Koch Family To Buy 10% Stake In New York Giants At Record $10bn Valuation

The New York Giants person agreed to waste a number liking to Julia Koch and her family successful a woody that values nan storied NFL franchise astatine much than $10bn, nan highest valuation ever for a sports team.

According to aggregate reports, nan Kochs will salary much than $1bn for a 10% liking successful nan team. The transaction is expected to beryllium presented to nan league’s different owners for support erstwhile they meet successful October.

The woody will reshape but not upend nan Giants’ century-old ownership structure. The Mara family, who founded nan nine successful 1925, and nan Tisch family, who bought successful during 1991, will each spot their holdings reduced from 50% to 45%. John Mara remains nan team’s president and main executive.

The Giants had announced successful February that they had retained nan finance slope Moelis & Co to research nan waste of a non-controlling portion of nan franchise. That process has now produced nan astir lucrative number liking waste successful convention history. It comes only months aft a mostly liking successful nan Los Angeles Lakers was sold astatine a $10bn valuation, until now nan grounds for immoderate sports organization.

Julia Koch, left, and David Koch successful 2014. Photograph: Andrew Toth/FilmMagic

For nan Kochs, nan woody represents a further move into New York’s master sports landscape. Last twelvemonth Julia Koch and her 3 children purchased a 15% liking successful BSE Global – nan genitor institution of nan Brooklyn Nets, WNBA’s New York Liberty and Barclays Center – successful a woody that weighted nan group astatine $6bn.

Koch, nan widow of industrialist and governmental philanthropist David Koch, is nan richest female successful New York City, pinch a luck estimated astatine betwixt $74bn and $81bn depending connected nan source. Forbes and Bloomberg some spot her among nan 20 wealthiest group successful nan world.

The Giants, four-time Super Bowl winners and 1 of nan NFL’s astir storied franchises, are now weighted by Sportico astatine $10.25bn, ranking them arsenic nan third-most valuable squad successful nan league. By comparison, nan San Francisco 49ers earlier this twelvemonth sold a 6.2% liking astatine an $8.6bn valuation.

Representatives for some nan Koch family and nan Giants declined to remark connected nan agreement, which will only go last if ratified by nan NFL’s ownership committee. If approved, it will cement a caller landmark successful nan ongoing surge of franchise valuations crossed American sport.