Eli Manning, the retired New York Giants quarterback, has decided. He won’t move ahead with gaining a share of the team because he feels the price is too steep. Forbes currently values the Giants at about $7.3 billion. Cryptoslate’s calculation of their market capitalization would put their valuation at $8.16 billion, while CNBC puts it at $7.85 billion. Manning’s comments underscore just how deep the financial hole is becoming for owners — even in a franchise as lucrative as the NFL’s Cowboys.
New York’s Mara and Tisch families have owned the Giants since its inception. Each family now collectively owns 50% of the cooperative. Mara and Tisch have controlled the team since their fathers’ deaths in 2005. The franchise has profound historical significance, with original owner Tim Mara establishing the Giants in 1925 for just $500. By comparison, Bob Tisch bought his 50% share for $75 million in 1991.
In recent discussions surrounding the team’s future, particularly regarding quarterback Russell Wilson, experts have weighed in on whether he will succeed with the Giants this season. Our “First Take” crew has offered great insight into Wilson’s possible fit inside the organization. Confusion continues to cloud Kevin Clark’s interpretation of the Giants’ plan for Wilson. Unfortunately, all we have now is a short video clip to understand what he’s sharing.
Manning was candid about the current market conditions for purchasing a stake of the NFL’s ownership, saying, “In short, it’s just too dang much.” He further elaborated on the stakes involved by noting, “These numbers are getting very big. … A 1% stake of something valued at $10 billion — it turns into a very big number.”
Manning considered the possibility of stepping into a ownership stake. He decided to reject it so as not to risk any conflicts with his ongoing commitments. “There would be a lot of conflicts and it was going to affect my day job, so I kind of had to pull out of the Giants deal,” he stated.
Steve Tisch, a former broadcaster with ESPN, is coaching in the Pro Bowl a Steve Tisch. He paints a stark picture of the challenges that come with these ownership roles. When offered a potential stake, he chose to do the opposite. Both these selections represent a realistic recognition of the limits on his time and mission.
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