Former New York Giants star Michael Strahan and billionaire Marc Lasry have teamed up to pursue an investment in the NFL team, according to multiple people familiar with the talks.

Roughly 10% of the Giants is up for sale, and Strahan and Lasry are working together to purchase a piece of that, said the people, who were granted anonymity because the details are private. The Giants’ current owners, the Mara and Tisch families, are looking to spread that stake around to two or three wealthy individuals and families—as opposed to private equity.

Eli Manning, a former teammate of Strahan’s, held preliminary conversations to join the group, one of the people said. The two-time Super Bowl champ decided not to due to conflicts with his other business holdings, according to the source. 

Representatives for the Giants and Lasry declined to comment. Representatives for Manning, Strahan and Moelis & Co., which was retained to assist with the sale process, didn’t immediately respond to requests for comment.

The Giants announced in February that owners had hired Moelis to explore the sale of a minority non-controlling stake. While private equity funds can now buy into NFL franchises, the Giants are focused primarily on individuals and family offices. At least two teams—the Buffalo Bills and Miami Dolphins—have closed deals recently with PE firms. The Philadelphia Eagles, by contrast, just sold about 8% of the franchise to a pair of family investors.

The Giants are worth $7.65 billion, according to Sportico’s NFL valuations, which ranks third in the NFL and eighth among global sports teams. While minority stakes in the NFL tend to sell at a discount to the control price, that’s not always the case. The Eagles, for reference, are valued at $6.75 billion by Sportico, but the 8% stake just sold at a reported $8.3 billion valuation.

The Maras founded the Giants in 1925 for $500, and the Tisch family joined the ownership group in 1991, buying half the team. The Giants jointly own the $1.6 billion MetLife Stadium with the New York Jets, but they are worth more than their neighbors because of more robust sponsorship and ticket income.

Lasry, co-founder of sports fund Avenue Capital, sold his stake in the Milwaukee Bucks in 2023 and raised nearly $450 million to launch Avenue Sports. His more recent sports investments include a franchise in TGL and women’s basketball startup Unrivaled. He’s looked at a number of franchise stakes as well, including the NWSL’s Angel City and North Carolina Courage. The Courage talks fell apart late last year due to complications surrounding the league’s rules around private equity ownership.

Avenue Capital has more than $11 billion under management, and Lasry is worth $1.9 billion, according to Forbes. Lasry’s son, Alex, is the CEO of the New York/New Jersey host committee for the 2026 World Cup, which is hosting games (including the Cup final) at MetLife Stadium.

Strahan played his entire 15-year career with the Giants, retiring after the 2007 season. He had 141 ½ sacks, sixth-most in NFL history, including a league record 22 ½ in 2001. Strahan, who was inducted into the Pro Football Hall of Fame in 2014, has built a post-playing career in media. He is an analyst with Fox NFL Sunday, and he is a frequent host of Good Morning America on ABC. He earned $76.4 million in his playing career, per Spotrac, a number that does not count his post-NFL income.