Pro Football Rumors
The Giants are among the NFL teams looking into the sale of a minority ownership stake. Eli Manning showed early interest in a bid, but he has since backed out of that endeavor.
During an interview with CNBC Sport (video link), the two-time Super Bowl winner said he is no longer pursuing an ownership stake. Costs were cited as a key reason, to no surprise. Manning also noted the potential conflict of interest concerns which would have been raised had he joined the Giants’ ownership group while remaining a broadcaster with ESPN (among his other post-playing pursuits).
“Basically, it’s too expensive for me,” Manning said. “These numbers are getting very big… A one percent stake of something valued at $10 billion — it turns into a very big number.”
Forbes valued the Giants at $7.3 billion last August, but recent ownership sales have demonstrated the upward movement in the market since then. The Eagles were valued at over $8 billion when they moved forward with the sale of a non-controlling stake, and figures on that front – even as it pertains to shares no larger than 10% in many cases – are set to continue rising in years to come.
The approval of Tom Brady‘s Raiders ownership stake came at a cost tied to a deflated franchise valuation (along with similar conflict of interest concerns, of course). While his bid was ultimately approved following a lengthy review process by the league’s controlling owners, Manning will not wind up in the same situation with the Giants.
