.
The Giants released a statement on the report on Thursday.
“The Mara and Tisch families have retained Moelis & Company to explore the potential sale of a minority, non-controlling interest in the giants in New York. There will be no further comments regarding the process,” said the statement, according to The Statement Athletic.
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President and CEO John Mara is on the sidelines before a match against the Indianapolis Colts at Metlife Stadium December 29, 2024. (Imagn)
The Mara and Tisch families each have 50% of the franchise.
Tim Mara, current owner John Mara’s grandfather, founded the franchise in 1925 for $ 500.
Bob Tisch, father of the current owner Steve Tisch, bought half of the Mara family team in 1991 for around $ 75 million.
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New York Giants helmets on the sidelines during a match against the Pittsburgh Steelers during the Acrisure Stadium. (Charles Leclaire/Imagn images)
The most recent appreciation of Forbes Giants came to $ 7.3 billion, making it the fourth most valuable franchise in the NFL.
Only the 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 the Giants because the Mara and Tisch families would still control the franchise.
The reason for the sale of the team is unknown, according to the report.
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Co-owner of New York Giants John Mara looks at warm-ups for a match against the New Orleans Saints at Metlife Stadium. (Brad Penner/Imagn Images)
If the Giants were to receive about 10% of their last Forbes evaluation, they would end up with around $ 700 million of the sale.
The Giants have the worst record in the NFL in the past eight seasons, but because they play in such a large market and have been successful in the past, there should be a lot of interest.
The Giants went 3-14 in 2024 and have the number 3 pick in the NFL Draft.
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