Koch Family Buy 10% participation in New York Giants in a record assessment of $ 10 billion | New York Giants
The New York giants agreed to sell a minority participation in Julia Koch and her family in an agreement that values the NFL franchise at more than $ 10 billion, the highest evaluation ever made for a sports team.
According to several reports, the Kochs will pay more than $ 1 billion for an interest of 10% in the team. The transaction should be presented to the other owners of the League for approval when meeting in October.
The re -wrote agreement but will not overthrow the centennial property structure of the giants. The Mara family, which founded the club in 1925, and the Tisch family, which bought in 1991, will each see their participations reduced from 50% to 45%. John Mara remains the President and the CEO of the team.
The Giants had announced in February that they had kept the investment bank Moelis & Co to explore the sale of a franchise tranche without control. This process has now produced the sale of the most lucrative minority stake in the history of the league. This only comes from months after a majority participation in the Los Angeles Lakers has been sold to an evaluation of $ 10 billion, so far the record of any sports organization.
For Kochs, the agreement represents a new decision in the professional sports landscape of New York. Last year, Julia Koch and her three children bought a 15% stake in BSE Global – The Brooklyn Nets Mother Company, the New York Liberty and the WNBA Barclays – in an agreement that appreciated the group at $ 6 billion.
Koch, the widow of the industrialist and political donor David Koch, is the richest woman in New York, with an estimated fortune between $ 74 billion and 81 billion dollars according to the source. Forbes and Bloomberg place her among the 20 richest people in the world.
The Giants, the four times winners of the Super Bowl and one of the most legendary NFL franchises, are now evaluated by Sportico at $ 10.25 billion, ranking them as the third most precious team in the League. In comparison, the 49ers of San Francisco earlier this year sold a 6.2% participation in an evaluation of $ 8.6 billion.
Representatives of the Koch and Giant family refused to comment on the agreement, which will only become final if it is ratified by the NFL property committee. If it is approved, it will cement a new benchmark in the current thrust of the franchise evaluations through American sport.
