Eli won't buy ownership stake in Giants: 'Too expensive for me'
Eli Manning won't go ahead with his plans of buying an ownership stake in the New York Giants.
"Basically, it's too expensive for me," Manning told CNBC Sport. "These numbers are getting very big."
In April, reports emerged that Manning was assembling an investment group to pursue a stake of up to 10% in the Giants, a franchise he led to two Super Bowl titles during his 16-season career.
The Giants made a limited stake available as they explored the potential sale of up to 10% of the team. The Mara and Tisch families each own 50% of the club.
It's unclear how much Manning would have to pay to become a minority owner of the franchise, but Forbes calculated the Giants' value at $7.3 billion in August 2024. The retired quarterback suggested that the price is significantly higher.
"A 1% stake of something valued at $10 billion, it turns into a very big number," Manning added.
The former Super Bowl MVP also explained that purchasing a stake in the Giants would've caused conflicts of interest for him.
"I love the Giants, and I think it is deserving of that valuation. There will be people that want to go for it, and I was kind of along for the ride," Manning said. "But it really was a matter of some complications with the fact that I'm doing broadcasting. I wouldn't be able to talk to the players. I coach in the Pro Bowl. I do a high school football camp where college guys come. There would be a lot of conflicts, and it was going to affect my day job, so I kind of had to pull out of the Giants deal."
In May, the San Francisco 49ers sold 6.2% of the team at a $8.5 billion valuation, a record for an NFL team in a sale.