Tag: Jeff Bezos

Is there a $7 billion offer on the table for the Commanders?

Perhaps this isn’t over after all.

When the news broke Thursday afternoon that Washington Commanders owner Dan Snyder had agreed in principle to sell the team to Philadelphia 76ers and New Jersey Devils owner Josh Harris, fans were elated.

Of course, the deal wasn’t final, as it was later reported to be nonexclusive and yet to be signed.

What does that mean?

It means someone can still contact Snyder and top Harris’ bid. That seemed unlikely, with Amazon founder Jeff Bezos telling those close to him he would not enter the bidding process.

Then there was Canadian billionaire Steve Apostolopoulos, who believes he remains alive in the bidding process, according to ESPN’s Adam Schefter. Houston Rockets owner Tilman Fertitta declared he would not raise his bid of $5.6 billion.

As it turns out, there may indeed be another bidder. Darren Haynes of WUSA 9 in Washington, D.C., reported Friday evening that former Duke basketball player and successful businessman Brian Davis made a $7 billion cash offer to Snyder to purchase the Commanders.

Last month, “The Sports Junkies,” from 106.7 The Fan in Washington, first mentioned Davis had placed a bid on the Commanders, but it was not mentioned again — until Friday.

In Haynes’ report, he mentions that Davis made his bid on March 21 and, according to documents obtained by WUSA, “is offering to pay the first $1 billion to Dan Snyder within 24 hours, and $6 billion within seven days.”

Wait, there’s more.

Davis is also willing to indemnify Dan Snyder as a condition of his offer, according to the March 21 letter, meaning Davis is willing to take on any legal liability related to Dan Snyder and ongoing investigations into the team.

Davis, a Bladensburg, Maryland native, played one season in the NBA and owns Urban Echo Energy LLC, a LEED-certified developer of renewable energy assets.

How did Davis accrue his wealth?

A source told WUSA9 that Davis raised the capital by selling his own intellectual property. During that time, private investors realized he had a $50 billion.

More from Haynes:

The goal is for NFL owners to approve Washington’s sale at the next league meetings, which begin on May 22. That’s still five weeks away.

While Washington fans do realize Snyder is selling the team, this process may not entirely be over yet.

Could Commanders’ fan Matthew McConaughey still be in the mix as a minority owner?

The longtime Washington fan said in November he wanted to join the bidding on the Commanders.

Jeff Bezos is likely out as a potential owner of the Washington Commanders. Teddy Schleifer of The Puck broke the original story Wednesday that Bezos was not expected to bid on the Commanders. Others, such as The Washington Post and ESPN, also confirmed those reports.

Before Schleifer’s report on Wednesday, he also confirmed that hip-hop mogul Jay-Z and iconic actor — and noted Washington superfan — Matthew McConaughey were not part of a prospective Bezos’ bid. In his Tuesday story on the Washington sale, Schleifer said the following regarding Jay-Z:

I’ve recently learned that Jay-Z was never a part of Bezos’s campaign, at least not in any formal capacity, despite earlier reporting that the two would “put in an official joint bid to purchase the team in January.” It’s possible that the general topic came up in conversation at their two-hour Los Angeles dinner, as chronicled by paparazzi last November, but the mini-mogul was at no point involved in any prospective bid, I’m informed.

On McConaughey:

I’m similarly told that McConaughey, a longtime friend of Snyder’s who had been reportedly “joining” the Bezos campaign, has been talking for months to potential Commanders buyers—including Bezos—but he has never been committed to Bezos, specifically.

McConaughey is a friend of Washington owner Dan Snyder and has been to games in the past as a special guest. He’s been outspoken about wanting to be part of the next ownership group of the Commanders. And, according to Schleifer, it’s not out of the question that McConaughey shows up as a part of Josh Harris or Steve Apostolopoulos’s bids before the team is sold.

Harris, who is co-owner of the Philadelphia 76ers and New Jersey Devils, is viewed as the frontrunner to be Washington’s next owner. Billionaire Mitchell Rales, a businessman and philanthropist, along with NBA legend Earvin “Magic” Johnson, are part of Harris’ bid. Could McConaughey join the Harris group next?

McConaughey isn’t the only celebrity Washington fan who has mentioned an interest in owning part of the Commanders. NBA superstar Kevin Durant, a Maryland native, has also mentioned the possibility.

