Posted on 09/04/2025 11:27:56 AM PDT by Red Badger
The Koch family reportedly has agreed to purchase a 10% stake in the New York Giants.
The deal, which was first reported by Bloomberg, is pending approval by league owners, which could come as soon as their next meeting in October.
It would come at a valuation of $10 billion, which would surpass the then-North American professional record of $6.05 billion that Josh Harris' group paid to buy the Washington Commanders from former owner Dan Snyder in 2023.
(Excerpt) Read more at espn.com ...
The story is a little confusing, as it would seem that Koch is investing $1Billion for a 10% stake. Yet, they mention the $6Billion purchase price of the Redskins, which we assume is 100% of the team. The headline kind of implies they’re investing $10Billion, but they never actually say what that amount is.
If anyone can run a business into the ground it should be members of the Koch family. They are known for buying going businesses and destroying them.
In their books they call it “creative destruction.”
I’m starting to believe that these big League sports franchises are nothing more than money laundering operations
I assumed the "non-controlling share" angle to this means the Koch owners will have no say in the organization's management and operations.
The NFL Giants have one of the more interesting ownership arrangements in pro sports.
Actually, the Green Bay Packers have the most interesting ownership arrangement.
The Green Bay Packers have been a publicly owned, nonprofit corporation since 1923. They were first organized as the Green Bay Football Corp., and then reorganized in 1935 as Green Bay Packers, Inc.
There are approximately 5,204,625 shares owned by 538,967 stockholders – none of whom receives any dividend on the initial investment.
The corporation is governed by a board of directors and a seven-member executive committee.
Not sure how they are a non profit corporation.
As a publicly held nonprofit, the Packers are also the only North American major league sports franchise to release its financial balance sheet every year.
GREEN BAY – Finances remain strong at 1265 Lombardi Ave.
The Packers reported an $83.7 million operating profit for the fiscal year ending March 31, 2025, in their annual financial report released Wednesday.
That represents a $23.6 million increase from the previous year’s $60.1 million operating profit, a robust rise of 39.3% mostly due to an anomaly related to the number of home games that may or may not happen again in the near future.
In the 2024 season, the Packers hosted nine regular-season games at Lambeau Field for the first time. The additional game on top of the usual eight accounted for much of the $34.6 million increase (13.7%) in local revenue over the prior year. National revenue also rose $30.3 million (7.5%), in line with the annual trends related to the NFL’s broadcasting contracts and expanded offerings on streaming services.
No explantion of where the profits go. They give away a paltry $13 million per year.
Yep, the Bills are New York’s team.
It sounds like the Packers are what is known as a "mutual-benefit nonprofit corporation," which means it exists to serve a purpose other than earning revenue and distributing profits to its shareholders.
This type of non-profit corporation does pay corporate income taxes on its earned income -- much like a condominium association.
“Who used to be from New York. Which is why it’s the “New York Football Giants”.”
Who USED TO BE in New York too.
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