Eli Manning Declines to Acquire Stake in the Giants
Former New York Giants quarterback Eli Manning has decided not to acquire an ownership stake in the team, arguing that the investment is too expensive. In February, the Giants announced the sale of a limited stake in the team, possibly up to 10%, in a process that could set a record in the valuation of an NFL franchise. According to the latest Forbes valuation, the Giants are worth $7.3 billion, while CNBC estimates it at $7.85 billion.Manning, who won two Super Bowls with the Giants and whose number 10 was retired by the team, expressed his affection for the franchise and acknowledged its high regard. Manning’s decision was also influenced by potential conflicts with his current projects, including his role as a sports commentator. Manning explained that the team’s ownership would generate “many conflicts” with his current job, which forced him to withdraw from the agreement. The Mara and Tisch families each own 50% of the Giants. John Mara and Steve Tisch have been at the helm of the organization on behalf of their families since the passing of their fathers in 2005. Bob Tisch, Steve’s father, bought 50% of the Giants for approximately $75 million in 1991. Tim Mara, John’s grandfather, founded the team in 1925 for $500.“Basically, it’s too expensive for me. These figures are very large. A 1% stake in something valued at 10 billion dollars… becomes a very high figure.”
Eli Manning
