Tag: Sell the Team

An interested buyer has emerged if, or when, Gayle Benson sells the Saints

An interested buyer has emerged if, or when, Gayle Benson sells the New Orleans Saints. Houston Rockets owner Tilman Fertitta wants to expand his portfolio:

This is certainly worth filing away for later. An interested buyer has emerged if, or when, Gayle Benson sells the New Orleans Saints. The NBA’s Houston Rockets owner Tilman Fertitta wants to expand his portfolio.

“I’ve always loved the New Orleans Saints, but (Benson) won’t sell them right now,” Fertitta told the Houston Business Journal’s Chandler France. He clarified that there hadn’t been an exchange of formal offers or anything official, but he’s made his interest known.

And, he added, the Saints are not currently for sale. Benson’s will instructs team president Dennis Lauscha to take on the role as executor of the estate and overesee the sale of the team. If he’s unable to do so, it would fall on general manager Mickey Loomis and longtime executive Greg Bensel to see it through. She also stipulates that the team’s next owner must keep the team in New Orleans.

Benson, 77, has no heirs and has shown every indication that she intends to run the team for the rest of her life, which is why this succession plan has been made public. But it’s always possible she could change her mind and agree to sell it sooner. If that’s the case, we could see the Saints go for as much as $6 billion — that was the winning bid for the Washington Commanders, a contest in which Fertitta’s reported $4.4 billion offer fell short.

It wouldn’t be ideal for an out-of-state owner to be running the Saints, but so long as the team remains in New Orleans, we’ll take it. At least Fertitta has experience owning a pro sports team before with the Rockets. Just don’t expect him to be the only suitor when the Saints do eventually go up for sale. The NFL is a lucrative business and with team values continuing to skyrocket, some big names could be in the mix when that day comes.

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Commanders’ Rivera feels ‘everybody is coming together’

Rivera is pleased with the team’s mindset heading into Thursday night.

Ron Rivera really liked how his players put the Buffalo fiasco behind them quickly.

“The execution was really good, I thought at times and so I think that really spoke well to the guys practicing, preparing all week coming off of the Buffalo game. I thought the guys came in and had a really good Wednesday.”

Rivera also thinks new offensive coordinator Eric Bieniemy is still getting to know his offensive personnel and they are still learning the new offensive system.

“I think a lot of what’s happening is everybody’s kind of still learning. We’re still in that phase. I mean, you can say all you want about having OTAs, minicamp, training camp, preseason games, but now with the actual games itself, now you know exactly what you got, what you’re doing out there and you feel as if everything’s coming together”

One calendar year can be significantly better. You recall last year, the Chicago game in Week 6 is when Washington fans showed up in Chicago wearing bags over their faces, and many chanting, “Sell the team.”

Rivera said he feels “Very fortunate. Things have changed, and it’s been different. It’s been refreshing…It’s one of those things that we’re very fortunate to be where we are. What Mr. [Josh] Harris and his group have brought has been very different, and it’s allowed me, it’s allowed us, to keep the focus on football, the players, as it should be and what we do on the field.”

As the team couldn’t wait to get on the field against the Eagles, turning the page from the Bills embarrassment, Rivera is hoping the team wants to turn the page from the Eagles to the Bears exclusively.

“…I’ve tried to talk to as many of the players as I can and just touch bases, see where everybody is, and the responses have been terrific. They really have. They’ve been tremendous. There’s a sense of eagerness right now. You know, it’s funny; I felt that on Wednesday, and I know I told you guys last week that I thought we had a good Wednesday. I felt that way about yesterday, coming in, and just in less than 24 hours, they were back here, and you know, there is this little bit more maturity, I think, and kind of in a really good way.”

Magic Johnson releases statement after Josh Harris group reaches deal to buy the Commanders

Magic Johnson is “so excited” to become part owner of the Commanders.

The NFL world was buzzing Friday afternoon around the end of the day when NFL insider Ian Rapoport sent out the following tweet:

Josh Harris had reached a deal with Dan and Tanya Snyder to buy the Washington Commanders. The two sides agreed to a deal in principle last month, but this one is signed and binding. The only thing keeping Harris and his group from becoming the next owners of the Commanders is a vote by the other NFL owners. Harris needs 24 votes to confirm his ownership, and, as expected, that will not be a problem.

