Dan Snyder

Investors In Josh Harris’s Investor Group Identified

May 7th, 2023 at 6:28pm CST by Ely Allen

The wait continues for the eventual sale of the Commanders from current owner Dan Snyder to the group headlined by Josh Harris. As the days pass without a final resolution, we continue to learn more and more about the situation.

Particularly, we’ve continued to acquire information concerning the makeup of Harris’s group. Long rumored to be involved in the sale, basketball legend Magic Johnson was confirmed by Ben Volin of the Boston Globe to be a minority investor. Johnson is reportedly expected to be in for about four percent of the purchase or approximately $240MM. Co-founder of the Danaher Corporation Mitchell Rales was also confirmed to be involved, according to Mark Maske and Nicki Jhabvala of The Washington Post.

Another limited partner was identified to be South American billionaire Alejandro Santo Domingo and his family, according to Scott Soshnick and Eben Novy-Williams of Sportico. The Santo Domingo family is worth approximately $12.2BB thanks to a portfolio that includes the likes of Anhueser-Busch InBev, Chilean bank Corpbanca, and Spanish bank Inmobiliaria Colonial. They are believed to be the richest family in Colombia, and Santo Domingo himself has an estimated net worth of $2.8BB, according to Maske and Jhabvala.

Additionally, ex-CEO of Google Eric Schmidt has been confirmed as another investor in the group, according to Giles Turner and Heather Perlberg of Bloomberg. Schmidt’s net worth is estimated around $21.7BB by some sources and $18.1BB by others. Schmidt left Google in 2018 and Alphabet, Google’s parent company, a year later.

While all these names have been confirmed as participating, one name was confirmed as not investing. Despite some speculation that former Washington head coach Joe Gibbs would be joining the investment group, it appears his only involvement in the sale is on an advisory basis. According to John Keim of ESPN, Gibbs “is close to Harris and has provided insight/counsel.”

Latest On Dan Snyder, Potential Commanders Sale

May 4th, 2023 at 4:56pm CST by Adam La Rose

While hurdles remain to be cleared, the process of the Commanders being sold from Dan Snyder to the group led by Josh Harris continues to move forward. It includes unorthodox developments, but could reach a conclusion in the near future.

NFL officials are currently in conversation with Snyder’s representatives, as detailed by Mark Maske and Nicki Jhabvala of the Washington Post. The end result of those talks is expected to be a conditional acceptance of Harris’ $6.05 billion bid, which is nonexclusive and currently being vetted to resolve what are believed to be relatively minor issues.

This saga has played out much differently than the most recent team sale (Rob Walton purchasing the Broncos last summer) due to the outstanding legal troubles Snyder faces. He is still under investigation from the league, something which will produce a written report from Mary Jo White upon its conclusion, regardless of where the sales process stands at that point. Maske and Jhabvala add that White is expected to make one final attempt to speak with Snyder directly as part of her investigation.

With that – along with federal inquiries into alleged financial improprieties – hanging over Snyder, his presumed exit from the league is likely to occur in stages, per the Post. That could include approving the Harris bid while stopping short of formally ratifying it, as negotiations continue regarding Snyder’s protection from future legal action and the desire of other owners to do the same with respect to actions taken by Snyder himself.

Conflicting reports have emerged on the point of indemnification, something the league has been thought to be firmly opposed to. However, Snyder is no longer believed to specifically be seeking indemnity as part of the sales agreement (Twitter link via NBC Sports’ JP Finlay). How quickly an agreement can be reached on this front will no doubt go a long way in determining the timeline of Harris officially taking over as owner.

On that point, NFL commissioner Roger Goodell recently indicated, via Maske, that a sale could be finalized by the middle or end of May. The league’s finance committee is due to meet on May 10 and will review the remaining details to be worked out in the Harris bid before the next owners’ meeting 12 days later. If all goes well, that could be the point at which a ratification vote – which would require the approval of at least 24 owners – could take place.

As noted by A.J. Perez of Front Office Sports, that final step should not be in doubt. The NFL is treating the Harris bid “as if it’s a done deal,” he notes, adding the final approval by the league is considered “a lock” at this point. The Philadelphia 76ers and New Jersey Devils owner has backing from a number of other individuals, including NBA legend Magic Johnson and was a finalist to purchase the Broncos last year.