With Bezos now out of the running [by his own choosing], could this be coming to a close soon?

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Jeff Bezos will not submit bid for the Commanders

Bezos is out, seemingly paving the way for Josh Harris and his group to become the next owners of the Washington Commanders.

There will be no more drama surrounding Jeff Bezos and the Washington Commanders.

Teddy Schleifer of The Puck broke the story on Wednesday afternoon that the Amazon founder was not currently involved in the bidding process for the Commanders and wasn’t planning on making a bid.

This would presumably make Philadelphia 76ers and New Jersey Devils owner Josh Harris the runaway favorite to buy the team from owner Daniel Snyder.

Bezos’ name has hovered around the Commanders since it was announced on Nov. 2 that Snyder had hired Bank of America to explore potential transactions for the historic NFL franchise. The rumors have shifted multiple ways regarding Bezos. There were rumors that Snyder wouldn’t sell to Bezos because he owned The Washington Post. Then, later, sources close to Snyder said that he would indeed accept a bid from Bezos.

Other potential owners were always wary of Bezos entering the bidding late. It’s a process that Harris saw play out in his previous interest in the Denver Broncos when the Walton-Penner family won the bidding. Harris was willing to pay $5 billion for the Broncos if he knew that would close the deal. However, he wasn’t given assurances that it would be enough and didn’t want his bid used to drive up the price.

Harris has added billionaire Mitchell Rales and NBA legend Earvin “Magic” Johnson to his bid, seemingly strengthening his chances of coming away as the top bidder. He is one of three known bidders that include Steve Apostolopoulos and Houston Rockets owner Tilman Fertitta. Harris and Apostolopoulos reportedly had bids near $6 billion, although there was more confidence in Harris’ bid.

Bezos hired Allen & Company, a New York investment firm, to look into a possible bid for the Commanders, The Washington Post reported in February. Other sources indicate that Bezos and Snyder did speak sometime around the holidays.

The NFL is hoping to have clarity on Washington’s ownership situation at next month’s league meetings in Minneapolis.

Don’t count Jeff Bezos out from buying the Commanders just yet

A new report suggests Bezos and Dan Snyder spoke in December.

We are getting late in the process of the sale for the Washington Commanders. The NFL wants it done. And, apparently, owners Dan and Tanya Snyder are looking forward to it being over, too.

One man keeping the process alive is Amazon founder Jeff Bezos.

No, Bezos isn’t officially holding up the process; his lack of involvement thus far has been the biggest mystery since the Commanders went up for sale in November.

Will Bezos place a bid? Is he even allowed to place a bid? Remember the reports from earlier this year that Dan Snyder was now allowing Bezos to enter the bidding process? Not true, says a source close to Snyder.

Snyder’s animus toward Bezos comes from Bezos owning The Washington Post. The Washington Post has broken many of the stories concerning the organization’s toxic workplace under Snyder’s ownership.

While Bezos has yet to bid on the Commanders, he reportedly hired Allen & Company, an investment firm known for being involved in the transactions of professional sports franchises. Why would he do that if he wasn’t at least considering a bid on the Commanders?

Now comes a report from Theodore Schleifer of Puck that suggests things are far from over regarding Bezos potentially buying the Commanders.

Schleifer covers a lot of bases regarding Bezos and his potential interest in the Commanders, including how in 2021, he had his close business associate “poke around the team.”

Check out this excerpt from Schleifer’s story:

His interest was not merely an idle fancy—he was absolutely intrigued, I’m told. Bezos could have done this himself, but in a sign of his commitment, he decided to hire a team at Allen & Co.—Steve Greenberg, Terry Morris and Mike Melnitzky—to explore an offer. The Allen sports team lacks extensive buy-side experience, as several peers noted, but are known for their discretion. Bezos and Allen were granted a nondisclosure agreement to peruse the team’s financials (although Bezos, unlike other NDA’d prospective buyers, didn’t tour the facilities). According to a person briefed on the conversation, Bezos also spoke directly with Snyder sometime around the holidays.

Did you catch that last part? Snyder and Bezos spoke around the holidays. That seems like a fairly large deal. Something else to note, which isn’t breaking news, Bezos and his potential interest in the franchise hasn’t leaked to the media.

