Report: Dan Snyder’s Plan Is To Sell Entire Team Quickly
According to reports from FOX’s NFL Reporter Jay Glazer, Washington Commanders Owner Dan Snyder intends on selling the entire Commanders franchise. Furthermore, Glazer says the asking price for the Commanders is expected to be as much as $7 billion. If successful, the deal would shatter not only Forbes’ projections of $5.6 billion, but also the standing league record of $4.65 billion that was set with the Denver Broncos sale. The hope is to have the entire process done within the next six months, Glazer says.
Considering the fact that the owner originally purchased the team in 1999 for $800 million with two partners, Snyder would see a major return in profit if the deal ends up being successful. During the time, the team was formerly known as the Washington Redskins.
Since Snyder announced that he has hired Bank of America to handle the sale of the Commanders, multiple people have expressed interest in buying the team. Byron Allen has reportedly been preparing to place a bid on the Commanders. It will be his second attempt at purchasing a team this year. If successful, Allen will become the first black NFL owner in league history. Another major figure, who is also interested in purchasing the team and has pre-existing ties with both Snyder and the Commanders, is Amazon Executive Chairman Jeff Bezos.
Bezos is reportedly interested in forming a partnership with rapper Jay-Z to joint purchase the Commanders, according to reports from People.com. Bezos also owns the newspaper, The Washington Post, through his other company, Nash Holdings LLC. He has owned the paper since 2013 after purchasing it for $250 million.
“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, the NFL spokesman. This means that twenty-four of the thirty-two current team owners must agree to the sale.
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