The Washington Football Team may have a big time investor within its ownership. According to prominent Washington Football Team blogger Burgundy Blog, rap mogul and billionaire Jay-Z is “actively divesting assets” in order to purchase a minority stake in the team.
In March, the NFL reportedly approved a $450 million debt waiver allowing Dan Snyder to buy out his minority partners, Fred Smith, Dwight Schar and Robert Rothman, for $950 million to take control of the remaining 40 percent of the team.
Snyder may ultimately look to sell off some of his debt, and turning to a major celebrity with a pop culture following would be a great marketing move for a franchise is trying to alter the negative public perception.
Jay-Z’s interest in Washington isn’t new to team insiders. JP Finlay of NBC Sports Washington, pointed out he has hinted at the situation for a while.
“If you listen to my podcast… I’ve been saying this for months,” JP Finlay said on 106.7 the Fan’s BMitch & Finlay. “I heard it from somebody sort of connected to the NFL eight, nine months ago that this could happen.”
According to Kevin Sheehan of Team980, Washington Football Team has been working with Jay-Z owned Roc Nation “for awhile now” and another firm closely related to Jay-Z which assisted in the hiring of Washington team president Jason Wright among other marketing items.
In another interesting angle, Washington hired former Roc Nation Chief Financial Offer Greg Resh in November 2020.
Sheehan speculates that someone of Jay-Z’s stature wouldn’t be intrigued with a stake in the team with zero voting power. The rap mogul who is worth $1.4 billion, according to Forbes, wouldn’t put his name and branding in the hands of a Dan Snyder with total control.
Jay-Z, who’s real name is Shawn Carter, has been working with the NFL since 2019. Him transitioning into ownership of a franchise seems inevitable. His presence alone would make the Washington Football Team a more attractive marketing gem.
He could also usher in the team’s re-branding as they look to introduce their permanent name by 2022.
However, ownership matters like this take a great deal of time. Nothing is imminent as Burgundy Blog initially pointed out. But down the road, Washington could be getting a mega star into its ownership.
