The latest report from Front Office Sports’ A.J. Perez says that “Dan Snyder and Bank of America — the bank handling the sale — have narrowed its list of billionaires interested in the team down. A source told FOS that [there are] two finalists: Philadelphia 76ers and New Jersey Devils owner Josh Harris, and Amazon founder Jeff Bezos.” This is big news as the sale is hopefully entering the final stages. This means that Houston Rockets owner Tilman Fertitta, who reportedly placed a bid of more than $5.5 billion, is out of the running to purchase the Washington Commanders. When his name was noted, it was said that he was not considered a frontrunner to purchase the team, and his Casino ownership would be an issue.
It also means that despite reports that Snyder was blocking Amazon founder, and Washington Post owner, Jeff Bezos from the sale process, he is not only in the running to purchase the team, but one of the two finalists. Perez reports that Snyder remains reluctant to sell to Bezos, whom he blames for the multiple investigations that have been started due to the Washington Post’s ongoing coverage of Snyder and the toxic workplace that he oversaw for over two decades.
Bezos is currently worth $115 billion, while Josh Harris’s net worth is listed as $6.3 billion. Bezos has the massive wealth needed to buy the team on his own, and then build the state of the art stadium that the team needs. He doesn’t have experience owning a sports team like Josh Harris, but has built an empire with Amazon. Harris’ net worth is concerning because he would need to likely have multiple minority owners to buy the Commanders which could be sold for more than $6 billion.
Sources tell @FOS that these are the options (in no particular order) for the future ownership of the Commanders:— A.J. Perez (@byajperez) February 28, 2023
Note: This is a very fluid situation. If it's the final bullet, you all know the ramifications. https://t.co/NxLeyhBqFO
A.J. Perez also wrote about the dreaded option of Dan Snyder deciding to keep the team because he won’t get the highly inflated price of $7 billion that he was reportedly seeking. If needed, however, NFL owners are expected to move forward with the unprecedented action of voting out a fellow owner. The Associated Press reported this morning that the owners plan to discuss Dan Snyder, the sale, and other related issues at committee meetings in Florida this month. Those meetings will happen before the annual owners meeting in Arizona in late March. That meeting could be pivotal if the sale of the team is finalized by then so the owners can vote to approve it, or if Snyder backs out of selling the team and another vote is needed.
Dan Snyder and the Washington Commanders have been getting a lot of bad press from the local and national media due to an almost daily barrage of stories involving the sale and Snyder’s petty actions. ESPN dropped a bombshell story yesterday that provided some details from the criminal case that is being built against Snyder for alleged financial crimes and improprieties. Snyder is accused of using the team as his personal piggy bank to live a lavish lifestyle that has left him a debt billionaire.
The three former minority owners of the team found a $55 million line of credit that they didn’t approve, and their questions and protests about that and other financial issues led to Dan Snyder buying their 40% stake in the team for $875 million. That buyout was facilitated by Roger Goodell, who also approved the line of credit. Additionally, the NFL approved a debt waiver that allowed Snyder to take out a $450 million loan for the purchase which must be repaid in 5 years.
The NFL is still conducting its second investigation into Dan Snyder and the team; this one is led by Mary Jo White. He has reportedly demanded indemnification from the league so he isn’t liable for future lawsuits and other issues that could come up after he sells the team. He also wants the results of the White investigation kept private, just as Goodell did with the Beth Wilkinson report. The NFL owners were angered by those demands, and have added them to the list of reasons to get rid of Snyder.
The NFL wants Jeff Bezos to enter the exclusive NFL owners club, and is more than ready to give Snyder the boot. Dallas Cowboys owner Jerry Jones is considered one of the most powerful voices in the league, and he has been a close ally of Snyder’s for decades. He is now reportedly trying to keep the peace between the owners, and working to get a sale done without forcing a vote. That would be the worst case scenario for the NFL and fans, and could drag on for a long time. The best case scenario is Jeff Bezos buying the team, and Dan Snyder fleeing the country on his superyacht.
Sell the team Dan.