Canadian billionaire Steve Apostolopoulos said last month that he considers himself to still be in the running against Harris, and a late-emerging development could still alter the approval process given how fluid the situation remains. It appears, though, that the spring could mark the official end of Snyder’s tenure at the helm of the Commanders.

NFL To Review Dan Snyder-Josh Harris Commanders Sale Agreement

April 17th, 2023 at 7:49pm CST by Sam Robinson

7:49pm: Harris and Snyder’s agreement includes language that would partially indemnify Snyder for future litigation, Daniel Kaplan and Ben Standig of The Athletic report (subscription required). It is unclear how far this language extends, but the NFL has not yet approved the clause.

Embroiled in a few investigations since the House Oversight Committee wrapped its probe late last year, Snyder has sought indemnity from both the buyer and the league, per The Athletic. This could explain why there have not been any Snyder-driven complications since reports of talks with Harris surfaced last week. The league has been against an agreement that provided Snyder this sort of protection, but seeing as it has been widely reported the NFL wants the 24-year Commanders owner gone, this could be an interesting test on that road.

5:09pm: Although some uncertainty about who exactly will buy the Commanders surfaced this weekend, Josh Harris still looks to be the favorite. The Philadelphia 76ers and New Jersey Devils owner’s bid has been sent to the NFL for review, Sportico reports (on Twitter).

Harris is believed to have submitted a $6.05 billion bid for Dan Snyder‘s franchise. Former Duke basketball player (and Washington D.C. native) Brian Davis is believed to have come in with an unexpected offer of $7 billion and reported preparations to satisfy Snyder’s request for indemnification, but Harris, who is also a D.C.-area native, is by far the safer choice here.

The NFL vetted Harris during his pursuit of the Broncos last year, and while Rob Walton‘s $4.65 billion bid won out, Harris finished second in that race and is well-regarded by NFL owners. Monday’s development moves this process closer to completion, as Harris is not expected to run into any hurdles in clearing the 24-vote barrier to be approved as the next Commanders owner. Harris’ group also includes NBA legend Magic Johnson and billionaire Mitchell Rales.

Following the review, the next step will be for the league to send the papers back to Snyder and Harris for signatures or ask the parties to amend the agreement. Signatures would put this sale in position for a league vote, potentially as soon as the next round of owners’ meetings — set for May 22-24 in Minneapolis.

Until signatures emerge, however, the door remains open for other bidders to step in. Canadian real estate billionaire Steve Apostolopoulos remained in the running as of late last week, but Houston Rockets owner Tillman Fertitta said he would not raise his bid from the $5.6 billion place. Amazon founder Jeff Bezos‘ refusal to submit a bid looks to have accelerated this process, with a Harris acquisition appearing imminent hours later.

Not previously known to be involved in this pursuit, Davis either came in at the 11th hour or led the aforementioned mystery fourth ownership group. WUSA9 reported Davis is willing to indemnify Snyder — meaning he would assume any legal liability stemming from the investigations currently surrounding Snyder — and would pay the first billion within 24 hours. The remaining $6 billion, per WUSA9, would be paid out within a week. For now, at least, Harris still looks like the clubhouse leader.

Neither the Broncos nor the Panthers went to the highest bidder, with Albert Breer of SI.com noting the Pat Bowlen Trust passed on Harris’ $5 billion offer because the proposal could not be shopped. Walton had long been expected to top any bid that came in; shopping that offer would have likely put Harris to a decision on raising his price. Even though Ben Navarro‘s Panthers bid came in higher than David Tepper‘s, Jerry Richardson sold to Tepper, a former Steelers minority owner who sailed through the vote process.

