NEW YORK (AP) — NFL owners voted to approve the sale of 10% of the New York Giants to Julia Koch and her family, Commissioner Roger Goodell said Wednesday.
The team announced after Goodell's confirmation at the league's annual fall owners meeting that the Koch family acquired a minority, non-controlling interest that “will further support the growth of the organization, deepen its community impact, and embrace future opportunities.”
The Mara and Tisch families remain the controlling owners, with the organization saying its leadership structure is unchanged. John Mara is president and CEO, while Steve Tisch is executive vice president and chairman of the board.
“It was clear during our discussions that Julia and her family understood the importance of this franchise to the Mara and Tisch families and the relationship we have with our fans and community," said Mara, whose family has owned the team since its founding in 1925. "Our discussions were productive, and we are pleased to have them as a part of the New York Giants.”
Julia Koch, the widow of David Koch, who died in 2019, has a net worth of $81.2 billion, according to Forbes. She and her family last year bought 15% of BSE Global, the company that owns the NBA’s Brooklyn Nets and WNBA’s New York Liberty.
The Giants announced in February they had hired Moelis & Co. to explore selling a piece of the team. An agreement was reached in early September but required league approval.
Bloomberg at the time was first to report the Giants deal at a valuation of $10 billion, which would surpass the then-North American professional record $6.05 billion Josh Harris’ group paid to buy the Washington Commanders from former owner Dan Snyder in 2023.
“My family and I are honored to join the Giants organization, 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.”
Owners also approved the sale of minority stakes in the New England Patriots and San Francisco 49ers, according to a person familiar with the situation. The person spoke to The Associated Press on condition of anonymity Wednesday because the votes were not announced.
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AP NFL: https://apnews.com/hub/nfl
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