One of Harris’ partners, NBA legend and successful businessman Earvin “Magic” Johnson, released a statement.

Washington fans were fired up. Not only because of Snyder selling the team, but Magic Johnson is a beloved figure, and he’s also experienced success with pro sports ownership, as has Harris.

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Washington legend Gary Clark thinks change will be good for current players

Gary Clark talks about what ownership change could mean for current players.

Gary Clark is one of the greatest players in Washington’s franchise history. In his eight years with the then-Redskins, the former JMU Duke caught 549 passes for 8,742 yards and 58 touchdowns. Clark was a member of two Super Bowl championship teams and was one of the NFL’s best wide receivers during that era.

Since his retirement, Clark has been a successful businessman but has always remained a fan of his former team, regardless of the name. Clark is always among the most prominent when the Commanders invite back former players for alumni events.

On Thursday, Olivia Garvey of ABC 7 reached out to Clark to hear his perspective on owner Daniel Snyder reportedly agreeing to sell the NFL franchise to Josh Harris.

Clark believes the current players will benefit the most.

“As a player, I’d be excited because now I’m going to see what’s in the stands, what’s in the seats,” Clark said. “And that’s always important, you know. Having a 12th man being a part of your ritual when you go out to play is huge. Honestly, the players haven’t had a chance to truly see how the Washington fans treat them when you are successful at your job. And once they see that excitement, they think they have it good now; when you win in this town, you truly have it good.”

Clark has never been a former player who openly criticized Snyder or the organization, choosing instead to always cheer for his former team. He certainly appears excited about what’s ahead.

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A new poll shows steep drop in popularity for the Commanders over the past decade

New ownership will have its hands full.

The potential sale of the Washington Commanders has heated up in recent weeks. On Tuesday, Adam Schefter reported two possible ownership groups had submitted bids of $6 billion for the Commanders: The Josh Harris group, which features Mitchell Rales and Magic Johnson, and Canadian billionaire Steve Apostolopoulos. Both bids are fully funded.

Whoever buys the Commanders will inherit many of the problems plaguing the franchise under Daniel Snyder’s disastrous ownership.

Perhaps the most significant problem is a fan base that is apathetic or, in some cases, nonexistent.

The Washington Post, in partnership with the Schar School, recently conducted a poll of Washington-area residents on which of the area’s pro sports teams was their favorite.

Before we show the results, remember this would’ve been a silly question 25-30 years ago. The Washington area was defined by the then-Redskins and whether they won or lost. As many older fans have said, the mood of the city reflected on Washington’s previous game.

Unfortunately, that was a long time ago.

Check out this graphic, courtesy of The Washington Post-Schar School.

In 2010, 31% of area residents still considered the NFL team their favorite team. Far more than any of the other pro sports teams in the District. Now, in 2023, only 15% say the Commanders are their favorite, behind the MLB’s Nationals and surprisingly ahead of the NHL’s Capitals.

The Capitals and Nationals won world championships in 2018 and 2019, respectively. The Caps have been DC’s most successful sports franchise of the last 20 years, thanks to superstar Alex Ovechkin.

Per The Post, the poll surveyed more than 1,600 residents of D.C., Maryland and Virginia.

Here is some other information from the poll:

  • 1 in 3 residents that have supported the Commanders no longer do
  • Among current and former fans, almost half say they are less interested in the team than they were 10 years ago
  • 56% of responders say Snyder is the primary reason for their waning interest

With Snyder likely selling the team, the new owner will have built-in goodwill that no other new sports owner would receive. However, work will have to be done to win back older fans and create new fans. Obviously, a good product on the field helps things, but fans have grown tired of all the controversies surrounding Snyder. And this was long before the multiple investigations into him and the organization began in 2020.

There’s also the disaster that is FedEx Field. There’s hope that a new ownership group can get a stadium built in Washington, D.C.

Another issue for longtime fans is the name change. Regardless of how some feel about it, some cannot get attached to the current team because it truly feels like an expansion team. How does that change? For as much talk as there is on social media about changing the name again, that’s not going to happen.

It will be interesting to see how fans respond once Snyder eventually sells the team. If the team wins and avoids any PR disasters off the field, Washington can slowly begin to rebuild a fractured and tortured fan base.

 

WATCH: Fans in DC started an anti-Dan Snyder chant at an XFL game

Audi Field in Washington, D.C., is quite the atmosphere.

