Tag: Jeff Bezos

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.

Report: NFL doesn’t have enough votes to force Dan Snyder to sell Commanders

And don’t rule out Jeff Bezos yet.

As the Washington Commanders’ turn took another spin Friday afternoon when Josh Kosman of the New York Post dropped his latest report regarding the sale.

Per Kosman, NFL owners currently do not have enough votes to force Washington owner Dan Snyder to sell the Commanders if he doesn’t sell voluntarily.

For the NFL to remove Snyder as owner, they’d need 24 votes, and that’s a problem:

However, a source close to one NFL owner told The Post that the team bigwigs can’t reach the 75% threshold needed to force a sale by Snyder, a league pariah who faces allegations of sexual harassment and ESPN’s recent report of a criminal FBI investigation into allegations of financial misconduct.

Make no mistake; all owners want Snyder out. However, banding together and voting for his removal sets a dangerous precedent, something the entire league wants to avoid.

We’ve heard conflicting reports regarding the status of the Commanders recently. A Washington Post report two weeks ago stated that Snyder wanted indemnification from future liabilities and costs from other owners and the NFL. That didn’t go over well with the other owners.

This week, ESPN’s Adam Schefter reported that DC billionaire Mitchell Rales had joined Josh Harris’ bid for the Commanders. This was viewed as big news, with Schefter reporting Rales’ involvement. Snyder has also reportedly told some owners that Washington’s sale was “looking good” and that other owners would be happy with the sale price via The Washington Post.

What does that mean? It’s difficult to say.

In Kosman’s report from Friday, he noted that Amazon founder Jeff Bezos signed a confidentiality agreement recently, indicating that he could possibly be allowed to enter the bidding process. Snyder and his wife Tanya have reportedly kept Bezos out of the sale process because the Amazon founder owns The Washington Post. Snyder believes the respected newspaper has played a significant role in his downfall.

Something else to note, it wasn’t clear if Bezos signed the confidentiality agreement with Snyder or the NFL.

Snyder reportedly wants $6 billion for the Commanders, and the NFL would still like a resolution on the sale by March 26, the beginning of the league owner’s meetings.

Buckle up, folks.

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DC billionaire partnering with Josh Harris in attempt to buy the Commanders

Are we getting closer to a potential sale?

After a whirlwind week of news last week regarding the Washington Commanders and owner Daniel Snyder, it has been relatively quiet over the past few days. Mark Maske of The Washington Post reported earlier this week at the NFL’s committee meetings that Snyder and the Commanders were discussed.

One nugget Maske discussed was that Snyder hadn’t communicated any specifics regarding the sale to the NFL or fellow owners, leading some to become nervous that he would back out.

Now, we have news.

On Thursday morning, Adam Schefter of ESPN reported that DC billionaire Mitchell Rales is partnering with Josh Harris in an attempt to buy the Commanders. Harris is one of two known bidders for the team, along with Houston Rockets owner Tilman Fertitta.

Rales is the co-founder of Danaher Corporation and is worth $5.6 billion, according to Forbes. Harris owns the Philadelphia 76ers and New Jersey Devils and has a net worth of $6.2 billion.

Harris has toured Washington’s Ashburn facility.

With Harris and Rales as partners, Harris, who would likely be considered the lead investor, would have no problem coming up with a 30% equity stake in the franchise. If the Commanders sell for $6 billion, that number will come in at under $2 billion.

The NFL had hoped to vote on a sale of the Commanders at the owner’s meetings on March 26. While that may not be attainable, it’s clear there is movement on the sale of the Commanders, and it does not include Jeff Bezos — for now, anyway.

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Report: Commanders’ sale at a standstill?

It’s been a wild week regarding the potential sale of the Commanders.

What a crazy week it has been regarding the potential sale of the Washington Commanders.

A Washington Post report on Monday stated that Washington owner Daniel Snyder demanded that other NFL owners and the league indemnify him from future legal liabilities and costs if he sells the team. As expected, the other owners were furious and opened the possibility that they’d vote to remove him from ownership if he doesn’t sell.

The big news item of the week came Tuesday when investigative reporter Don Van Natta Jr. of ESPN dropped the bombshell report centering around Snyder acquiring a $55 million loan from Bank of America without the knowledge of his three minority owners at the time, leading to the three eventually selling their 40% stake to Snyder.

There was much more included in Van Natta’s report, which sent shockwaves around the NFL.

Oh, and there’s also the back-and-forth that Amazon founder — and owner of The Washington Post — Jeff Bezos is not allowed to bid on the Commanders or that he still remains in the mix.

