The Giants are looking to sell up to 10 percent of the team, sources say, a process likely to set a new high-water mark for an NFL team valuation. The century-old club, one of the most valuable sports teams in the world, has hired Moelis & Co. as its banker.<\/p>\n
The team will not sell a majority stake or cede control, which has rested with current President John Mara or his family since his grandfather, Tim Mara, founded the team in 1925, sources said. Since 1991, the Tisch and Mara families have each owned 50% of the club, with a large roster of individual family members holding small stakes. Their precise reason for exploring an LP sale is not known, but the NFL allowed private equity firms to buy up to 10% of teams under a new policy approved last August. The team initially declined to comment, but confirmed the news in a statement after this report was published. Moelis & Co. declined comment. <\/p>\n
The Giants\u2019 sales process could result in a fascinating data point for the NFL club equity market. In December, the now-Super Bowl champion Eagles sold 8% percent to two wealthy families in deals valuing the club at $8.1 billion and $8.3 billion, respectively. Experts believe the Giants\u2019 valuation will beat those numbers based on the size of the New York City market alone (roughly 19.5 million in NYC versus 6.2 million in Philadelphia). <\/p>\n
Recent public estimates of the Giants\u2019 value range from $7.3 billion (Forbes) to $7.85 billion (CNBC). Prior to the Eagles\u2019 LP sale in December, the Eagles ranged from $6.6 billion (Forbes) to $7 billion (CNBC). Sportico\u2019s estimates for both teams were in the middle. <\/p>\n
But experts differ on how much higher than the Eagles\u2019 number the Giants could fetch. The Giants share their market with the Jets, and while the Giants\u2019 valuation reflects its generational brand as a 100-year-old club with a generally successful history in the country\u2019s largest city, they\u2019ve been one of the worst teams in the NFL for over a decade and fan enthusiasm has cratered. Also, a private equity firm is likely to be more cautious on price than the wealthy families who bought into the Eagles.<\/p>\n
As of December, the NFL had approved three PE firms to execute deals to acquire LP stakes in teams: Arctos Partners, Ares Management and Sixth Street<\/a>. The Bills with Arctos and the Dolphins with Ares became the first two completed deals under that policy in December<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"The Giants are looking to sell up to 10 percent of the team, sources say, a process likely…\n","protected":false},"author":2,"featured_media":211323,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2067],"tags":[3157,7,519,12202,1917,56,2321,2469,6],"class_list":{"0":"post-211322","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york-giants","8":"tag-deals","9":"tag-football","10":"tag-giants","11":"tag-legal","12":"tag-new-york","13":"tag-new-york-giants","14":"tag-newyork","15":"tag-newyorkgiants","16":"tag-nfl"},"share_on_mastodon":{"url":"https:\/\/channels.im\/@nfl\/114862381663454873","error":""},"_links":{"self":[{"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/posts\/211322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/comments?post=211322"}],"version-history":[{"count":0,"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/posts\/211322\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/media\/211323"}],"wp:attachment":[{"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/media?parent=211322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/categories?post=211322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/tags?post=211322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}