Two More Moguls Join Jeff Bezos in the Billionaires Race to Acquire the Washington Commanders
Just a few months back, the Denver Broncos were sold for a record-setting $4.65 billion to a group led by Walmart heir, Rob Walton, and his close associates. It is a record sum for a North American sports team. Just a few months on, it looks as though that record is about to be broken by over a billion dollars as reports suggest Daniel Snyder will consider bids in the range of $5.6-6 billion for his team, the Washington Commanders.
Who is going to buy the Washington Commanders? (@betonline_ag)
Jeff Bezos (+200)
Josh Harris (+300)
Mat Ishbia (+400)
Robert Smith (+500)
Byron Allen (+600)
Larry Ellison (10/1)
Michael Dell (12/1)
Steve Pagliuca (15/1)
Jay-Z (15/1)
David Blitzer (20/1)
Clearlake Capital (25/1)— Jaime Eisner (@JaimeEisner) November 4, 2022
Snyder purchased the team for a mind-boggling $800 million in 1999. At the time, it was a record for the most expensive purchase for a sports team not just in North America but in the world. 23 years later, if things go according to plan, Snyder will walk away with over $5.6 billion.
Daniel Snyder has said he would never agree to sell the Washington football team. He also said he’d never change its name. Things change. pic.twitter.com/eQyLv703Pw
— Neal Augenstein (@AugensteinWTOP) November 2, 2022
Over the past few years, the pressure from the fans as well as fellow NFL owners increased drastically to force Snyder to let go of his beloved team. A series of allegations of financial fraud, and sexual misconduct among other things have tarnished Snyder’s tenure as an owner. Not to mention the team has not participated in a single Super Bowl, let alone win it during his time as the owner.
Daniel Snyder preparing to bank $6B by being one of the worst owners ever is not particularly satisfying.
— Damon Amendolara (@DamonAmendo) November 2, 2022
While Snyder was reluctant at first, it seems as though he has decided to part ways after enlisting the help of the Bank of America to facilitate a sale. Needless to say, Snyder will walk away only if he gets the exact amount he wants and will not settle for anything less.
Billionaires race to acquire the Washington Commanders
Acquiring a team for $5.6 billion is something that very few people in this world can do. Even then, a number of buyers are lining up to snap up a team in the NFL. Earlier this week, reports came out that Amazon founder Jeff Bezos was interested in buying the team. But it seems as though Bezos will have stiff competition.
Mat Ishbia, who pursued the Broncos, also plans to pursue the Commanders. He said in a statement, “The NFL is a great league and Washington is one of the elite franchises. I am interested in exploring this opportunity further in the very near future.”
Ishbia is the president and CEO of president United Wholesale Mortgage. He has an estimated net worth of $4.7 billion. He’ll need to be able to essentially write a check for 30 percent of the purchase of the team. If it’s $5 billion, he’ll need $1.5 billion. If it’s $6 billion, he’ll need $1.8 billion.
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