Are you confused yet?

On Friday evening, A.J. Perez of Front Office Sports published his latest regarding the sale of the Commanders, saying it was at a standstill. Perez has been all over this story from the beginning.

Sources told Front Office Sports that there are multiple factors as to why the process that just a week ago seemed to be coming to a crescendo has stalled. One source laid out the biggest: Jeff Bezos.

While Philadelphia 76ers and New Jersey Devils owner Josh Harris and Houston Rockets owner Tilman Fertitta have placed bids on the Commanders, Bezos remains on the outside looking in. However, that could change at any time. Perez noted that if the owners vote to remove Snyder, that would be a game-changer.

Bezos is the potential owner many would want due to his vast wealth. In addition, Snyder taking a lesser bid to spite Bezos would infuriate other owners as it impacts the value of their teams.

Then there are Washington’s financial woes, which were highlighted in Van Natta’s report. The NFLPA survey was another black eye for the organization as it highlighted the franchise’s problems, many of which were financial, such as the facilities and travel.

Perez touched on those woes as a potential problem.

The financials for the Commanders that have been reviewed by those interested in acquiring the team paint a fairly bleak picture. The Commanders — which were among the most profitable franchises in the NFL when Snyder purchased the team in 1999 — are at or near the bottom in multiple categories from ticket to merchandise revenue.

Bezos would obviously be in the best position to face some of these issues.

The NFL had hoped to have Washington’s ownership situation resolved by the owner’s meetings, which begin on March 26, but that doesn’t look possible for now.

However, as we’ve learned, things can change quickly. You hear multiple reports, and all probably have truth to them when initially reported, but the nature of this potential transaction is complicated.

Stay tuned.

A new potential bidder for the Commanders?

Another recent NBA owner could be interested in the Commanders?

We know that Philadelphia 76ers owner Josh Harris is among the favorites to acquire the Washington Commanders if owner Daniel Snyder sells the team, as many believe he will.

Last weekend, we learned of another NBA owner who was also interested in the team. Tilman Fertitta, the owner of the Houston Rockets, recently placed a bid on the Commanders, which was believed to be just above $5.5 billion.

While Fertitta isn’t believed to be one of the favorites, he remains one to watch.

On Wednesday, Charles Gasparino of FOX Business added another potential name to the mix. Marc Lasry, co-owner of the Milwaukee Bucks, is reportedly contemplating a possible bid on the Commanders.

Just this week, Lasry agreed to sell his portion of the Bucks to Cleveland Browns owner Jimmy Haslem and Haslam Sports Group for a reported $3.5 billion.

That’s pretty good timing if Lasry wants to add an NFL team to his portfolio.

Lasry, 63, is the co-founder of Avenue Capital Group. He is a private equity investor and hedge fund manager.

Thus far, Gasparino is the only one to report any possible interest from Lasry in the Commanders. Even so, he didn’t confirm Lasry would make a bid on Washington, only that it was a consideration.

Harris and Amazon founder Jeff Bezos remain the favorites to be the next owner of the Commanders.

Washington’s ownership situation is fluid, and it will remain that way over the next several weeks until the NFL owner’s meetings the last week in March.

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What is Daniel Snyder up to recently as Commanders owner?

What is Dan Snyder really up to?

Is Daniel Snyder really backing out of selling, or might he be attempting to raise the price?

Snyder not appearing for the season finale against Dallas when the greatest ambassador in the history of the Washington Redskins was being honored certainly seized the attention of many. Was it the conclusive sign that Snyder has checked out emotionally?

Sonny Jurgensen was perhaps the most popular player in franchise history, and all he did after playing was broadcast Redskins football for another 38 years. Yet, Snyder did not appear at Jurgensen’s jersey being retired? Nor was there any statement about Snyder being ill or why he was absent.

So if he indeed has checked out emotionally (which frankly he is free to do), what is Snyder up to now with revelations over the weekend that he prevented Jeff Bezos from the process of submitting bids to purchase the Commanders?

These are men with huge egos. Egos that know how to stonewall others, how to increase tension in the buyer’s mind etc. Might this not actually be a matter of Snyder being petty, as has been suggested over the weekend?

Snyder knows he insisted that the team should sell for $7 billion. He is 1.5 billion under that desired bid right now. Wouldn’t Snyder be embarrassed if the Commanders only sold for 5.5 billion?

