Koch family to buy 10% stake in New York Giants at record $10bn valuation

• Koch family agree $1bn purchase of Giants stake

• Pending sale values franchise at record $10bn

• Move adds to Kochs' growing sports portfolio

The New York Giants have agreed to sell a minority stake to Julia Koch and her family in a deal that values the storied NFL franchise at more than $10bn, the highest valuation ever for a sports team.

According to multiple reports, the Kochs will pay more than $1bn for a 10% interest in the team. The transaction is expected to be presented to the league's other owners for approval when they meet in October.