We know of three bids for the Commanders: the Josh Harris group, featuring Mitchell Rales and Magic Johnson; Canadian billionaire Steve Apostolopoulos and Houston Rockets owner Tilman Fertitta. Harris is the clear favorite — until he isn’t. What that means is if Bezos enters the bidding, it’s his team. 

Will that happen? With a deadline of May 22, Bezos has plenty of time. Schleifer does an outstanding job of highlighting why Bezos has chosen to remain out of the early bidding for the Commanders. 

If Bezos wants the Commanders, he’ll own the Commanders.

Report: Target date for Commanders’ sale is set

Not too much longer.

Since the story was broken in early November that Washington Commanders owner Daniel Snyder hired Bank of America to explore potential transactions with his team, rumors and reports have circled the franchise.

There have been alleged deadlines, real bidders, mystery bidders and the drama surrounding if Snyder would allow Amazon founder Jeff Bezos to enter the bidding.

We’ve recently learned that Snyder has no problem with Bezos entering the bidding, and he’d welcome Bezos entering the process.

What we do know is there have been three bids on the Commanders: Philadelphia 76ers and New Jersey Devils owner Josh Harris’ group, featuring Mitchell Rales and Magic Johnson, Canadian billionaire Steve Apostolopoulos and Houston Rockets owner Tilman Fertitta. Harris and Apostolopoulos have bids in the $6 billion range.

Now, according to a report from A.J. Perez of Front Office Sports, we could have a new deadline.

From Perez:

Sources said the current target to select a bidder is ahead of the start of the next owners meetings on May 22 — a day before the Commanders start their voluntary offseason workouts, also known as organized team activities.

Shortly after the Commanders were open for business in November, many believed the NFL owners meetings in March was the target date for a sale. As that date came and went, the NFL likely set a new target date for Snyder to pick a winner.

Regardless of when the sale actually goes down, it shouldn’t be that much longer — we think.

Does Dan Snyder need Jeff Bezos?

One person says Snyder’s animus toward Jeff Bezos is “overblown.”

The potential sale of the Washington Commanders appears to now be in the home stretch. Josh Harris, Tilman Fertitta and Steve Apostolopoulos are the known interested parties, with Amazon founder Jeff Bezos still lurking.

For months, it appeared that Washington owner Dan Snyder would not deal with Bezos, even blocking him from the bidding process. Snyder’s unhappiness over The Washington Post’s coverage of him and the team in recent years was believed to be his reason for keeping Bezos away from the bidding. Bezos owns The Washington Post.

Could the tide be changing?

According to Charles Gasparino of FOX Business Network, Snyder’s issues with Bezos are “overblown,” and Snyder isn’t opposed to Bezos placing a bid on the Commanders and has communicated that to Bezos’ people.

Gasparino joined “Grant and Danny” on 106.7 The Fan Thursday and discussed Bezos.

“Absolutely not, totally overblown,” Gasparino said when discussing if Snyder’s issues with The Washington Post would prevent him from taking the check from Bezos. “He’s not going to turn down a $6.5 billion-dollar payday.”

Gasparino used the word “overblown” multiple times in discussing Snyder’s anger toward Bezos. He also said that the signal has been put out to Bezos that Snyder is open for business.

Grant Paulsen then told Gasparino that he’s talked to his sources, some of whom are close to Snyder, and they’ve been consistent that Snyder does not like Bezos.

What does Gasparino say to those people?

Gasparino said he didn’t get the information from Snyder’s side that he would sell to Bezos as some believed. He received that information from others.

It’s natural to believe that Snyder, wanting to receive more for his franchise, is now including Bezos to raise the price. After all, Bezos’ wealth far surpasses all of the other potential buyers. Gasparino said that’s not the case.

Throughout the process, many have said if Bezos did intend on buying the Commanders, or at least submitting a bid, he would come in at the last minute. As of now, Bezos has yet to submit a bid, per Gasparino.

Ultimately, for Snyder, this is all about wanting the most for the Commanders. And no alleged grudge is going to keep him from accepting a bid from Bezos if it’s the best offer. So it’s no surprise we are now hearing Bezos is indeed in the picture.

If Bezos wants the Commanders, he’ll own the Commanders if we are to trust these latest reports. The earlier reports of Snyder refusing to deal with Bezos are all likely true, too. But with the sale nearing the finish line, things change. It’s all about the money. It was always about the money, and no grudge will stand in the way of the best offer.

