Tag: Team Sale

Jason Wright on Commanders’ sale: ‘I just want it to be done’

So do Washington fans.

Washington Commanders team president Jason Wright spoke with reporters this week at the NFL owners meetings. Wright went on record to say, yes, the Commanders were being sold.

“I don’t know what indicators they’re giving that they’re not (selling the team),” Wright told The Washington Times. “What signal are they giving that they’re not selling the team?”

Later in the interview, Wright said the Commanders would receive a “significant boost” from selling the team. While some took that as a shot at owners Dan and Tanya Snyder, that’s not what Wright meant. Anytime you sell a franchise, it should be good for business, at least initially. In Washington’s case, it should be even more significant.

Not only does the potential new owner come in as a popular man because he’s replacing Snyder, but relationships that were previously over are also now back on the table. One of those relationships could be with the Washington, D.C. government. The new owner will likely work to build a new stadium in Washington. There are also the corporate sponsors who abandoned the Commanders under Snyder; they may now come back with new leadership.

In a one-on-one interview with JP Finlay of NBC Sports Washington and 106.7 The Fan, Wright said he just wants the process to be over.

“I just want it to be done, and I think that’s what everybody else would like to, including Dan and Tanya, Wright told Finlay when discussing two of Washington’s potential new owners. “I think this is a process that when there are speculative reports, they tend to slow down the process.”

It’s interesting to hear Wright say Dan Snyder even wants this to be over with. He’s come a long way from saying he’d never sell the franchise he loved as a child.

 

Jason Wright talks Commanders’ sale

Wright said the sale will be a boost for the Commanders.

It’s not a secret that the Washington Commanders are for sale. However, you’d have to be in the position of Washington fans to understand why they are a little hesitant to believe a sale will actually happen — until it happens.

At the NFL owners meetings this week, Washington president Jason Wright spoke to Matthew Paras of The Washington Times and confirmed that, yes, Daniel Snyder is selling the Commanders. 

“I don’t know what indicators they’re giving that they’re not (selling the team),” Wright said. “What signal are they giving that they’re not selling the team?” 

There you go, Washington fans. 

At this point, most fans realize a sale is happening. There is really nowhere for Snyder to go at this point since it was revealed in November he had hired Bank of America to explore potential transactions of the team. It’s not just the multiple investigations, but there will never be a new stadium under his ownership. 

Wright also said that Snyder selling the team would provide a “significant boost” to the Commanders. Per Paras, that will initially impact the business side. 

“When there’s an ownership change, we’ll be able to absorb the momentum of that,” Wright said. “They know that. I’m not saying anything that Dan and Tanya don’t know.” 

No, Wright wasn’t throwing his current bosses under the bus, only stating a fact. The Commanders will benefit from an ownership change on multiple fronts. 

Wright saying the Snyders are selling the team is the first public acknowledgment from Washington management that the team is being sold. Head coach Ron Rivera did mention it Tuesday during his meeting with reporters at the NFC coaches breakfast. 

There is still no timeline for when a sale will be announced.

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.

 

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.

A new owner for the Commanders at next week’s league meetings is ‘unlikely’

Not to worry, it is coming.

Social media was going wild last Saturday night, speculating that Dan Snyder had officially sold the Washington Commanders.

Not only did “$8 Twitter” take turns saying they had sources, other media members who cover the team — or have covered the team — hinted they’d heard positive things about the potential sale.

As it turns out, it was much ado about nothing. The team denied some of the “reports” on Twitter, and none of the tops NFL news breakers said a word about the Washington sale.

While the Commanders haven’t yet officially been sold, the prospective frontrunner, Josh Harris, added another investor to his bid in NBA legend Magic Johnson.

On Tuesday, Albert Breer of Sports Illustrated offered some insight into the sale. The owner’s meetings that begin next week were believed to be the targeted time for a resolution to the Washington ownership situation. However, that appears unlikely per Breer.

I don’t think the Commanders will have a buyer to present to the league next week at the annual meeting. It could happen if things accelerate this week, but that seems unlikely.

Washington fans shouldn’t let Breer’s report get them down, as he followed up the above statement with some encouraging information.

That doesn’t mean it’s not coming, though. The likelihood at this point is there will be news on the Commanders ownership front at the NFL’s spring meeting in Minneapolis in May. And all signs inside team headquarters point to the transition being well underway.

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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Who is DC billionaire Mitchell Rales?

Mitchell Rales reportedly joined Josh Harris in his bid for the Washington Commanders.

It’s been a frustrating week for those wanting information on the sale of the Washington Commanders. A Washington Post report from earlier in the week suggested that some NFL owners were skeptical about owner Dan Snyder selling the team and that Snyder hadn’t updated the NFL or other owners on the sale process.

On Thursday morning, Adam Schefter of ESPN provided the following update:

Mitchell Rales, the co-founder of Danaher Motion, was joining Josh Harris’ bid to buy the Commanders. Both Rales and Harris are worth north of $5 billion each.

This was a smart move by Harris for multiple reasons. While there were some questions about his liquidity, that is not a concern if he’s partnered with Rales. Also, having someone as connected as Rales in Washington can help get the RFK Stadium location back on the table for the Commanders if Harris and Rales win the bid.

Who is Rales?

 

Commanders’ sale is reportedly ‘looking good’

Snyder reportedly told some owners there are multiple bidders for the Commanders, and things are looking good. A new report followed that the NFL wants final bids soon.

When Adam Schefter broke the news Thursday that DC billionaire Mitchell Rales had joined Josh Harris in his attempt to buy the Washington Commanders, we finally had some news on the sale.

This was a positive development for Washington fans, who’ve grown increasingly impatient with the sale process. While this latest news doesn’t mean Harris and Rales are buying the Commanders, it certainly sounds like they’re deep in the process.

On Thursday evening, Mark Maske and Liz Clarke of The Washington Post reported that Snyder had been in contact with his fellow owners and had some positive news.

Snyder and the Commanders have communicated to the NFL’s team owners that there are “multiple bidders” for the franchise whom the owners and the league will “love” and that the sales price “is looking good,” a person familiar with the NFL’s inner workings and the views of the owners said this week.

While that qualifies as positive news, some are still hesitant that Snyder will willfully sell the Commanders, especially if he doesn’t receive indemnification from the NFL and other owners against future legal liabilities and costs.

Later Thursday night, Charles Gasparino of FOX Business sent out the following tweet:

Gasparino has been reporting on the Commanders’ sale for weeks.

If you consider both reports, it does align with what the NFL wanted all along: Resolution by the NFL owner’s meetings, which begin on March 26. But with so much changing daily, conflicting reports could come out over the weekend that temper expectations yet again.

The new NFL league year opens next week, and head coach Ron Rivera has stated it will be business as usual for the Commanders.

We’ll continue to follow this story.

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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.