Owners have shot down Snyder’s aim at indemnification, but that may well remain a wild card here. Snyder is still the subject of multiple investigations, including the NFL’s second probe into Commanders workplace misconduct and financial impropriety and an inquiry by D.C. Attorney General Brian L. Schwalb’s office. The latter investigation is ongoing, with the Washington Post’s Nicki Jhabvala indicating (on Twitter) a Commanders sale will have no bearing on the AG’s investigation into Snyder, Roger Goodell and the NFL. The NFL reversed course on releasing a public report in its first Snyder investigation, generating widespread scrutiny, but NBC Sports’ Peter King adds a sale will not change plans for the current Mary Jo White probe to include a summary of findings.

A desire for Snyder to be out of the league has led to the NFL’s silence regarding a potential sale thus far, King adds. Snyder has owned this franchise since 1999, buying it for $800MM. The embattled owner’s return on investment aside, his tenure has sunk the reputation of a three-time Super Bowl-winning franchise. The investigations of recent years — and the report of Snyder gathering dirt on Goodell and select owners — led to the prospect of a sale, a path Snyder had insisted he would not take. That journey now nears the end zone, though it is not yet final.

Josh Harris Raises Bid For Commanders; Brian Davis Still In Play

April 16th, 2023 at 12:41pm CST by Sam Robinson

APRIL 16: The fact that Snyder’s agreement with Harris is a non-exclusive one could be a factor as the sale of the Commanders nears its conclusion. Per Darren Haynes, Laura Wainman, and Erin Spaht of WUSA9, Washington, D.C. native Brian Davis has made a $7 billion cash bid to purchase the club. Davis would become the NFL’s first Black owner if his bid were to accepted.

The WUSA9 trio add that Davis is willing to indemnify Snyder — meaning he would assume any legal liability stemming from the investigations currently surrounding Snyder — and would pay the first $1 billion within 24 hours. The remaining $6 billion would be paid out within a week.

It is easy to see the appeal of such a proposal, and as of Thursday evening, Bank of America — which is handling the the sale offers — was still in communication with Davis.

APRIL 13, 7:15pm: The finish line appears in sight as Snyder has reportedly reached an agreement with Harris’ group to sell the team for $6.05 billion, according to Rapoport of NFL Network. Rapoport tempers the excitement a bit by pointing out that the agreement is not exclusive, meaning another bidder could theoretically still come in and bid higher for the franchise. The deal has been agreed to but is not yet official. Barring any snags in the process, however, Harris is expected to become the next owner of the Washington Commanders.

2:58pm: Harris looks to have increased his offer. The NBA and NHL owner submitted a $6.05 billion bid for the Commanders, Rapoport reports (on Twitter). This is expected to be the winning bid for the franchise. No papers have been signed just yet, and Adam Schefter of ESPN.com reports (via Twitter) Apostopoloulos is not completely out of the running. But Harris appears on the cusp of buying the team from Snyder.

This can be classified as a preliminary agreement, according to the Washington Post, and the Commanders are close to becoming the first American sports franchise to sell for more than $5 billion. This approximately $6 billion price will smash the record the Broncos set last year. Walton’s Denver offer obliterated the previous NFL record; Harris’ bid will be worth nearly triple what Tepper paid to acquire the Panthers in 2018.

12:48pm: Apostolopoulos has not bowed out of the pursuit yet. The Canadian billionaire real estate developer is believed to be in a “head-to-head race” with Harris, according to ESPN.com’s John Keim. Apostolopoulos joined Harris, Houston Rockets owner Tillman Fertitta and an anonymous group in bidding on the team.

Citing a recent Forbes valuation, Fertitta bid $5.6 billion as well, Jhabvala adds (Twitter link). Harris is not planning to increase his bid, and Fertitta does not sound like he will move much higher. No NFL vote on either Harris or Apostolopoulos will likely be held, per Keim, until the next round of owners’ meetings, which are set for May 22-24 in Minneapolis. But it does not appear the Commanders’ next owner is known just yet.

12:15pm: Less than 24 hours after reports indicated Jeff Bezos did not plan to bid on the Commanders, a sale is near the finish line. Josh Harris and Dan Snyder are nearing an agreement, Ian Rapoport of NFL.com reports (on Twitter).

