"A 1% stake valued at $10 billion turns into a very big number," he said, referring to a bill that would run $100 million.

Retired New York Giants quarterback Eli Manning says he is backing out of his bid to purchase a stake in his former team.

It was less than three months ago that Eli Manning reportedly expressed interest in purchasing a stake in the New York Giants. But with team valuations in sports continuing to skyrocket, it doesn’t appear that the 2-time Super Bowl champion will be buying a piece of his former team anytime soon.