The former quarter of the New York Giants, Eli Manning, is no longer interested in buying a minority participation in its former team, telling CNBC Sport on Wednesday that it had been assessed.
“Basically, it’s too expensive for me,” Manning at CNBC Sport told an interview. “A participation of 1% of a value of $ 10 billion turns into a very large number.”
Manning’s comments come while the NFL team assessments are skyrocketing. In the official assessments of the CNBC NFL team published in September, the Giants were valued at $ 7.85 billion, ranking fourth among the 32 League teams.
In December, the Eagles of Philadelphia sold a minority participation in the team in an evaluation of $ 8.3 billion – approximately 1 billion dollars more than the place where CNBC Sport had evaluated the team a few months earlier. In May, the 49ers of San Francisco sold a 6.2% participation in an evaluation of more than $ 8.5 billion, according to people familiar with the issue. The September evaluation of CNBC marked the 49ers at $ 7.4 billion.
And last month, the Los Angeles Lakers of the NBA agreed to sell the majority of the team to an evaluation of $ 10 billion, much higher than the evaluation of $ 7 billion in the franchise according to official evaluations of the NBA team of CNBC Sport in February.
Eli Manning n ° 10 of the New York Giants warms before the match against the Eagles of Philadelphia at the Metlife Stadium on December 29, 2019 in East Rutherford, New Jersey.
Sarah Stier | Getty images
Manning said that he had no interest in buying a participation in another NFL team and that he thought the giants deserve an evaluation of $ 10 billion. He also said that other complications had contributed to his decision to withdraw his name.
“I would not be able to talk to the players I have trained in the Pro Bowl. It was going to affect my day work,” said Manning, adding that there could have been conflicts of interest with his role on ESPN Manningcast, the alternative broadcast of Monday evening football that he co-anima with his brother, the former quarter of the NFL Peyton Manning.
Manning has achieved more than $ 250 million in career profits from the Giants and several million more by mentions. He has a production company – ten to productions – and is a partner of the investment company Brand Velocity Group.
The sale of minorities continues
The Mara family, which has owned the giants since the team’s foundation in 1925, currently has 50% of the team. The Tisch family has had the other half since 1991.
The two families hired Moelis & Company to explore a potential sale of “a minority and non-controlling participation,” they said in February.
There has been a renewed interest in the ownership of the NFL in recent months. Last year, the League voted to allow capital-investment companies to take up to the up to 10% in teams.
CNBC reported in May that investor Julia Koch had submitted an offer for a minority participation in the Giants. Former New York Giants Defender Michael Strahan and billionaire Marc Lasry also joined forces to make an offer, Sportico reported in May.
Manning always plans to be very involved in the Giants organization. He told CNBC Sport that he had already spoken to the team, focusing on recruit advice earlier this year.
He also owns a minority in the National Women’s Soccer League Gotham FC and the TGL New York Golf team.