 

Commanders not ‘formally’ on the agenda for next week’s NFL owners meetings

It doesn’t mean the sale will not be discussed.

Washington fans have waited months for a resolution on the team’s potential sale. When it was revealed on Nov. 2 that the Snyder family had hired Bank of America to explore potential transactions with the franchise, the March owner’s meetings were thought to be the deadline for a sale.

Jay Glazer of FOX Sports was among the first to report that other owners hoped to complete the Washington sale by the end of March.

“The other interesting part is the timeline,” Glazer said in November. “This is not going to be a long, drawn-out process. I’m told the hope is to have this done within the next six months and actually have it finalized by the NFL owner’s meetings next March.”

Here we are, days away, and it doesn’t appear Washington will be sold by next week’s NFL meetings.

According to Daniel Kaplan of The Athletic, the Commanders and their potential sale are not “formally on the agenda” for next week’s annual meetings.

This doesn’t mean that Snyder is keeping the team. Things have heated up recently regarding Washington’s sale, with Philadelphia 76ers and New Jersey Devils owner Josh Harris thought to be the frontrunner. Harris added billionaire Mitchell Rales to his bid earlier this month, and just this week, NBA legend and successful businessman Magic Johnson also joined the Harris bid.

Canadian billionaire Steve Apostolopoulos interested in the Commanders

Apostolopoulos recently toured Washington’s facilities.

Another potential buyer interested in the Washington Commanders has emerged, according to Adam Schefter of ESPN.

Canadian billionaire Steve Apostolopoulos recently toured Washington’s facilities in Ashburn, Virginia, and FedEx Field. He joins Philadelphia 76ers and New Jersey Devils owners Josh Harris and Houston Rockets owner Tilman Fertitta as potential buyers who have toured the franchise’s facilities.

The level of interest Amazon founder Jeff Bezos has in buying the Commanders is not known, but some believe he could still bid on the NFL franchise. Washington owner Daniel Snyder has reportedly resisted any Bezos interest because he owns The Washington Post.

Who is Apostolopoulos?

He founded Six Ventures, Inc., a private equity venture fund. He was born in Toronto and attended Harvard. Apostolopoulos was reportedly interested in buying the NBA’s Charlotte Hornets from Michael Jordan but has recently focused on the Commanders, per Schefter.

The Commanders are valued at $5.6 billion, according to Forbes. Apostolopoulos is valued at approximately $3.9 billion, according to A.J. Perez of Front Office Sports.

Apostolopoulos will need investors if he plans on entering the bidding. Fertitta and Harris have placed bids on the Commanders. Harris has partnered with Mitchell Rales and, most recently, Magic Johnson, strengthening his bid, and some view him as the frontrunner.

The NFL owner’s meetings begin next week, and the league was initially hoping for a resolution at that time. However, while the sale is progressing, it could be May before owners vote on a potential new owner for the Commanders.

Report: Dan and Tanya Snyder have ‘cleared out’ of Commanders’ team facility

And a sale is believed to be “imminent.”

Could Dan and Tanya Snyder be selling the Washington Commanders soon?

According to Mike Florio of Pro Football Talk, the Snyders have “cleared out” of Washington’s team facility in Ashburn, and some believe a sale is “imminent.”

Furthermore, Florio’s sources indicate that a sale could be ” approved and announced as soon as the upcoming league meetings in Arizona.”

The league has targeted March’s owner meetings for months as the time other owners hoped to vote on a potential new owner for the Commanders. However, multiple reports in recent weeks have created some hesitation. One of those reports says Snyder wants fellow owners and the NFL to indemnify him against future legal liabilities and costs if he sells the franchise he’s owned since 1999.

Florio’s report doesn’t indicate who a potential buyer could be. Still, Philadelphia 76ers and New Jersey Devils owner Josh Harris has been the favorite since Snyder was allegedly freezing out Amazon founder Jeff Bezos. Helping Harris’ cause is the addition of D.C. billionaire Mitchell Rales as a partner in his bid.

It’s not known if Bezos was allowed to bid on the Commanders, but he did hire an investment firm familiar with the sale of sports franchises to consider a bid.

The NFL owner’s meetings begin on Sunday, March 26.