Boxing legend Floyd Mayweather is set to launch a $700million bid to become a part-owner of the New York Giants, according to reports.
TMZ Sports claims Mayweather, widely considered one of the greatest fighters of all time, is leading a consortium looking to purchase a 10 percent stake in the NFL franchise this year.
The 47-year-old and business partner Meyer Orbach, a prominent real estate magnate, are said to be readying an offer in the region of $700m and plan to submit it soon.
It is believed another wealthy investor will also hop on board before they put forward the proposal to the Giants.
Mayweather, who raked in more than $1bn over the course of his iconic boxing career, has already moved $200m into an escrow account amid his plans to buy a stake in the team, the report adds.
Unlike the 50-0 great, however, Orbach already has experience in buying a sports franchise, as he still currently owns just under 20 percent of the NBA’s Minnesota Timberwolves.
Floyd Mayweather is set to launch a $700m offer to become a part New York Giants owner
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‘My partners and I are always looking at different opportunities, including ownership of sports teams. I can’t comment further than that,’ he is quoted as saying by TMZ about his rumored bid with Mayweather.
The Giants, one of two ‘New York’ NFL franchises along with the Jets, are one of the sport’s most decorated teams after winning four Super Bowls in their 100-year existence.
It was recently revealed that owners John Mara, whose grandfather Tim founded the franchise, and Steve Tisch are looking to cash in on part of their stake in New York.
According to Forbes, the Giants are currently worth an estimated $7.5bn.
They just endured another horror season under head coach Brian Daboll, failing to make it into the playoffs for the second straight year after going 3-14.
Since they last won the Super Bowl in the 2011 campaign, the Giants have only reached the postseason twice in 13 years.
The Giants just endured another miserable season under head coach Brian Daboll (pictured)
Giants owners John Mara (pictured) and Steve Tisch are looking to sell a minority stake
Mayweather earned over $1bn in his iconic career, including $300m against Conor McGregor
Mayweather is understood to already have the backing of two members of the Mara and Tisch families, who each own a 50 percent stake in the team, after receiving letters of support ahead of his proposed bid.
Back in December, he also added another prized property in New York City to his real estate empire after spending $20m to purchase a building in Midtown Manhattan along Sixth Avenue that stretches almost a quarter of a block.
The former five-weight world champion generated record amounts of cash over the course of his career, sweeping up close to $300m alone from his final professional contest against Conor McGregor in 2017.
Since that lucrative crossover event, Mayweather has taken part in a number of exhibition bouts, including against social-media sensation Logan Paul.
