Jeff Bezos Takes Step Towards Buying Washington Commanders
Jeff Bezos, the world’s third-richest person according to Forbes, has taken a major step towards buying the Washington Commanders from owner Daniel Snyder. He has hired New York-based investment firm Allen & Company to “evaluate a possible bid”, as reported by Mark Maske, Nicki Jhabvala, and Liz Clarke of the Washington Post.
Bezos, who is worth an estimated $119 billion, is likely the only bidder who could meet the Snyder’s asking price of $7 billion. Reports of bids for the team have been all over the place, with Forbes reporting in December that Snyder has gotten multiple bids “well north” of $7 billion. The Washington Post then reported that the initial statements of interest came in at a maximum bid of $6.3 billion. Now, the New York Post suggests that the number has dropped “far short” of $6 billion.
The New York Post has also reported that Snyder may not be selling the team at all and that he may be looking for a way to avoid a sale. An unnamed source “closely watching the process” told the Post that “He’s an ass, and he might not want to give it up.”
There have also been reports that the NFL has asked Mary Jo White to finish her investigation of Snyder and the team, which has been put on hold since Snyder said he planned to sell the team.
The firm that Bezos has hired, Allen & Company, handled the two most recent sales of NFL franchises, those involving the Carolina Panthers and Denver Broncos, which were valued at $2.275 billion and $4.65 billion respectively.
Josh Harris is the only bidder to have been identified thus far, with reports of him having visited Washington's facility last month, according to a number of sources. Harris, a native of the Washington area, is the proprietor of the Philadelphia 76ers and the New Jersey Devils, and holds a limited stake in the Pittsburgh Steelers.
A bid from Bezos, the owner of The Washington Post, has yet to be submitted for the Commanders. The source noted that it is still early on in the process, yet this latest move implies a greater level of interest in potentially submitting an offer. It is expected that he will become part of the process at some point. Because of his net worth of $119 billion, Bezos could outbid any of the other groups.
0. “Jeff Bezos ‘hires investment firm ahead of possible bid for Washington Commanders,” Daily Mail, 24 Feb. 2023, https://www.dailymail.co.uk/sport/nfl/article-11789265/Jeff-Bezos-hires-investment-firm-ahead-possible-bid-Washington-Commanders.html
1. “Jeff Bezos takes first real step in buying the Washington Commanders” Marca English, 23 Feb. 2023, https://www.marca.com/en/nfl/washington-commanders/2023/02/24/63f8003f46163fb4688b45b7.html
2. “Jeff Bezos Reportedly Now Frontrunner To Buy Washington Commanders, In Dream Scenario For Longtime Fans” OutKick , 24 Feb. 2023, https://www.outkick.com/washington-commanders-jeff-bezos-frontunner-buy-nfl-franchise/
3. “New report suggests Daniel Snyder possibly won’t sell the Commanders” NBC Sports, 25 Feb. 2023, https://profootballtalk.nbcsports.com/2023/02/24/new-report-suggests-daniel-snyder-possibly-wont-sell-the-commanders/
4. “Jeff Bezos hires investment firm to look into potential bid on the Commanders” Yahoo Sports, 23 Feb. 2023, https://sports.yahoo.com/jeff-bezos-hires-investment-firm-220525174.html
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6. “Jeff Bezos Just Took a Major Step in Multibillion-Dollar Bid for NFL Team” Henry Herald, 24 Feb. 2023, https://www.henryherald.com/arena/jeff-bezos-just-took-a-major-step-in-multibillion-dollar-bid-for-nfl-team/article_4483ac35-7b37-5b32-bae3-ba85a983794f.html
7. “Jeff Bezos Hires Investment Firm To Help With Bid On Commanders” RealGM, 24 Feb. 2023, https://football.realgm.com/wiretap/48902/Jeff-Bezos-Hires-Investment-Firm-To-Help-With-Bid-On-Commanders
8. “Source — Jeff Bezos hires firm to help consider Commanders bid” ESPN, 24 Feb. 2023, https://www.espn.com/nfl/story/_/id/35721747/jeff-bezos-hires-firm-help-consider-bid-commanders
9. “Jeff Bezos taps investment firm while mulling Commanders bid” WNWN-FM, 24 Feb. 2023, https://wincountry.com/2023/02/23/jeff-bezos-taps-investment-firm-while-mulling-commanders-bid/