Floyd Mayweather is leading a group looking to purchase a 10% stake in the New York Giants, according to reports. The undefeated boxing champion, alongside his business partner Meyer Orbach, a notable real estate magnate, is putting together an offer valued around $700 million. Additional investors are expected to join the group. Mayweather has already moved $200 million into an escrow account in preparation for the proposal.
Orbach, who also owns nearly 20% of the Minnesota Timberwolves, confirmed the venture, stating that he and his partners are always exploring opportunities like sports team ownership. The New York Giants, worth an estimated $7.5 billion, are partially available for sale after current owners John Mara and Steve Tisch, descendants of the franchise’s founder, expressed interest in selling part of their stake.
Reports suggest that Mayweather has already received letters of support from some team owners. However, he declined to comment when contacted for further details.