Harris, who owns the Philadelphia 76ers and New Jersey Devils, bid $5.6 billion for the franchise, Mark Maske and Nicki Jhabvala of the Washington Post report. No terms have been submitted to the league, and Harris’ prospective purchase will still need to be approved by at least 24 NFL owners. Snyder has not informed the NFL he is selling just yet, but Maske adds (via Twitter) the hope is an agreement will be reached in the coming weeks. The approval part of a deal is expected to be a formality, with Harris having been vetted during his run at buying the Broncos last year.

This process, which began late last year when Snyder hired a firm to explore selling the team after 23 years as owner, looks to be close to the goal line. Sportico reports Snyder and Harris have agreed in principle (Twitter link). Harris’ ownership group includes NBA legend Magic Johnson and billionaire Mitchell Rales.

Snyder, 58, bought the franchise in 1999 for $800MM. Snyder’s ownership tenure has been roundly criticized, and scandals have engulfed him for years. The repeated investigations into workplace misconduct and financial impropriety moved a possible vote to remove Snyder from his post onto the radar. A sale, however, has always been the NFL’s preferred outcome. No owner has ever been voted out. Instead, Snyder looks to be stepping away on his own. Further pointing to an NFL exit, Dan and Tanya Snyder have since named England as their usual place of residence.

The embattled owner had insisted for years he would never sell the team. But investigations — including two by the NFL and one by the House Oversight Committee — overshadowed the final years of his tenure. A 2022 ESPN report that indicated Snyder had hired firms to collect dirt on some of his fellow owners, along with Roger Goodell, emerged just before sale rumors began. Snyder denied having done so, but sale rumors surfaced shortly after that denial.

Mary Jo White’s investigation is ongoing, but that probe — one that will lead to a written report of the findings, as opposed to the 2021 investigation which did not produce a report — is believed to be nearing a conclusion. Snyder, whom the NFL fined and handed a de facto suspension at the end of its initial probe, had previously demanded indemnification to protect him against further repercussions. Owners have shot down that demand.

From 1972-91, Washington appeared in five Super Bowls and won three. During Snyder’s ownership, the team has never advanced to the playoffs in consecutive years and has won 10 games in a season only three times. Snyder’s ownership tenure has never produced more than 10 wins in a season. Front office, coaching and quarterback instability have plagued the team. Should Harris indeed take over, his restoration task will dwarf the ones David Tepper or Rob Walton needed to complete.

Walton outbid Harris for the Broncos, but the latter remained on the ownership radar. He joined Canadian billionaire Steve Apostolopoulos in submitting record-setting bids late last month. Harris, 58, will end up paying over a billion more for the Commanders than Walton paid for the Broncos (an American sports-record $4.65 billion), but the NBA and NHL owner has moved close to entering the country’s most popular sports league.

Harris is a Chevy Chase, Maryland, native who bought the Sixers in 2011. His ownership group acquired the Devils two years later. Harris also owns English Premier League franchise Crystal Palace. In June 2020, Harris purchased a stake ($140MM, approximately 5%) of the Steelers. Tepper also bought an NFL team after having been a Steelers minority owner. Like Tepper, Harris will need to sell that stake before taking over in Washington.

The Oversight Committee’s investigation into Snyder and the Commanders wrapped late last year. Its report accused Snyder of permitting and participating in a longtime toxic workplace culture. Snyder is believed to have leaked the emails that led to Jon Gruden‘s Raiders exit, and the Committee accused the NFL in assisting the Washington owner in preventing the 2021 Beth Wilkinson probe from producing a written report. The forthcoming White report likely represents the next shoe to drop for Snyder, who is also being investigated by the office of Virginia’s attorney general. A lawsuit from the D.C. attorney general, one that also included the NFL, has accused Snyder of “colluding to deceive and mislead customers.”

Jeff Bezos Not Planning Commanders Bid

April 12th, 2023 at 10:00pm CST by Sam Robinson

Lurking as the potential top bidder for the Commanders, Amazon founder Jeff Bezos is no longer expected to pursue this purchase. Bezos has no plans to submit a bid for the NFC East franchise, Mark Maske and Nicki Jhabvala of the Washington Post report.

