Report: Giants want to sell a small portion of the team

The Sports Business Journal stated on Thursday that the New York Giants are listing a small portion of the team for sale, and that the transaction is probably going to set a record for an NFL franchise worth.

Because of its history and the New York City market, the Giants are considered one of the most valuable sports teams in the world. According to the source, they have appointed Moelis & Co. as their banker.

The Mara family will continue to hold the majority of the team’s shares and control. Tim Mara, the team’s founder in 1925, is the grandfather of current president John Mara.

The date of the limited partner exploration is unclear, but it coincides with the NFL’s August approval of a rule allowing private equity groups to own up to 10% of clubs.

Sports Business Journal was not contacted by Moelis & Co. or the Giants organization for comment.

According to Forbes, the Giants are worth $7.3 billion, while CNBC valued them at $7.85 billion.

The Philadelphia Eagles, the recent Super Bowl champions, were valued between $6.6 billion (Forbes) and $7 billion (CNBC). After that, in December, the Eagles sold a total of 8% of the team to two families in two different deals, with the prices of the sales being $8.1 billion and $8.3 billion, respectively.

Eighty-five percent of the team is still owned by Jeffrey Lurie of Philadelphia.

The Eagles are now the best club in the NFL, while the Giants have been among the worst in recent years.

The NFL approved three private equity groups in December to enter into agreements to purchase limited partnerships in franchises. A ten percent interest in the Miami Dolphins and associated assets was acquired by Ares Management, while Arctos Partners acquired ten percent of the Buffalo Bills.

Prior to the transaction, the Dolphins were valued at $8.1 billion, while the Bills were appraised at $5.35 billion by CNBC.