Final week, the New York Giants introduced they might discover a sale of a minority stake within the crew.
Since then, rumors have unfold about potential suitors and former gamers who may need a piece of the pie. The most recent duo to specific curiosity within the crew is Floyd Mayweather and actual property mogul Meyer Orbach.
From TMZ Sports activities:
Floyd Mayweather desires to personal the NY Giants … and we’re advised the 50-0 boxing legend is main a gaggle gunning to purchase a ten% stake within the 4x Tremendous Bowl-winning franchise!
TMZ Sports activities has discovered that 47-year-old Mayweather and his enterprise associate, outstanding actual property magnate, Meyer Orbach, are placing collectively a proposal. There’ll probably be one other rich investor added to the crew, per what we’re being advised from our sources.
We’re advised the provide shall be within the neighborhood of $700 million … and the plan is to submit the proposal quickly. We’re advised TBE has already moved $200 million into an escrow account.
“My companions and I are at all times taking a look at completely different alternatives, together with possession of sports activities groups. I can’t remark additional than that,” Orbach advised TMZ.
Orbach already owns a minority stake within the Minnesota Timberwolves and Floyd Mayweather has had his fingers in numerous companies for years. They need to buy a ten p.c stake within the Giants and plan to supply $700 million, however that probably received’t be sufficient.
No formal valuation of the Giants has been achieved, so it’s exhausting to find out what quantity equals 10 p.c of the group, however a $700 million provide means this specific view values the crew at $7 billion.
In a handful of valuations achieved within the final yr, the Giants are estimated to be price anyplace from $6.8 to $7.65 billion.
There’ll probably be much more suitors lining as much as place a proposal for a minority stake within the Giants, however and not using a formal valuation, the cash they might want to buy that stake stays muddy. However it’s probably that greater than $700 million shall be wanted.
