In a significant move for the New York Giants, NFL owners have approved a 10% sale of the franchise to the Koch family. This decision was finalized during the league’s annual fall owners meeting, where NFL Commissioner Roger Goodell confirmed the acquisition. The Koch family now holds a minority, non-controlling interest in the team, expected to support the organization’s growth and community initiatives.
Ownership Structure Remains Unchanged
The Giants continue to be owned by the Mara and Tisch families. John Mara serves as the president and CEO, while Steve Tisch is the executive vice president and board chairman. The organization stated that its leadership structure will not change despite the new investment.
Background on Julia Koch
- Julia Koch is the widow of billionaire David Koch, who passed away in 2019.
- According to Forbes, her net worth is approximately $81.2 billion.
- Last year, the Koch family acquired a 15% interest in BSE Global, the parent company of the NBA’s Brooklyn Nets and the WNBA’s New York Liberty.
Details of the Giants Sale
The New York Giants initially announced in February that they had enlisted Moelis & Co. to assist with selling a portion of the team. An agreement was reached in early September but required the approval of NFL owners.
Bloomberg reported that the valuation of the Giants is estimated at $10 billion, surpassing the record $6.05 billion paid by Josh Harris for the Washington Commanders in 2023.
Statements from Key Figures
John Mara expressed enthusiasm about the Koch family’s involvement. He noted their understanding of the franchise’s history and the relationship with fans. Julia Koch commented on their honor to join the Giants organization, highlighting its deep roots in New York and their intent to support the team’s success.
Other Recent Sales in the NFL
The NFL owners also approved sales of minority stakes in other franchises, including the New England Patriots and the San Francisco 49ers. Details were not disclosed as discussions were confidential and votes announced privately.