The D.C. Defenders improved to 3-0 Sunday with a 34-28 win over the St. Louis Battlehawks at Audi Field in Washington, D.C. It was another fantastic atmosphere that saw plenty of the Defenders’ famous beer snake in the crowd.

In addition to the beer snake, there was a Dan Snyder chant at Audi Field. As you might expect, it wasn’t a supportive chant for the embattled owner of the Washington Commanders.

[Warning: video contains explicit language]

Here’s another video of the anti-Snyder chant.

The Commanders remain for sale, but last week featured multiple developments. The week began with a Washington Post report stating that Snyder wanted fellow owners and the NFL to indemnify him from future liabilities and costs if he sold the team.

The following day, Don Van Natta Jr. of ESPN  released a bombshell report that traced Snyder’s falling out with his former minority partners. Van Natta had access to documents highlighting a $55 million loan Snyder received from Bank of America without the knowledge of his former partners.

The NFL owner’s meetings begin on March 26, and the league hoped to have clarification on Washington’s sale by that time. However, last week’s developments created a lot of uncertainty.

As for the XFL fans at Audi Field, they continue to show Commanders’ fans the blueprint to a fun, home-field environment in the nation’s capital, something old-school fans know all too well during the franchise’s glory days at RFK Stadium.

Report: Commanders owner Dan Snyder wants legal protection if he sells team

Dan Snyder allegedly makes demands to the NFL and fellow owners.

We knew things would get interesting regarding the potential sale of the Washington Commanders once the Super Bowl ended. While the first week was slow, business has picked up over the last several days.

There have been multiple new reports recently, from owner Dan Snyder locking out Amazon founder Jeff Bezos from bidding to him telling saying he may not sell if he doesn’t get $6 billion.

On Monday afternoon, Mark Maske, Nicki Jhabvala and Liz Clarke of The Washington Post reported that Snyder wants the NFL and fellow owners to indemnify him against future legal liability and costs if he sells the Commanders.

Snyder threatened to sue if the indemnification condition isn’t met, which angered other owners and allegedly renewed the discussion for them to vote to remove him as Washington’s owner.

“He wants indemnification if he sells,” one of those people said, adding that the owners regard the demand as “ridiculous” and “absurd” and believe Snyder should provide legal indemnification to the other owners for any legal claims that may arise from his and the team’s actions.

The owners “definitely” would move toward a vote to remove Snyder from ownership of his team if he does not sell the franchise, that person said. Such a vote would require support by at least three-quarters of the owners. The other person who confirmed Snyder’s demands added that the dispute “could get messy.”

Per The Post, the Commanders and the NFL declined to comment. 

Included in the report, Cowboys owner Jerry Jones is attempting to convince Snyder to sell the team to prevent any further issues between Snyder and the league.

This comes after it was revealed that Houston Rockets owner Tilman Fertitta recently placed a bid on the Commanders, joining Philadelphia 76ers and New Jersey Devils owner Josh Harris as known bidders. 

We’ll continue to follow this story.

Dan Snyder wants $7 billion for the Commanders

Will Snyder get $7 billion for the Commanders?

Earlier on Wednesday, FOX Business Network’s Charles Gasparino reported that the sale of the NFL’s Washington Commanders would come “weeks” after the Super Bowl and before the NFL owner’s meetings late next month.

On Wednesday night, A.J. Perez of Front Office Sports reported that perhaps one factor that could be slowing down the sale of the Commanders is owner Dan Snyder’s asking price.

One factor for the lack of news: Snyder appears to be holding out for a $7 billion bid for the franchise, two sources with knowledge of the process told FOS.

Remember, there was said to be some disappointment after the first round of bids topped out at a reported $6.3 million. However, that first round of bidding did not feature Amazon founder Jeff Bezos. Bezos’ lack of an opening bid didn’t mean he wasn’t interested in the team. If Bezos truly wants the Commanders, no one could compete with him, so Bezos not submitting an opening bid was a strategic move.

Gasparino said Wednesday that Bezos remains interested in the Commanders and will submit a bid once all the initial bids are in.

To put Washington’s potential sale into perspective, the Denver Broncos sold for $4.7 billion last year — $1.6 less than the Commanders’ reported high opening-round bid. That was a worldwide record number for a sports franchise. Washington will blow that number out of the water.

