Gary Vaynerchuk is a successful entrepreneur with an estimated net worth between $200 million-$300 million, and also a well-known Jets superfan. But the celebrity investor doesn’t want to buy a piece of his favorite NFL team, yet at least.
“I don’t want to check the box for optics,” Vaynerchuk told Front Office Sports last week at Radio Row in San Francisco ahead of Super Bowl LX.
“Unless there’s some deal in place that can make me get way up there, I’m not gonna buy like 1% of the Jets and be like, ‘I did it,’” said Vaynerchuk. “That’s not what I want. I want to be the operator.”
Recent NFL franchise valuations have estimated the Jets to be worth between $8 billion-$9 billion, meaning even a 1% stake would cost at least $80 million. Majority ownership of the team would require multiple billions of dollars. Woody Johnson bought the Jets in 2000 for $365 million.
The VaynerSports agency represents NFL stars like Lions edge rusher Aiden Hutchinson and Colts cornerback Sauce Gardner (a former Jets player), as well as players in other sports. Vaynerchuk is also an investor in the 3×3 women’s basketball league Unrivaled, as well as pickleball, whiffle ball, and sailing leagues.
But the Jets remain “the big one” for Vaynerchuk, who is known as “GaryVee” on social media, where he has more than 50 million followers across all platforms.
“Would I buy 5% because the Johnson family said you can … grow into the primary operator? Sure,” Vaynerchuk said. “But I’m not gonna piggyback on some PE firm that buys into the Jets and be like, ‘Hey, say that GaryVee bought that.’ That’s not real to me. That’s not earned the way I drew it up in my mind in fourth grade.”
In the meantime, the entrepreneur will stay plenty busy, as his VaynerX holding company keeps adding new properties across marketing, media, and production. But true Jets ownership will always be on his mind.
“I’m going play it out, see if I can get there,” Vaynerchuk said. “And if I can’t, I’ll focus on the Knicks.”
