this New York Giant Having agreed to sell the minority stake to Julia Koch and his family, the deal values the legendary NFL franchise for more than $10 billion, the highest valuation ever seen by the sports team.
According to multiple reports, Kochs will pay more than $1 billion for the team’s 10% interest. The deal is expected to be approved to other owners of the league when it meets in October.
The deal will reshape, but will not overturn the Giant’s century-old ownership structure. The Mara family founded the club in 1925, and the Tisch family, which purchased in 1991, would see their stake drop from 50% to 45%. John Mara remains the president and CEO of the team.
The Giants announced in February that they retained investment bank Moelis & Co to explore the sale of the franchise’s non-controlled film. The process has now produced the most profitable minority sale in the history of the alliance. Months after most of the Los Angeles Lakers’ equity Sold at a valuation of $1 billionup to now, any sports organization’s record.
For Kochs, the deal represents a further step forward in the professional sports field in New York. Last year, Julia Koch and her three children bought a 15% stake in BSE Global, the parent company of the WNBA’s New York Liberty and the Barclays Center, worth $6 billion.
Koch, the Industrialist and political donor David Kochis the wealthiest woman in New York City, estimated to be between $74 billion and $8.1 billion, depending on the source. Both Forbes and Bloomberg placed her among the 20 richest people in the world.
The Giants, four-time Super Bowl title and one of the NFL’s most famous franchises, are now valued by Sportico as $10.25 billion, ranking them as the third-highest valuable team in the league. By comparison, the San Francisco 49ers sold a 6.2% stake at a $8.6 billion valuation earlier this year.
Representatives of the Koch family and Giants declined to comment on the agreement, which will only become final if approved by the NFL’s ownership committee. If approved, it will consolidate new landmarks in the ongoing franchise valuation in US sports.
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