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USA Today via Reuters

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USA Today via Reuters

Essentials Inside The Story

  • A major ownership development is unfolding within the New York Giants.
  • The move comes during a turbulent time for the franchise.
  • Know more about the Tisch family.

Among the millions of files released related to convicted sex offender Jeffrey Epstein, none thought there would be an NFL connection. Yet, here we are. Usually renowned as an Academy Award winner for co-producing Forrest Gump and co-owning the New York Giants, Steve Tisch’s run-in with controversy was not swift. But the consequences certainly seem to be.

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Days after his name surfaced (a staggering 440 times!), the NFL released a statement promising to look into the matter. At the annual pre-Super Bowl news conference, NFL Commissioner Roger Goodell also assured that an investigation will be opened based on “any of the facts that come up”. But while we wait for the NFL’s official decision, the 77-year-old has already pulled off a move many tagged as suspicious, given the timing.

As per reports, NFL executives were informed through a memo on Wednesday that Steve Tisch, along with his siblings Jonathan Tisch and Laurie Tisch, has requested approval to shift their remaining 23.1% ownership stake in the New York Giants into trusts designated for their children.

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“Following the transactions, the Sellers will no longer own any interest in the Club,” the memo states, but a spokesperson also mentioned that Tisch would still be involved in running the franchise.

But here’s the thing: If the transfer of the Giants’ shares to his children is approved and Tisch is no longer a part of the ownership group, it is not known whether the league can still investigate him. However, the timing has still raised eyebrows. The attempts to transfer the stake started roughly six weeks after Jeffrey Epstein and Steve Tisch were connected through a bunch of emails…

…The oldest of which date back to 2013, a time when Epstein was already registered as a Level 3 sex offender. As per The Athletic, Epstein reportedly introduced Tisch to at least four women. And, on several occasions, the owner was also seen receiving scouting reports from Epstein and several others on whether the women were “pro”, “civilian”, or a “working girl”. Tisch’s defense in all of this? A press release that categorically denied him accepting Epstein’s invitations and called the latter a “terrible person”.

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“We had a brief association where we exchanged emails about adult women, and in addition, we discussed movies, philanthropy, and investments. I did not take him up on any of his invitations and never went to his island. As we all know now, he was a terrible person and someone I deeply regret associating with,” the statement read.

What’s more, Washington Commanders, Philadelphia 76ers and NHL’s New Jersey Devils owner Josh Harris also appeared in the files. As per documents released in September last year, the owner was seemingly invited to a “tentative breakfast party” wth Epstein and Microsoft founder Bill Gates in attendance. While it is not known whether Harris accepted the invitation, he clarified that he had no direct correspondence with Epstein at any given time.

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“Josh Harris never had an independent relationship with Jeffrey Epstein,” a spokesman said. “Harris sought to prevent Epstein’s attempts to develop a corporate relationship with Apollo. As these emails indicate, Harris sought to avoid meeting with Epstein, canceling meetings and having others return his calls.”

As for Steve Tisch, the ownership transfer will likely not result in any changes in the team’s operations, but the proposed transfer would first need to be reviewed and approved by the league’s finance committee.

According to Front Office Sports, even if the ownership shares are ultimately moved to the Tisch children, Steve Tisch and his siblings are expected to continue holding their roles as chairman, director, and treasurer. A team source also mentioned that the family had long planned to move stake to ownership around this timeframe. That suggests it was not a sudden move, but the announcement also came just days before the upcoming meeting of the NFL’s team owners.

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The Tisch family’s involvement with the Giants dates back to 1991, when their father bought a 50% share from the Mara family. The families recently sold a 10% stake in the team to Julia Koch and her family, at a $10 billion valuation, after which the Tisches and Maras each hold 45% of the team. But it doesn’t end here.

Steve Tisch and his siblings had already shifted portions of their ownership stakes into trusts for their children in both 2023 and 2024, the memo mentions. And now, they want to further transfer the remaining 23.1% ownership stake.

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The Tisch children

All three Tisch siblings are currently in their 70s. Steve Tisch has five children from two marriages, though he lost one daughter in 2020. Laurie Tisch is a mother of two, one of whom is Carolyn Tisch Blodgett, the owner of Gotham FC. Meanwhile, Jonathan Tisch does not have any publicly known children, although his wife, Lizzie Tisch, has a daughter from a previous marriage.

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The Tisch family’s vast wealth can be traced back to their patriarch, Bob Tisch. In 1959, he and his brother purchased Loews Theatres and gradually expanded it into the diversified conglomerate Loews Corporation, which today operates across multiple industries, including insurance, energy, and packaging.

As of now, Giants’ fans will have to wait and watch if the request for transferring the ownership gets approved. The NFL has not commented on this yet.

This also isn’t the first time an NFL team has seen ownership change hands within a family amid controversy. In 1998, then-San Francisco 49ers owner, Edward J. DeBartolo Jr., transferred control of the franchise to his sister, Denise DeBartolo York, after he was recorded offering a bribe to the governor of Louisiana. DeBartolo was later granted a presidential pardon by Donald Trump.

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