The demand for this team is not what Snyder expected and desired. That has to be disappointing for Snyder. Secondly, there has not been the several bidders that were suggested, and there was no bid for $6.3 billion as earlier reported.

Perhaps Snyder is simply attempting to drive up the bids of the competitors? Perhaps Snyder is even attempting to drive up the desire of Bezos to purchase, and thus increase the odds that Bezos would increase his bid.

But Snyder does realize better than all of us that a new stadium is needed and that ticket receipts are way down. He, more than all of us, would know if his family is tired and willing to simply walk away from public scrutiny and public hatred of Daniel Snyder.

He might extend this a few more months than anticipated, but isn’t it probable that some fellow NFL owners have made it clear to Snyder that it would be best for Snyder if he were to make the sale?

Speaking of worth, how much would it be worth to Dan and Tanya to simply move out of the DMV, away from the fan base that dislikes him so?

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Does Jeff Bezos want the Seahawks more than the Commanders?

Is this all a game between Snyder and Bezos?

Is it possible that Amazon founder and owner of The Washington Post, Jeff Bezos, would prefer to own the Seattle Seahawks over the Washington Commanders?

In Albert Breer’s latest column for Sports Illustrated, he offered the following nugget on Bezos and the Commanders:

I’ve heard Amazon founder Jeff Bezos would be as interested, if not more so, in buying the Seahawks than the Commanders. So if Snyder’s set on boxing Bezos out of Washington, that certainly wouldn’t end the shot that Bezos becomes an NFL owner, as so many other NFL owners would like him to be.

Bezos’ interest in the Seahawks isn’t new. The billionaire has deep ties to Seattle, having founded Amazon in the Seattle area in 1994. Bezos has other ties to the area.

Of course, Bezos also has ties to the nation’s capital. He purchased The Washington Post in 2013, and his ownership of the legendary newspaper is why Commanders owner Daniel Snyder dislikes him. Snyder supposedly has sidelined Bezos from bidding on the Commanders.

While many reputable sources have indicated that Snyder has barred Bezos from being involved in the sale process, others have indicated Bezos remains very much alive. Why? Because of his vast wealth, he can offer Snyder much more than any other bidder.

Could this all be a cat-and-mouse game between Bezos and Snyder?

Thus far, Bezos has played this perfectly, whether he intends to bid or not. Because of his wealth, he didn’t need to be involved in the early bidding. As for Snyder, is he playing this out, naming a number and hoping Bezos matches that number so he’ll sell the franchise he’s owned since 1999?

While Bezos may be interested in the Seahawks, who currently aren’t for sale, but could be in the coming years, he could be using them as leverage for a bid on the Commanders.

Washington fans and other NFL owners fear Snyder will attempt to keep the Commanders, but all signs point to him eventually selling the franchise. The question is will it be to Bezos or someone else?

We should be set for a wild ride over the next four weeks.

Jeff Bezos reportedly interested in buying the Seahawks

Bezos has reportedly been banned from bidding on the Commanders. However, his path to the NFL may come through a team in the other Washington.

In a stunning tidbit of news, tucked deep in a report from Albert Breer of Monday Morning Quarterback, Amazon founder Jeff Bezos is interested in becoming the owner of the Seattle Seahawks.

Bezos, who founded Amazon in the Emerald City, has not been secret about setting his sights on the NFL. With Thursday Night Football streaming rights given exclusively to Amazon Prime, and being seen with NFL Commissioner Roger Goodell at games, it’s no surprise one of the wealthiest men on the planet would be interested in owning an NFL team.

The road to the NFL for Bezos likely won’t be through the Washington Commanders, as owner Daniel Snyder has reportedly banned Bezos from placing a bid on the franchise. Snyder apparently is still holding a grudge on Bezos since his newspaper, The Washington Post, reported on the toxic workplace in the franchise. However, another path to NFL ownership may present itself in the other Washington.

Breer mentions “Jeff Bezos would be as interested, if not more so, in buying the Seahawks than the Commanders” in his report. 

Currently, the Seattle Seahawks are owned by the Paul G. Allen Trust, which is managed by his sister, Jody. Eventually, the Seattle Seahawks and the Portland Trail Blazers are to be sold, as Paul Allen dictated his assets be sold off for philanthropy. Although Jody Allen has admitted a time will come when both the Seahawks and Blazers are sold, that time is not now. She has already rebuked a potential report regarding Nike founder Phil Knight wanting to purchase the Trail Blazers.

While Allen remains focused on guiding her teams to success, it may not be long before another Pacific Northwest mega-billionaire comes knocking on her door with an offer.