He may have a famous name and a built-in fan base, but two-time Super Bowl winner Eli Manning says an ownership stake in his former team, the New York Giants, is “too expensive for me.”
The current owners, the Mara and Tisch families, hired a banker in February to reportedly explore finding two or three wealthy individuals or families, as opposed to private equity, to buy a non-controlling stake in the team.
Manning’s name had been bandied about with the likes of his former teammate and Pro Football Hall of Famer Michael Strahan, who reportedly teamed up with billionaire Marc Lasry to explore purchasing a piece of the up to 10 percent of the Giants that is up for sale.
“Basically, it’s too expensive for me,” Manning told CNBC Sport. “These numbers are getting very big. … A 1 percent stake of something valued at $10 billion – you know, it turns into a very big number.”
The Giants’ most recent valuations include a $7.3 billion price tag from Forbes and a $7.85 billion estimate from CNBC.
“I love the Giants, and I think it is deserving of that valuation,” Manning continued. “There will be people that want to go for it, and I was kind of along for the ride.”
Manning had reportedly discussed joining the Strahan-Lasry group but in May cited conflicts with his other business holdings, something he reiterated Wednesday, per CNBC Sport.
“It really was a matter of some complications with the fact that I’m doing broadcasting; I wouldn’t be able to talk to the players. I coached in the Pro Bowl. I do a high school football camp where college guys come,” Manning said. “There was going to 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.”
The No. 1 overall pick in 2004, Manning played 16 seasons in the NFL with the New York Giants. He played 236 regular-season games (234 starts) with the Giants, who acquired the Ole Miss product in a draft-day trade with the the Chargers for No. 4 pick Philip Rivers, and threw for 57,023 yards and 366 touchdowns.
He was passed over in Pro Football Hall of Fame voting in his first time on the ballot.
“But still, obviously I’m here and have access and still very involved in the Giants organization,” Manning said.
Manning is a minority owner of Gotham FC of the NWSL.
–Field Level Media
