Eli Manning and Michael Strahan, two of the most cherished former Giants, are exploring options to join an investment group aiming to acquire up to 10% of the team’s ownership.
As reported by Sportico, Strahan is collaborating with billionaire Marc Lasry on this bid. Earlier this year, current Giants owners John Mara and Steve Tisch sought assistance from Moelis & Co., a global investment bank, to initiate the sale of minority stakes in the franchise.
In August, the NFL approved the sale of minority shares up to 10%, paving the way for such transactions. Regarding Manning, who is 44, there was a brief discussion about possibly joining Strahan’s venture, but he ultimately chose to step back, citing potential conflicts with other business commitments.
Last week, Bloomberg mentioned Manning was forming an investment group for the same purpose. Since retiring at the end of the 2019 season after 16 years as quarterback, Manning has been involved with the franchise, serving as a public relations ambassador and hosting “The Eli Manning Show” on giants.com.
Other teams, like the Bills and Dolphins, have already engaged with private equity firms concerning minority ownership sales. The Eagles sold around 8% of their franchise to private investors, while Tom Brady recently acquired approximately 10% of the Raiders.
Sportico values the Giants at approximately $7.655 billion, positioning them third in the NFL and eighth among global sports franchises. The Mara family established the team in 1925 for $500, while the Tisch family acquired a 50% stake in 1991 for $75 million.
Strahan, who had a 15-season career with the Giants, is known as the franchise’s all-time sack leader and ranks sixth in NFL history with 141.5 sacks. His playing career earned him around $76.4 million, according to Spotrac, and he has transitioned successfully into television as a host and analyst.
By the time he retired, Manning was the highest-paid player in NFL history, having recorded $252 million in earnings. He’s currently ranked ninth on that list. “It’s definitely interesting,” Manning remarked during an interview with CNBC Sports. “There’s probably only one team I’m interested in pursuing. It’s the team I played for 16 years, and it’s local, which makes the most sense.”
