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Report: Dan Snyder hoping to sell ‘all of’ Commanders franchise
New information continues to develop concerning the possible sale of the Commanders franchise from current owner Dan Snyder. Our most recent report included an estimated value of $5.6B with a potential sales price of up to $7B.
We also pointed out that it was still uncertain whether Snyder was determined to sell all of his stake in the team or whether he still desired to remain a part-owner of the Commanders.
Mike Florio of NBC Sports was able to provide an update to these points this past weekend, reporting that Snyder is determined to sell “all of it — not some of it,” contradicting an earlier report where he quoted Cowboys owner Jerry Jones‘ opinion that Snyder was simply “testing the waters” in an attempt to sell a minority interest in the team.
This also makes a moot point of fellow NBC Sports contributor Peter King, who posed that if anyone were to buy a minority stake, it would have to include a clear path to eventually buying Snyder all the way out “in a defined number of years.”
The report also mentions that Snyder hopes to get the full $7B amount for the franchise. The goal is for the full sale of the team to occur by March 2023. Florio points out that achieving that $7B amount would result in a profit of $6.25B from his original purchase price of $750M.
Florio also points out that the odds of reaching that sales price becomes more and more likely as lots of interested buyers create the potential for a bidding war.
One of the potential bids we had mentioned previously was a group that was rumored to be forming around Amazon founder Jeff Bezos and music mogul Shawn Carter, also known as rapper Jay-Z. Since that rumor began, a number of others have expressed interest in joining the bid.
Actor Matthew McConaughey was reported to be exploring the possibility of joining Bezos and Carter or forming his own investment group to bid, according to Mark Maske and Nicki Jhabvala of The Washington Post.
Nets star forward Kevin Durant is also reportedly hopeful to join the franchise’s ownership group, according to ESPN’s Nick Friedell.
McConaughey and Durant are both big fans of the Commanders and have some recent experience in franchise ownership.
McConaughey is a co-owner of the Major League Soccer’s recent expansion team in Austin. Durant owns a 5% stake in the MLS’s Philadelphia club as well as a minority stake in the National Women’s Soccer League’s Gotham FC.
Most recently, Durant became a co-owner last month of a pickleball team. Neither McConaughey nor Durant are in the financial position to lead a bid for the Commanders and would have to rely on an investment group to enter a bid.
Red Sox owner John Henry has also been seen as a possible bidder, according to Josh Kosman of the New York Post, after his recent efforts to sell the Liverpool Football Club.
The UK-based soccer club is set to sell for around $2-3B, a sum that could contribute to the eventual bidding war for the Commanders.
One of the finalists in the sale of the Broncos, mortgage company executive Mat Ishbia also reportedly plans to consider contending with a bid for Washington, according to Maske and Jhabvala.
Ishbia issued a statement directly to The Washington Post claiming that he is “interested in exploring this opportunity further.”
The constant emergence of new names supports the prediction that a bidding war could easily drive the team’s price up to the $7B price tag that Snyder covets.
King, from above, suggested that, as “Snyder detests The Washington Post,” he would never want to sell to its owner, Bezos. Perhaps the sheer volume of other investors in the potential investment group will change his mind. If not, it doesn’t sound like Snyder will be lacking for interested buyers.
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