A new record has been established for the valuation of a National Football League (NFL) franchise, with the American football body reportedly approving the sale of 10% of the New York Giants to billionaire Julia Koch and her family.
Although the value of the transaction was not disclosed, CNBC reported it as being $10.3 billion (A$15.8 billion), citing people close to the deal who were not authorised to speak publicly.
This would surpass the $8.9 billion valuation of the Chicago Bears implied by the sale of a 2.35% stake in September and the $6.05 billion that a group paid to buy the Washington Commanders in 2023.
Giants CEO John Mara said it was clear that Koch, the widow of industrialist David Koch, and her family understood the importance of this franchise to the Mara and Tisch families and their relationship with fans and community.
"Our discussions were productive, and we are pleased to have them as a part of the New York Giants," Mara was quoted in an Associated Press article as saying.
The Giants are controlled by the Mara family, who have been shareholders since the team was founded in 1925, and the Tisch families.
NFL Commissioner Roger Goodell confirmed the deal after it was approved at a meeting of NFL team owners.
"My family and I are honored to join the Giants organisation, a storied franchise with deep roots in New York," Koch said.
"We look forward to supporting the Mara and Tisch families to advance the team's continued success and appreciate the partnership with two great families."
Koch, whose net worth has been estimated by Forbes at $81.2 billion, and her family last year bought 15% of the company that owns the National Basketball Association’s Brooklyn Nets and the Women’s National Basketball Association’s New York Liberty.
CNBC reported on this article that NFL owners also approved the purchase:
by Dean Metropoulos and private equity firm Sixth Street Partners of 8% of the New England Patriots in a deal that values the team at $9-$9.5 billion, and
by Fortress Investment Group Executive Chairman Pete Briger of 3.2% of the San Francisco 49ers (valuing the team at $8.6 billion.
