Eli Manning says he's no longer interested in buying a piece of the NFL's Giants: 'It's too expensive for me'

Eli Manning says he is no longer interested in purchasing a minority stake in the New York Giants

The former MVP says NFL team valuations have become too expensive for his taste

Giants owners hired Moelis & Company to explore a potential sale of "a minority, non-controlling stake," they said in February

Watch now0:5000:50Eli Manning walks away from ownership bid for the New York GiantsNews sFormer New York Giants quarterback Eli Manning is no longer interested in buying a minority stake in his old team, telling CNBC Sport on Wednesday that he's been priced out. "Basically, it's too expensive for me," Manning said in an interview. "A 1% stake valued at $10 billion turns into a very big number. "Manning's s come as team valuations skyrocket

In May, the San Francisco 49ers sold a 6. 2% stake at a valuation of more than $8. 5 billion, according to people familiar with the matter

And last month, the NBA's Los Angeles Lakers agreed to sell the majority of the team at a $10 billion valuation, far higher than the franchise's $7 billion valuation according to CNBC Sport's Official NBA Team Valuations, published in February

Sarah Stier | Getty ImagesManning said he doesn't have interest in buying a stake in any other NFL team and that he believes the Giants are deserving of a $10 billion valuation

He also said other complications contributed to his decision to withdraw his name. "I wouldn't be able to talk to players that I coached in the Bowl

It was going to affect my day job," said Manning, adding there could have been conflicts of interest with his role on ESPN's ManningCast, the alternative Monday Night Football broadcast that he co-hosts with his brother, former NFL quarterback Peyton Manning

He owns a duction company — Ten Till ductions — and is a partner in the private equity firm Brand Velocity Group

Both families hired Moelis & Company to explore a potential sale of "a minority, non-controlling stake," they said in February

There's been renewed interest in NFL ownership in recent months

CNBC reported in May that investor Julia Koch had submitted a bid for a minority stake in the Giants

Former New York Giants defensive end Michael Strahan and billionaire Marc Lasry also teamed up to make a bid, Sportico reported in May

Manning said he still plans to be very involved in the Giants organization

He told CNBC Sport he has already spoken to the team, focusing on advice to the rookies, earlier this year

He is also a minority owner in the National Women's Soccer League's Gotham FC and TGL's New York golf team