Report: Byron Allen Preparing A Bid To Buy Washington Commanders
Sports Anchor Scott Abraham reports Byron Allen is preparing a bid to potentially purchase the Washington Commanders. The bid reportedly is believed to be one of the biggest deals made in the history of the National Football League, if it’s accepted. Forbes recently valued the Commanders franchise at $5.6 billion in August. Current Commanders own Dan Snyder purchased the team back in 1999 for $800 million, which was the league record during that time.
“Any potential transaction would have to be presented to the NFL Finance Committee for review and require an affirmative vote by three-quarters of the full membership,” according to Brian McCarthy. Meaning, a minimum 24 of the 32 team owners are required to agree with the proposed bid if and/or when presented. McCarthy is a spokesperson of the NFL.
This would make Allen’s second attempt this year at attempting to purchase an NFL team, as the Entertainment Studios CEO placed a bid on the Denver Broncos when it was up for sale. Allen was outbid, as the Broncos sold for $4.65 million. Forbes reported on Wednesday that Snyder has retained the services of Bank of America in order to handle the selling of the Commanders.
On that same day, reports say a federal investigation was launched into the Commanders organization to look into the allegations of Commanders committing financial improprieties. Attorney John Brownlee has denied the allegations in a written statement that was presented by team spokesperson Jean Medina.
“It is not surprising that ESPN is publishing more falsehoods based solely on anonymous sources — given today’s announcement,” the statement said. “…We are confident that, after these agencies have had a chance to review the documents and complete their work, they will come to the same conclusion as the team’s internal review — that these allegations are simply untrue.”
WJLA has more HERE.
Categorized: NFL The Latest