Former New York Giants quarterback Eli Manning is no longer interested in buying a minority stake in his old team, telling CNBC Sport Wednesday that he’s been priced out.
“Basically, it’s too expensive for me,” Manning told CNBC Sport in an interview. “A 1% stake valued at $10 billion turns into a very big number.”
Manning’s comments come as NFL team valuations skyrocket. In CNBC’s Official NFL Team Valuations published in September, the Giants were valued at $7.85 billion, ranking fourth among the league’s 32 teams.
In December, the Philadelphia Eagles sold a minority stake in the team at a valuation of $8.3 billion roughly $1 billion higher than where CNBC Sport had valued the team a few months earlier. In May, the San Francisco 49ers sold a 6.2% stake at a valuation of more than $8.5 billion, according to people familiar with the matter. CNBC’s September valuation marked the 49ers at $7.4 billion.