The former New York Giants quarterback told CNBC Wednesday that there are multiple reasons why he’s backing out of negotiations to become a minority owner of Big Blue. First and foremost, the price.
‘Basically, it’s too expensive for me,’ Manning said. ‘I mean, these numbers are getting very big.’
‘Even a 1% stake?’ the interviewer asked.
‘Yeah, a 1% stake of something valued at $10 billion, it turns into a very big number.’
In addition, Manning pointed to the conflicts of interest he would face as a broadcaster with ESPN – much like what fellow former quarterback, broadcaster and Raiders minority owner Tom Brady has had to deal with.
On top of that, Manning coaches in the Pro Bowl and hosts the annual Manning Passing Academy for high schoolers, an event that college quarterbacks also attend.
Ultimately, all of those factors convinced the two-time Super Bowl MVP to pull out of a deal to become a partial owner. But Manning also said that the decision won’t stop him from staying involved with the team in other capacities, as he has in the six years since his retirement.
Eli Manning career earnings
Manning made $252.3 million in his 16-year playing career, according to Spotrac, all of it from the Giants.
That money only includes what he received from his contracts and not the extra money he has earned from endorsements or in his other post-playing career ventures.