It was less than three months ago that Eli Manning reportedly expressed interest in purchasing a stake in the New York Giants.
But with team valuations in sports continuing to skyrocket, it doesn’t appear that the 2-time Super Bowl champion will be buying a piece of his former team anytime soon.
According to CNBC’s Alex Sherman, Manning is no longer evaluating making such a bid. And like all things in such situations, his decision was a matter of dollars and sense.
“Basically, it’s too expensive for me,” Manning told CNBC Sport. “A 1% stake valued at $10 billion turns into a very big number.”
One hundred million, to be exact, which is inarguably a hefty price for such a small stake in a team. While Bloomberg had previously priced the Giants at $8 billion when the team’s current ownership began exploring the sale of minority ownership stakes this past spring, Manning’s comments indicate that number could be even higher.
And it seems like a safe bet that it probably is.
After all, it was just a few weeks ago that the Los Angeles Lakers sold at a reported $10 billion valuation. Considering that the Giants — despite their post-Manning struggles — are still one of the NFL’s marquee franchises, it’s not a stretch to think that the team would be valued at a similar price tag.
While the Washington Commanders sold for $6.05 billion in 2023, recent minority ownership transactions have valued the Philadelphia Eagles and San Francisco 49ers in the $8 billion range. Those sales, however, came before the Lakers deal, which only figures to help bolster the seller’s market, especially when it comes to high-profile franchises.
Still, it says a lot that a quarterback who made more than $252 million in NFL contracts alone feels as if he’s been priced out of purchasing even a one percent stake in the franchise he won two Super Bowls with. For what it’s worth, Manning appears to be content with his decision, noting that joining an ownership group likely would have meant the ManningCast co-host facing the same media restrictions that his former rival and Las Vegas Raiders part-owner, Tom Brady, currently faces.
“I wouldn’t be able to talk to players that I coached in the Pro Bowl,” Manning told Sherman. “It was going to affect my day job.”
About Ben Axelrod
Ben Axelrod is a veteran of the sports media landscape, having most recently worked for NBC's Cleveland affiliate, WKYC. Prior to his time in Cleveland, he covered Ohio State football and the Big Ten for outlets including Cox Media Group, Bleacher Report, Scout and Rivals.