The New York Giants are putting a limited participation in the team in the market, they said Thursday night, and the process is likely to establish a record for an assessment of the NFL franchise.
Giants are investigating the possibility of selling up to 10% of the team.
Mara and Tisch families are each of which have 50% of the giants. John Mara and Steve Tisch have been in control of the organization on behalf of their families since the death of their parents in 2005.
The giants, considered one of the most valuable sports teams in the world due to their history and market of New York City, have hired Moelis & Co. as their banker.
“Mara and Tisch families have retained Moelis & Company to explore the potential sale of a minority and non -controlling participation in New York giants,” the team said in a statement. “There will be no more comments regarding the process.”
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.
Although the reason for exploring a limited partner is not known, the moment occurs after the NFL approved a policy in August that allows private capital companies to buy up to 10% of the equipment.
The most recent valuation of Forbes giants reached $ 7.3 billion, while CNBC set it at $ 7.85 billion.
For a recent comparison, the newly coined Super Bowl champion, Philadelphia Eagles, varied in value of $ 6.6 billion (Forbes) to $ 7 billion (CNBC). In December, the Eagles sold 8% combined to two families in separate transactions that valued the franchise at $ 8.1 billion and $ 8.3 billion, respectively. The owner of Philadelphia, Jeffrey Lurie, still controls 85% of the team in terms of sales.
The Eagles are now at the top of the world of professional football, while giants have been among the worst NFL teams in recent seasons.
Three private capital companies received the approval of the NFL in December to make agreements to acquire associations limited in equipment. Arctos Partners bought 10% of Buffalo’s tickets, and Ares Management bought a 10% participation in the Miami Dolphins and related assets.
The invoices were valued by CNBC at $ 5.35 billion before the sale, and the dolphins were valued at $ 8.1 billion.
Jordan Raanan and Media de ESPN contributed to this report.