There’s also the potential that Snyder doesn’t want to sell to Bezos. It’s been reported that the Snyder family detests Bezos as Bezos’ paper, The Washington Post, initially broke the toxic workplace scandal story in 2020.

Here’s this from Perez:

While there are no indications Amazon founder Jeff Bezos has put in a bid, one source told FOS that Bezos could be the among the only potential suitor willing to pay close to $7 billion.

The rub is Snyder’s apparent unwillingness to sell to Bezos, who owns The Washington Post. The outlet exposed the toxic workplace claims and detailed a previously unknown harassment claim against Snyder in 2009. Snyder denied the allegations of harassment.

If Bezos does indeed bid on the Commanders and reaches the $7 billion mark or comes close, it’s difficult to believe Snyder would turn down that type of money. However, Snyder has proven in the past he can hold a grudge.

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Report: Dan Snyder plans to sell ‘majority stake in the’ Commanders

it doesn’t mean that Snyder isn’t selling the entire team.

We finally have some confirmation that Washington Commanders owner Daniel Snyder plans to sell the team.

A.J. Perez of Front Office Sports reported Tuesday that bidders for the Commanders have been told that Snyder plans to sell “a majority stake in the team.”

“They know he’s selling at least a majority stake in the team,” Perez’s source said.

What’s interesting is many believe Snyder will sell the team. When it was revealed in November that Snyder had hired Bank of America to “explore potential transactions” with the franchise, many were skeptical. Some believed Snyder wanted to add a minority partner for cash flow purposes.

However, any transaction would need to be approved by the 31 other owners, and it’s doubtful that strategy would have worked.

Bank of America accepted a first round of bids last month that came in a bit disappointing, Perez reported over the weekend. None of the first round of bids exceeded $6.3 billion, and Amazon founder Jeff Bezos did not submit a bid.

That doesn’t mean Bezos is out of the running. Many believe Bezos didn’t want to come out with a strong offer because if he genuinely wanted the franchise, no one could match his offer. That would be Bezos essentially bidding against himself.

Perez included this nugget in his latest report.

And while he has yet to fully enter the bidding, sources told FOS that Bank of America continues to court Bezos — even if there are indications that Snyder doesn’t want to sell to the second-richest person in the U.S.

Perez and JP Finlay of NBC Sports Washington have reported that Snyder prefers not to sell the franchise to Bezos because of his disdain for The Washington Post, which Bezos owns. However, with Bank of America continuing to court Bezos, anything is possible.

Finlay did say his sources believe the sale will be complete in March and that Josh Harris was a name to watch.

Fans and coaches would prefer to have the sale over before the new league year begins on March 15 so the Commanders would have clarity ahead of free agency.

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Todd Boehly making a ‘very strong push’ to buy the Commanders

Boehly is a local native and has plenty of experience owning professional sports franchises.

All is quiet regarding news of a potential sale of the Washington Commanders. Last month, the first round of bids for the Commanders were due, but nothing was revealed regarding who put in a bid. However, while names weren’t disclosed, there were some impressive bids for the Commanders.

Scott Abraham of ABC 7 in Washington says one of those names is Bethesda native Todd Boehly. Boehly was on the initial list of prospective bidders back in November when it was initially announced that owner Daniel Snyder was exploring potential transactions with the team.

In addition to being a Maryland native, Boehly has deep ties to the sporting world. Boehly is part owner of the Los Angeles Dodgers, Los Angeles Lakers and the WNBA’s Los Angeles Sparks. Last year, the 49-year-old led a group that purchased the Chelsea Football Club of the Premier League.

Boehly was a member of the Forbes 400 list in 2022 with a value of $5.3 billion.

Outside of sports endeavors, Boehly co-founded the holding company Eldridge in 2015. Boehly has also invested in multiple companies and sits on the board of several organizations.

Boehly partnered with Clearlake Capital in their purchase of Chelsea. The interesting aspect of that partnership is Clearlake Capital has also been rumored to be interested in the Commanders. Behdad Eghbali and José Feliciano, co-owners of Clearlake Capital, attempted to buy a minority share of the Commanders for $900 from Snyder’s former partners, which he rejected.

Clearlake Capital also attempted to buy the Denver Broncos last summer. It isn’t known if they were among the first round of bids for the Commanders.

The Commanders are expected to be sold for $7 billion or more.

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