Dan Snyder has explored options of selling the Washington Commanders since November, hiring Bank of America Securities to help facilitate a potential transaction. There have been numerous reports, but the latest by Ben Standig of The Athletic details the current stage of the Commanders’ sale.
According to Standig, Philadelphia 76ers, and New Jersey Devils owner Josh Harris has toured the Commanders’ team facility in Ashburn, Virginia, ahead of the first round of binding bids for the NFL franchise. Harris is considered the favorite to buy the Commanders if Snyder sells the team or Amazon founder Jeff Bezos doesn’t get involved in the bidding.
At least one more potential owner group toured the team facility in addition to Harris, according to Mark Maske of The Washington Post.
Previously it was reported that the first round of bids for a sale occurred in December. However, Standing highlights those were non-binding bids Bank of America Securities gauged for interest in the team. This may the reason Bezos did not submit an offer during that period.
The binding bids are due in a “few weeks” and will be more formal. That’s where Bezos could join the fray.
Other potential suitors include media mogul Byron Allen and Clearlake Captial founders Behdad Eghbali and Jose Feliciano.
NFL commissioner Rodger Goodell acknowledged the Commanders are in the process of finding a buyer during his Super Bowl press conference this week.
“The Commanders are under a process,” Goodell said, per Josh Alper of Pro Football Talk. “That’s their process. Ultimately, if they reach a conclusion and have someone joining the ownership group or buying the team, that’s something the ownership will look at.”
Snyder reportedly may be seeking $7 billion for the Commanders. Bids reached as high as $6.3 billion during December’s non-binding offers. Either mark would surpass the current NFL record of $4.7 billion that the Denver Broncos sold for last year.
