While the NFL world waits for the potential sale of the Washington Commanders to complete, one suitor has “drawn a line” with the process. Houston Rockets owner Tilman Fertitta acknowledged he placed a bid on the Commanders to CNBC. Yet, he is fully prepared to walk away.
“I’ll be flat-out honest, I made a bid on the Washington Commanders for $5.6 billion,” Fertitta said, per Nicki Jhabvala of The Washington Post. “That’s the value that Forbes had them at, and at some point, you’ve got to draw a line in the sand on everything, and that’s where we are.”
Fertitta is one of three groups confirmed to place an offer to buy the Commanders from Dan Snyder. However, the sale is at a standstill as Snyder seeks $6 billion.
“If they can get somebody to pay them more than that, good luck to them. That’s all I can say. I own a franchise, so I love them selling for a lot. But at some point, I don’t think $6 billion is the right number,” Fertitta continued.
Snyder and his wife, Tanya, began exploring a sale in November. The Snyders hired Bank of America Securities to facilitate the sale.
Philadelphia 76ers and New Jersey Devils owner Josh Harris leads another group that includes fellow billionaire Mitchell Rales and NBA legend Magic Johnson. Canadian Steven Apostolopoulos has also placed a bid.
According to A.J. Perez of Front Office Sports, Fertitta has not been engaged with the process in weeks. Apostolopoulos may have trouble assembling funding to satisfy Bank of America. Meanwhile, the Harris-led group is the perceived frontrunner, placing a bid between $5.5 billion and $6 billion.
Yet, Snyder appears to be holding out for a larger bid. Pundits have believed Snyder hoped Amazon founder Jeff Bezos would enter the fray, driving the number up. However, multiple reports emerged Wednesday, Bezos does not expect to place a bid for the Commanders.
Without Bezos, Snyder may have lost leverage. That may force him to settle for one of the existing bids. There is also the unlikely option, Snyder chooses not to sell the team to the chagrin of Commanders fans wishing he bows out of ownership.
For Fertitta, he has drawn the line with a take-it-or-leave offer.
“Everybody that’s watched me do business for the last 40 years knows when I draw a line in the sand, I’m done,” Fertitta said. “So, I’m here. You know I can close, and that’s the way it is.”
