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Stock impact report

New York Giants ownership is exploring the possibility of selling minority stake in franchise [CNN]

Moelis & Company Class A (MC) 
Last moelis & company class a earnings: 4/22 04:15 pm Check Earnings Report
US:NYSE Investor Relations: moelis.com
Company Research Source: CNN
The Giants did not outline the percentage of the stake potentially for sale, but did confirm they had acquired the services of an investment bank to explore the opportunity. “The Mara and Tisch families have retained Moelis & Company to explore the potential sale of a minority, non-controlling stake in the New York Giants,” the Giants said in a statement sent to CNN. “There will be no further comment in regard to the process.” The statement comes after the Sports Business Journal reported Thursday that the Giants were looking to sell up to 10% of the team, citing unnamed sources. Last year, the NFL voted in favor of allowing private equity firms to buy up to 10% of teams. John Mara and Steve Tisch, on behalf of their families, currently own 50% each of the Giants. The franchise was purchased by Tim Mara, John's great grandfather, in 1925 for $500. In 1991, Steve Tisch's father, Robert, became a co-owner after negotiating a 50% stake in the team. The franchise has been c Show less Read more
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