Dan Snyder‘s animosity toward Bezos notwithstanding, the bid the latter could have come in with would have certainly put him in strong position to buy the team. Many around the NFL expected a bid. Instead, this could pave the way for one of the ownership groups that have already entered the fray. Puck News’ Theodore Schleifer was first to report Bezos, 59, will not move forward in this process.

Groups headlined by Philadelphia 76ers owner Josh Harris and Canadian billionaire Steve Apostolopoulos have submitted bids. Harris, whose ownership group includes Magic Johnson, is viewed as the leader here, according to Schleifer. Harris’ bid checked in at approximately $6 billion, per the Washington Post. That does not hit Snyder’s $7 billion target, though SI.com’s Albert Breer notes the goal now may be closer to $6.5 billion.

It is not known if an agreement between Snyder and Harris is imminent, per Maske and Jhabvala, but Breer adds Harris is unlikely to raise his bid. Harris has already been vetted — due to his pursuit of the Broncos last year — and is believed to be well-regarded in ownership circles, per Breer. The NFL has shown little desire to hold a vote to remove Snyder as Commanders owner, despite steady rumblings of ownership’s dissatisfaction with Snyder’s behavior and the brigade of scandals engulfing him. But it would seem Harris, who also owns the NHL’s New Jersey Devils, would not have trouble being voted in by NFL owners. Twenty-four votes are required for an ownership transfer to commence.

A $6 billion sale would still shatter the record — set last year when Rob Walton bought the Broncos — for an American sports franchise, but Snyder has not fully committed to selling the team yet. A sale is expected, but it is not a lock. Removing a monster Bezos bid from the equation could provide a speedbump. Most around the league believe Snyder will sell, but Breer adds some nervousness exists the defiant leader will back out at the last minute. That could force owners’ hands, as Snyder remains ensnared in multiple investigations — including a second league-launched probe, which Mary Jo White has been leading for over a year — since the House Oversight Committee released its report.

No. 3 on the most recent Forbes list, Bezos has also been connected to a future Seahawks purchase. Not submitting a Commanders bid keeps that door open, though with the Seahawks not being for sale, Bezos not intending to submit a Commanders bid will keep him out of the NFL for the foreseeable future. Bezos has used a New York firm to evaluate a Commanders purchase, Maske and Jhabvala add. Snyder had previously blocked a Bezos path to Commanders ownership; his ownership of the Washington Post has rankled Snyder. As of March, however, Snyder was no longer believed to be dead-set against selling to Bezos. That appears a moot point now, and Harris negotiations may be on tap soon.

Commanders Likely To Be Sold In A Matter Of Weeks

April 2nd, 2023 at 8:20am CST by Rory Parks

Momentum towards a Commanders sale continues to build, with Jonathan Jones of CBS Sports reporting that owner Dan Snyder is likely to sell the franchise in the next one to three weeks. Although no Commanders-related matter was officially on the agenda at last week’s league meetings, Falcons owner Arthur Blank appeared to confirm that a sale is imminent.

“The league is doing whatever it can to help support the Snyders in this transaction and transition,” Blank said. “I saw [Snyder’s wife] Tanya [Snyder] this morning and wished her well, Dan as well. I think their family has moved to London, I believe. We’ll see what will happen. He’s a young man, his children are young, his wife’s young and they have a whole life ahead of them. I certainly wish them well.”

Indeed, as Nicki Jhabvala, Liz Clarke, and Mark Maske of the Washington Post reported in January, the Snyders recently filed a certificate of incorporation of a private limited company for Snyder UK Investments Limited with the registrar of companies for England and Wales. On that certificate, the Snyders — both of whom are listed as company directors — name England as their usual place of residence.

Furthermore, the Synders’ son, Gerry Snyder, is no longer on the Appalachian State football roster, and Jones reports that Gerry is not enrolled at the school this semester. Dan Snyder has cleared out his ownership offices and has put one D.C.-area estate on the market.

