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Does anyone know how the Mara family divides ownership

Essex : 12/7/2021 10:48 am
They have 10 children (or around that number) from Wellington's side. John is the person who runs the enterprise for them, but who actually owns the team? Is it a trust, do they split the profits evenly? Has John bought out his siblings etc etc. I raise this because we area all calling for change, but what makes us think John can just throw out Chris and Tim McDonnell. If you look at the Giants Player Personnel department, not only is it run by Chris, but Tim is basically the second in charge. I guess my point is what makes us think John Mara can do anything about Chris or Tim and all this nepotism. I mean, after all, this family owns the team and it is not even clear what John's ability is to effect change even if he wants to.
Link to front office Depth Chart - ( New Window )
Do the Mara's really care at all about the fans??  
Rick in Dallas : 12/7/2021 10:51 am : link
They have the third most valuable franchise in the NFL valued at $3.9 billion per Forbes...
Seems like the shit product on the field these last 9 years has not caused harm to their investment...
How would anyone here know that ?  
blueblood : 12/7/2021 12:01 pm : link
seriously..
RE: How would anyone here know that ?  
Essex : 12/7/2021 12:06 pm : link
In comment 15485322 blueblood said:
Quote:
seriously..

I don't know how anyone would know, but it is probably the most important question in terms of what Mara can change, right? If he is basically elected among his family members to run their interests, many family members could politic for Chris and Tim to keep their jobs. If Mara has unfettered discretion, then the decision to rid the personnel department of those family members, while always going to be hard, might be more plausible.

Everyone acts like Mara is a 50% owner. He is probably not, he is more likely owns that 50% with his siblings, which makes his position all the more difficult to make lasting changes that excludes family members.
They all own equal shares  
Greg from LI : 12/7/2021 12:06 pm : link
I think they all vote for a "managing partner", though? Which is John Mara.
And, of course, don't you think our beat writers  
Essex : 12/7/2021 12:09 pm : link
should know this. It is a pretty important question. And, I am not a probate lawyer, but I do think most estates have to be made public to go through probate in case anyone wants to contest it. So, it should be pretty easily found out how the Giants were left to the descendants of Wellington and Ann (who probably initially inherited it).
RE: They all own equal shares  
Essex : 12/7/2021 12:09 pm : link
In comment 15485330 Greg from LI said:
Quote:
I think they all vote for a "managing partner", though? Which is John Mara.

Right, but then what makes us think John getting his brother and nephew out would be so easy. What if these are popular members of the family and they would rebel against John if he tried such a move.
RE: They all own equal shares  
Bill in UT : 12/7/2021 12:12 pm : link
In comment 15485330 Greg from LI said:
Quote:
I think they all vote for a "managing partner", though? Which is John Mara.


So my guess would be that while John cannot take any ownership rights/profits from other family members like Chris, as managing partner for the Maras, he should still have final say over hiring/firing decisions, along with Tisch?
RE: RE: They all own equal shares  
Essex : 12/7/2021 12:15 pm : link
In comment 15485338 Bill in UT said:
Quote:
In comment 15485330 Greg from LI said:


Quote:


I think they all vote for a "managing partner", though? Which is John Mara.



So my guess would be that while John cannot take any ownership rights/profits from other family members like Chris, as managing partner for the Maras, he should still have final say over hiring/firing decisions, along with Tisch?

Yes, but the more important question what are the terms of him being managing partner. Was he given that in life by his parents estate or is he voted and can be removed. I mean when you are removing people from positions (not that I think he will remove Chris or Tim) who can then politick to remove you, it creates a dynamic that makes change much more difficult.
But, many of our beats are too busy making jokes all day to be bothered with actual reporting.
RE: RE: They all own equal shares  
Mad Mike : 12/7/2021 12:17 pm : link
In comment 15485334 Essex said:
Quote:
Right, but then what makes us think John getting his brother and nephew out would be so easy. What if these are popular members of the family and they would rebel against John if he tried such a move.

I think it's extraordinarily unlikely that, regardless of what the individual ownership %'s are, there aren't provisions in the entity's operating agreement that lay out who holds control, and what authority (if any) the other owners have to override that control. I would be very very surprised if John Mara doesn't have the authority to remove Chris Mara from his active role with the team. This is an organization that knows all too well the problems of not having defined authority.
When John retires  
Dave on the UWS : 12/7/2021 1:07 pm : link
( which may be soon) this will be a horrendous shot show.
RE: RE: RE: They all own equal shares  
FStubbs : 12/7/2021 3:53 pm : link
In comment 15485346 Mad Mike said:
Quote:
In comment 15485334 Essex said:


Quote:


Right, but then what makes us think John getting his brother and nephew out would be so easy. What if these are popular members of the family and they would rebel against John if he tried such a move.


I think it's extraordinarily unlikely that, regardless of what the individual ownership %'s are, there aren't provisions in the entity's operating agreement that lay out who holds control, and what authority (if any) the other owners have to override that control. I would be very very surprised if John Mara doesn't have the authority to remove Chris Mara from his active role with the team. This is an organization that knows all too well the problems of not having defined authority.


I mean at that point it would come down to a vote and if John is recommending Chris leave personnel, I don't think Chris wins that vote.
Just watch reality TV if you care about shit like this.  
jsuds : 12/7/2021 4:42 pm : link
The peasants will ever know what happens behind the closed doors of royalty like the Maras. Doesn't matter anyway 'cuz there's nothing you can do about it. Ever.
RE: RE: RE: RE: They all own equal shares  
Mad Mike : 12/7/2021 4:58 pm : link
In comment 15485664 FStubbs said:
Quote:
I mean at that point it would come down to a vote and if John is recommending Chris leave personnel, I don't think Chris wins that vote.

Well my point is I doubt it comes down to a vote. I would think that, regardless of ownership, authority to manage the entity is clearly outlined in governance documents, and held by John (or John and Steve). I would be very surprised if roles participating in football operations are subject to a vote of all the owners. Even roles for family members like Chris.
So I don’t think they were grandfathered in  
bhill410 : 12/7/2021 5:29 pm : link
But the NFL requires one individual to own 30% of the team and be given exclusive rights to vote on league issues. If you aren’t in compliance with that I believe there are fines teams must pay manually. Not sure if they arranged it so John owns 30% and the remaining 10 siblings own the other 20%, if they just pay the 10% fee, or if they are grandfathered in.
RE: RE: They all own equal shares  
ron mexico : 12/7/2021 5:34 pm : link
In comment 15485334 Essex said:
Quote:
In comment 15485330 Greg from LI said:


Quote:


I think they all vote for a "managing partner", though? Which is John Mara.


Right, but then what makes us think John getting his brother and nephew out would be so easy. What if these are popular members of the family and they would rebel against John if he tried such a move.


no one said it would be easy. Would be very difficult and require Tisch and a couple of Mara backing



RE: So I don’t think they were grandfathered in  
ron mexico : 12/7/2021 5:38 pm : link
In comment 15485817 bhill410 said:
Quote:
But the NFL requires one individual to own 30% of the team and be given exclusive rights to vote on league issues. If you aren’t in compliance with that I believe there are fines teams must pay manually. Not sure if they arranged it so John owns 30% and the remaining 10 siblings own the other 20%, if they just pay the 10% fee, or if they are grandfathered in.


thats may not be not exactly right, my reading of this is that you have to have one person put up 30% of the purchase price in cash. which is not the same as ownership stakes 100 years down the line. I doubt there is a clear publicly available answer though.

NFL guidelines require that the principal owner put up at least 30% of the purchase price in cash.
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