Eli Manning, synonymous with the New York Giants for nearly two decades, was a natural figure of interest when it was revealed that the team was exploring the sale of a 10% ownership stake. However, despite a lucrative career and life after football, Eli has decided this opportunity isn’t for him.
In an interview with CNBC Sport, Eli candidly mentioned, “It’s essentially too expensive for me.” This is coming from a guy who knows a good investment when he sees one, yet acknowledges that in today’s booming sports team valuations, even a modest percentage can equate to a hefty price tag. With the Giants’ valuation soaring to $10 billion, a mere one-percent stake translates into a seriously big number.
There’s also the matter of his current gig. Eli pointed out that becoming a part-owner would interfere with his beloved role on ESPN’s “ManningCast,” which he co-hosts with brother Peyton. Juggling ownership responsibilities and his TV duties wasn’t something Eli wanted to tackle right now.
Let’s not forget, Eli isn’t exactly strapped for cash. Over his 16-year stretch with the Giants, he pulled in more than $250 million in earnings, not to mention the substantial sums from endorsements as a two-time Super Bowl MVP. But, in this current climate, where team valuations are racing towards the $10 billion mark and beyond, securing a stake is slipping out of reach for many potential investors.
Team ownership dynamics have seen quite the shift lately. For context, the Buss family recently parted with the Los Angeles Lakers, selling to TWG Global CEO Mark Walter for a jaw-dropping $10 billion. Meanwhile, the Philadelphia Eagles, a rival in the Giants’ NFC East division, shook things up by offloading a minority stake valued at $8.3 billion.
The Giants themselves are steeped in a rich history, with the Mara family having controlled the reins since 1925. Currently, they maintain a 50% ownership of the team, sharing the helm with the Tisch Family since the early ’90s. It’s a legacy that’s seen numerous changes, but for now, Eli Manning will remain a legendary player rather than an owner in the storied franchise’s next chapter.
