The New York Giants announced their exploration of selling a minority stake in the franchise, engaging Moelis & Company for this process. Recent NFL regulations allow for private equity investment in teams, with several franchises already taking action. Notably, Eli Manning has expressed interest in ownership, although he has not had discussions with the current ownership.
On Thursday evening, the New York Giants ownership confirmed their intention to explore the potential sale of a minority, non-controlling stake in the franchise. This statement, which validates a prior report from the Sports Business Journal, noted that the Mara and Tisch families have engaged Moelis & Company to oversee the process, indicating that no further comments would be provided at this time.
Recent changes in NFL regulations now permit private equity firms to purchase limited stakes in franchises. Various teams, including the Buffalo Bills, Miami Dolphins, and Philadelphia Eagles, have already utilized these new guidelines. Notably, the Eagles recently divested an 8 percent interest in their team to two family investment groups.
One individual to monitor during this process is two-time Super Bowl champion quarterback Eli Manning, who has publicly expressed interest in owning a stake in an NFL franchise, particularly his former team. While attending a charity function, Manning mentioned that he has yet to discuss this opportunity with the Mara or Tisch families.
“I do not know if there is any reality to it,” Manning remarked, humorously acknowledging the substantial investment required. “Would it be fun and interesting? Yes, but we will see how it all plays out.” As the Giants approach the milestone of their 100th season in 2024, they concluded their last season with a disappointing record of 3-14.
In summary, the New York Giants are exploring a potential minority stake sale amidst recent NFL rule changes allowing private equity investment. Eli Manning’s interest in ownership may signal a notable development, although no direct discussions with the current ownership have occurred. As the Giants prepare for their centennial season, their strategic decisions will undoubtedly draw attention in the competitive landscape of the NFL.
Original Source: www.nytimes.com
Leave a Reply