Eli Manning bows out of potentially buying New York Giants stake: 'Too expensive'
While sitting down with CNBC, Manning said he is no longer interested in purchasing a minority stake in any football team.
"Basically, it's too expensive for me," Manning said. "A 1% stake valued at $10 billion turns into a very big number."
Indeed, it does turn into a very big number. Last fall, the Giants' valuation was $7.85 billion, fourth-highest in the NFL. But the valuations are only a part of it; another piece is the potential conflict of interest it could cause him with the rest of his work.
"I wouldn't be able to talk to players that I coached in the Pro Bowl. It was going to affect my day job," he said.
For Manning, that's not something he was willing to give up. As co-host of ESPN's ManningCast that runs alongside Monday Night Football, Manning could have been perceived to have a conflict of interest any time the Giants played.
The high price, combined with the potential to mess up things he loves, is how Manning came to this decision. The Mara and Tisch families have received bids for the minority stake, but no ownership has changed hands as of this writing.
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