In addition to Josh Harris, Steve Apostolopoulos, and Tilman Fertitta, there is a mystery fourth bidder in the mix, according to Jones, although the identity of that bidder is presently unknown. While the most recent reporting on the matter suggested that Amazon CEO Jeff Bezos remains in play, Charles Gasparino of FOX Business Network says that Mark Cuban, the owner of the NBA’s Dallas Mavericks, has no interest in the Commanders (Twitter link). Interestingly, former Washington quarterback Robert Griffin III is interested in joining the Harris group, as the one-time face of the franchise said during a recent appearance on The Rich Eisen Show (via Madison Williams of SI.com).

Gasaprino also hears that reports of the Harris- and Apostolopoulos-led groups hitting the fully-funded $6 billion are a bit overstated. Instead, those bids come with contingencies, and the “real” number is actually closer to $5 billion (Twitter links). One way or another, Dan Snyder is going to realize quite a return on investment, as he purchased the club for $800MM back in 1999.

Another point to consider is that, regardless of the details of the final proposals, Dan Snyder does not have to sell the Commanders to the highest bidder, and can instead sell to the group he likes the most. For instance, Jones suggests that Snyder may not care for the fact that the Harris and Apostolopoulos groups have leaked reports of their ability to obtain the necessary cash for the purchase of his team when he himself has not even confirmed that the team is for sale. Similarly, the personal tension between Snyder and Bezos has been oft-cited as a reason why Bezos may not be able to acquire the franchise despite having the financial wherewithal to blow other candidates out of the water.

The pending sale also has some on-field ramifications. We had already heard about the delayed payouts of signing bonuses included in recent player contracts, and JP Finlay of NBC Sports Washington says that the status of DE Chase Young‘s fifth-year option could be impacted by the ownership situation (Twitter link). After a tremendous rookie campaign, Young sustained a torn ACL and patellar tendon in Week 10 of the 2021 season, which limited him to nine games that year and just three contests in 2022. However, because Young does have a Pro Bowl nod on his resume, his fifth-year option would check in at a fully-guaranteed $17.5MM.

A decision on Young’s option must be made by May 2. And, while the team is reportedly committed to 2022 fifth-rounder Sam Howell as its starting quarterback, head coach Ron Rivera said that a new owner’s viewpoints on the matter could alter the Commanders’ QB direction.

Josh Harris, Steve Apostolopoulos Submit Bids For Commanders

March 28th, 2023 at 1:14pm CST by Sam Robinson

Dan Snyder has not committed to selling the Commanders, but two bids that would break an American sports record have come in for the franchise. The groups headlined by Josh Harris and Steve Apostolopoulos have submitted fully funded bids hitting the $6 billion mark.

Although more issues are in play here, Adam Schefter and Brian Windhorst of ESPN.com note a growing belief has emerged Snyder will sell before the draft (Twitter link). It is unclear which bid is higher. No Commanders matter is believed to be on the docket at this week’s league meetings, Albert Breer of SI.com tweets, but it is a safe bet this topic will be among those informally discussed at the latest league gathering.

Harris finished second in the bidding for the Broncos, which the Rob Walton-fronted group won after submitting a then-record $4.65 billion bid. Magic Johnson has rejoined Harris’ group; the NBA legend was part of the Philadelphia 76ers owner’s group when it contended to purchase the Broncos. Houston Rockets owner Tilman Fertitta has also emerged as a potential bidder. A Canadian billionaire, Apostolopoulos was not part of the Broncos bidding. Another anonymous group has joined these in touring the team’s facility, per ESPN.

It will require 24 votes for either prospective owner to acquire the Commanders, though a vote is not expected to be the primary issue here. Engulfed in investigations, Snyder has pushed for indemnification as part of a sale. Colts owner Jim Irsay, who spoke out against Snyder during owners’ meetings last fall, came out against offering Snyder any sort of special protections in order to streamline his NFL exit, NFL.com’s Judy Battista tweets. NFL owners are not expected to allow Snyder indemnification.

Rumors emerged following Irsay’s fall comments that Snyder could sell part of the franchise, and he hired a firm to explore that possibility soon after. Snyder had long said he would never sell, but this process has moved down the road in the months since he and wife Tanya hired the firm. The Harris and Apostolopoulos bids have moved this process further along. Snyder is unlikely to fetch the $7 billion price he has sought, per NBC Sports’ Peter King, but these bids are still 7.5 times the price he paid to buy the team in 1999 ($800MM).

