New York Giants co-owner Steve Tisch is requesting that his ownership stake in the team be transferred to his children, according to an internal NFL memo.
Tisch – along with his siblings Jonathan and Laurie Tisch – notified NFL chief executives and club presidents on Wednesday of their intentions to move “approximately 23.1%” of their remaining interests in the team into separate trusts for their children, according to the memo obtained by CNN.
“Following the transactions, the Sellers will no longer own any interest in the Club,” the memo said.
“This transaction is part of estate planning that has been going on for 3-4 years and has nothing to do with anything else. And everybody’s role remains the same,” a source familiar with the matter told CNN.
The memo stated that the proposed transfers would complete a series of family estate planning transfers. “Prior transfers to these Trusts were completed pursuant to 2023 and 2024 Finance Committee approvals,” the memo reads.
The move is subject to approval by the NFL’s finance committee. CNN has reached out to the NFL and the New York Giants for comment.
Tisch was among several high-profile individuals impacted by the fallout after the Justice Department released a massive tranche of documents related to its investigation into Jeffrey Epstein, the convicted sex offender and disgraced financier.
Tisch has not been accused of or charged with any crime in connection with Epstein.
In a statement to CNN in late January, Tisch said, “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.”
Tisch has been “involved with the New York Giants since his father, Preston Robert Tisch, purchased 50 percent of the franchise in 1991” and was named executive vice president following his father’s death, according to a bio on the team’s webpage.
