The giants seek to sell up to 10% of the team, according to sources, a process likely to set a new brand in high water for an assessment of the NFL team. The centennial club, one of the most precious sports teams in the world, hired Moelis & Co. as a banker.
The team will not sell a majority or CEDE control, which rested with the current president John Mara or his family since his grandfather, Tim Mara, founded the team in 1925, said sources . Since 1991, Tisch and Mara families each have 50% of the club, with a large list of individual family members with small participations. Their precise reason to explore an LP sale is not known, but the NFL has enabled the investment capital companies to buy up to 10% of the teams under a new policy approved last August. The team initially refused to comment, but confirmed the news in a statement after the publication of this report. Moelis & Co. refused to comment.
The GIANTS sales process could lead to a fascinating data point for the NFL Club stock market. In December, the Bowl champion now Super-Super Eagles sold 8% percent to two rich families in transactions evaluating the club at $ 8.1 billion and $ 8.3 billion, respectively. Experts believe that the evaluation of the giants will beat these figures according to the size of the New York market (approximately 19.5 million in New York against 6.2 million in Philadelphia).
Recent public estimates of the value of the giants vary from $ 7.3 billion (Forbes) to $ 7.85 billion (CNBC). Before the Eagles LP sale in December, the Eagles varied from $ 6.6 billion (Forbes) to $ 7 billion (CNBC). Sporto’s estimates for both teams were in the middle.
But the experts differ in the number higher than the number of Eagles that the giants could recover. The giants share their market with the jets, and although the assessment of the giants reflects its generational brand as a club old 100 years with a generally successful history in the largest city in the country, they were one of the worst NFL teams for more than a decade and the enthusiasm of fans has crushed. In addition, an investment capital company is likely to be more cautious about the price than rich families who bought the Eagles.
In December, the NFL had approved three EP companies to carry out agreements to acquire LP participations in a team: Arctos Partners, Ares Management and Sixth Street. Invoices with Arctos and dolphins with ARES have become The first two transactions concluded under this policy in December.