The Koch family has agreed to purchase a 10% stake of the NFL’s New York Giants, according to a person familiar with the deal.
The person spoke to The Associated Press on condition of anonymity Wednesday night because the deal must be approved by owners. That could come as soon as their next meeting in October.
The Mara and Tisch families announced in February they were exploring the possibility of selling a minority, noncontrolling stake in the team. They hired Moelis & Co. at the time to serve as their banker.
Julia Koch, the widow of David Koch, who died in 2019, has a net worth of $81.2 billion, according to Forbes. She and her family last year bought 15% of BSE Global, the company that owns the NBA’s Brooklyn Nets and WNBA’s New York Liberty.
Bloomberg was first to report the Giants deal at a valuation of $10 billion, which would surpass the then-North American professional record $6.05 billion Josh Harris’ group paid to buy the Washington Commanders from former owner Dan Snyder in 2023.
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A spokesperson for Koch had no comment when reached by email Thursday night.
The Mara family has owned the storied football franchise since its founding in 1925. John Mara is president and CEO, and his family and the Tisch family will continue to serve as majority owners.
There were many potential and reported suitors for a stake in the Giants dating back to February, including former quarterback and two-time Super Bowl champion, Eli Manning. “Basically, it’s too expensive for me,” Manning said of purchasing a stake in the Giants in an interview with CNBC Sport back in July. “These numbers are getting very big … a 1% stake in something valued at $10 billion, it turns into a very big number.”
The Associated Press contributed to this report.
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