Amazon CEO Jeff Bezos still lurks here, and many around the league expect the Snyder rival to submit a bid the Harris- and Apostolopoulos-led groups refuse to top. Snyder is no longer believed to oppose a Bezos bid, FOX Business’ Charles Gasparino reports (on Twitter). Bezos bidding will obviously bring more intrigue compared to the two numbers that surfaced Tuesday, but he has yet to submit his own price.

The NFL’s second investigation into Snyder and the Commanders — one of a few the embattled owner has become embroiled in over the past few years — is ongoing. A full report is expected soon. Snyder has declined to be interviewed as part of the Mary Jo White-run probe, Mark Maske, Liz Clarke and Nicki Jhabvala of the Washington Post report. White will continue to pursue Snyder cooperation; this would not be the first time Snyder has attempted to evade providing testimony in an investigation. He did so last year amid the House Oversight Committee’s probe and declined to answer more than 100 questions when he did end up testifying. White’s investigation, which followed a league probe that did not produce a written report, has now run for 13 months.

Owners have paused any effort to remove Snyder from his seat, per the Washington Post. The NFL has never voted to remove an owner, and a sale will certainly be the league’s preferred outcome. This process is obviously far more complicated compared to recent sales involving the Broncos and Panthers, but the finish line may soon be in sight.

Latest On Commanders Bidders, Potential Sale Timeline

March 24th, 2023 at 6:59pm CST by Adam La Rose

With the NFL’s owners’ meetings approaching, attention is increasingly being turned to the potential sale of the Commanders. The shortlist of bidders in the running to purchase the embattled franchise appeared to be set, but a few notable changes have become clear in recent days.

Josh Harris’ bid has gained a noteworthy and familiar ally in the form of Earvin ‘Magic’ Johnson. The NBA legend has joined the Harris group, as first reported by Sportico’s Scott Soshnick and Eben Novy-Williams. It is unclear at this point how much capital Johnson could be contributing, but he has a long history of becoming a minority in other pro sports franchises.

The 63-year-old has a stake in the Los Angeles Dodgers, WNBA’s LA Sparks, as well as Major League Soccer club LAFC. Last offseason, Johnson became a part of Harris’ ownership group attempting to purchase the Broncos, which ultimately came up short on that occasion. The pair will now partner once again in their latest effort to join the NFL’s ownership ranks, though they will be facing increased competition.

Canadian billionaire Steve Apostolopoulos has joined the list of interested suitors to tour the Commanders’ facility and emerge as potential new owners, per ESPN’s Brian Windhorst, Adam Schefter and John Keim. That makes him the third known bidder, along with Harris and Houston Rockets owner Tilman Fertitta, who was identified last month as one of the finalists to purchase the team.

The ESPN reports notes that Apostolopoulos, a Harvard graduate whose personal net worth sits at an estimated $3.9B, had shown an interested in purchasing the Charlotte Hornets. Instead, he has now turned his attention to the NFL, and the possibility of being involved in what is expected to be another record-shattering sale in terms of total price if the Commanders are sold in full.

Lurking over this ongoing process, of course, is Jeff Bezos. The Amazon founder has long been considered the top name to watch amongst potential bidders, given his immense wealth and proximity to the franchise as owner of the Washington Post. The latter factor, along with the personal tension it has caused between Bezos and Commanders owner Dan Snyder, however, has been named as the top reason why Bezos has reportedly been blocked from participating in the bidding process to date.

As Ralph Vacchiano of Fox Sports tweets, though, many around the league still believe “it’s only a matter of time” before Bezos submits a bid the other suitors cannot compete with at the eleventh hour to secure ownership of the Commanders. For now, at least, he remains on the sidelines with respect to potential new owners, however.

The upcoming league summit has been floated as a time for a sale to become finalized, since it would require approval from the NFL’s other owners to earn ratification. While Snyder’s recent actions have led to reports of a sale being imminent, it might not be in place in time to be finalized by the end of the month, according to Nicki Jhabvala Mark Maske and Liz Clarke of the Washington Post. They nevertheless reiterate that Snyder is expected to sell “in the coming weeks or months,” so a resolution to this saga could be on the horizon.

