The New York Giants are putting a limited stake in the team on the market, with the process likely to set a record for an NFL franchise valuation, ESPN reports.  This according to Sports Business Journal.

The Giants, regarded as one of the most valuable sports teams in the world because of their history and the New York City market, have hired Moelis & Co. as their banker, according to the report.

The team's majority stake and control will remain with the Mara family. The team's president is John Mara, whose grandfather Tim Mara founded the team in 1925.

Though the reason for exploring a limited partner is not known, the timing comes after the NFL approved a policy in August that allows private equity firms to buy up to 10% of teams.

The Giants organization and Moelis & Co. declined to comment to Sports Business Journal.

Forbes' most recent valuation of the Giants came in at $7.3 billion, while CNBC pegged it at $7.85 billion.

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