Washington Commanders news: Jeff Bezos’ $120 billion net worth scaring off potential bidders, with Chelsea owners lying in wait
Washington Commanders news circles have been abuzz with rumors (mostly bordering on hope) that the franchise could be under new leadership with Jeff Bezos seemingly the frontrunner.
Prospective bidders for the NFL franchise feel that if Bezos wishes to purchase the team, it’s his for the taking. This is because his net worth of $120 billion would allow him to outbid all challengers.
One such challenger is Todd L. Boehly, the chairman of the Premier League powerhouse, Chelsea Football Club.
Despite that, according to those connected to the process, several groups are vying to position themselves as the next-best option. This will happen if Bezos decides not to go after the team or sets a hard limitation on what he’s willing to dole out financially.
Washington Commanders news and rumors: Is Dan Snyder selling the whole franchise?
It is unclear whether the current Commanders owner Daniel Snyder wants to sell the team outright or find investors to buy a small stake in the franchise. He and his wife, Tanya Snyder, who's also the team’s co-CEO, recently hired Bank of America to explore all options.
Any transaction is likely to be hindered by the legal problems surrounding the NFL franchise.
According to multiple sources familiar with the talks among possible bidders, new owners and investors would not want to be legally responsible for any fiscal judgments against the team.
If Snyder chooses to sell the entire franchise, prospective buyers outside of Bezos would likely be bidders who tried to buy the Denver Broncos earlier this year.
Ultimately, the team was sold to a group led by Walmart heir Rob Walton for $4.65 billion.
Josh Harris, the owner of the Philadelphia 76ers, would also be a likely bidder along with Boehly, should Bezos bow out.
How much are the Washington Commanders worth?
According to Forbes, the Washington Commanders franchise is worth $5.6 billion. The valuation is almost a billion dollars more than what the Broncos sold for, which was far and away a record for an NFL team.
The Washington Commanders are situated in a major market, and until purchased by Snyder in 1999, the franchise was a top brand and moneymaker. New owners might also expect relieved public officials to open up the coffers for a new stadium, further aiding the team’s value.
If the Commanders are worth $5.6 billion with Snyder as the owner, the selling price could go for more if he does want to sell the whole team. We'll see what Snyder decides upon, especially with the current owners exploring all options.