Latest On Potential Commanders Sale

March 19th, 2023 at 3:55pm CST by Adam La Rose

As the March league owners’ meetings draw closer, the sense around the NFL continues to build that Dan Snyder‘s time as owner of the Commanders is coming to an end. His departure – either through a sale or an unprecedented vote forcing him out of his position – could be hinted at by the team’s recent financial decisions.

The Commanders have delayed the payouts of signing bonuses on their recent player contracts, as detailed by Ben Standig of The Athletic (subscription required). Typically, teams arrange contracts so that the first installment of sizeable payouts are scheduled to be doled out within a few weeks of the contracts becoming official. As Standig notes, Washington has followed this standard practice with deals signed in previous offseasons, including left tackle Trent Williams, defensive tackle Jonathan Allen and wideout Terry McLaurin.

However, the team’s monster extension with Daron Payne, which was signed not long after they applied the franchise tag on him, calls for his first signing bonus payment to be delayed until May 12, per Standig. That date marks exactly two months after the deal was agreed to, and, more notably, is likely to come after a new ownership group is in place to take on the Commanders’ financial responsibilities, including payroll. The same holds true for Washington’s deals with right tackle Andrew Wylie and quarterback Jacoby Brissett.

“Relative to their prior contract precedents, it would seem that they have intentionally delayed the first installment of their signing bonuses,” one former team employee said in an observation of the situation. “[It’s] very plausible that it’s related to the expected timeline of a sale… I think the payout dates are fairly telling.”

The possibility of a vote forcing Snyder out was a talking point during the 2022 season, with Colts owner Jim Irsay noting in October how such a move was on the table. Bidding on the embattled franchise has since taken place, with a shortlist of fellow pro sports owners Josh Harris and Tilman Fertitta being named as potential finalists. Amazon founder Jeff Bezos remains connected to a potential purchase, though reports have pointed to him not being allowed to participate in any hypothetical sales process.

Adding to the recent report that a Commander sale is imminent, NBC Sports’ JP Finlay tweets that the situation now metaphorically sits at ‘first and goal.’ The league’s owners are set to meet next week, so further developments on this front could be coming very soon. As the team’s contract arrangements this offseason suggest, an ownership change remains the likeliest end to the situation in Washington.

Latest On Potential Commanders Sale: Snyder, Owners, Harris

March 16th, 2023 at 9:52pm CST by Ely Allen

The Dan Snyder era in Washington may be on its last legs, according to Mike Florio of NBC Sports. Sources have said that the word being used to describe the sale within the facilities is “imminent,” leading some to speculate about just how soon this all may come.

Assisting in this theory is the rumor that Snyder and his wife, Tanya, have reportedly cleared out of the Commanders’ facility in anticipation of the sale. The departure occurred back in late December, a bit over a month after the couple announced they were considering a sale. The announcement was followed by the process of drawing in bidders, but despite that process, many in league circles have been skeptical that the Snyders seriously intended to sell.

This new evidence may bring a bit more validity to Snyder’s claims of consideration. That being said, there is no confirmed purchasing group at this time. As many as three different prospective buyers have toured the facility and stadium, but the organization refuses to comment on the potential sale.

Here are a few other rumors surrounding the potential sale of the Commanders:

A committee meeting took place recently including some of the league’s owners. According to Mark Maske of The Washington Post, a decision still has not been made concerning the prospect of taking a vote to remove Snyder from ownership should he refuse to sell the team. Snyder’s wife continues to represent the Commanders in league meetings, an arrangement put in place following attorney Beth Wilkinson’s investigation into Snyder and the team. There’s been no reports that she has addressed the owners, and members of the owners’ finance committee claim that they have heard no specifics on a potential transaction.
One of the potential bidders rumored to be in the running to buy is Philadelphia 76ers owner Josh Harris. According to Adam Schefter of ESPN, Harris’s bid was recently bolstered by the addition of DC billionaire Mitchell Rales. Rales is the co-founder of the Danaher Corporation, the largest company in Washington.

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