NFL insider points to ‘fictitious’ $5.1 billion Washington Commanders deposit with ownership change stalled

Josh Harris and his group will soon be the new owners of the Washington Commanders. Barring any unforeseen complications of course. But, the sale of the Commanders is in court and it has nothing to do with Harris or current owner Dan Snyder.

Former Duke and NBA player Brian Davis is suing Bank of America after he said that he deposited $5 billion to bid on the team. According to Davis, he deposited the money as part of his way to bid for the team. He claims that he never received the money back after the team was sold.

He is suing Bank of America Securities, which handled the sale of the Washington Commanders. As part of the hearings, Bank of America told the judge that the bank drafts that Brian Davis submitted were fictitious and that the documents reported financial earnings that weren't accurate.

NFL Insider Ian Rapoport replied to the Tweet from the new findings on the case. Simply saying that explains why a deal was never attempted with Davis and the team.

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"Probably explains a few things."

Ian Rapoport

@RapSheet

Probably explains a few things. twitter.com/wallachlegal/s…

Daniel Wallach

@WALLACHLEGAL

Bank of America informs the judge that the $5.1 billion in bank drafts presented for deposit by Brian Davis’ company (Urban Echo) appear to be “fictitious” and are not what they purport to be. twitter.com/wallachlegal/s…

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Bank of America informs the judge that the $5.1 billion in bank drafts presented for deposit by Brian Davis’ company (Urban Echo) appear to be “fictitious” and are not what they purport to be. twitter.com/wallachlegal/s…

Probably explains a few things. twitter.com/wallachlegal/s…

This new revelation comes after doubts about funding were raised in the case. Davis' bid was never thought to be a serious contender. Many questioned where he got the $5 billion funding to even seek to buy the franchise.

Bank of America is now stating that the funding was not legitimate in the first place.

How much did Josh Harris pay for Washington Commanders?

In recent weeks it appears that Josh Harris' ownership group is inching closer to becoming NFL team owners. The bid which was chosen by current team owner Dan Snyder is worth $6 billion.

When Washington was first considered up for sale, the team's estimated net worth was about $5 billion. A big increase in net worth since Snyder purchased the NFL franchise in May 1999 for $800 million.

Pat McAfee

@PatMcAfeeShow

"The original thought was that the Washington Commanders sale was gonna be finalized at the upcoming league meeting..

I do expect the sale to happen but I don't believe it will get done at the league meeting"

@RapSheet #PMSLive

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"The original thought was that the Washington Commanders sale was gonna be finalized at the upcoming league meeting..

I do expect the sale to happen but I don't believe it will get done at the league meeting"

@RapSheet #PMSLive https://t.co/6pk5soLTdr

Harris' bid included a group of stake owners including NBA champion Magic Johnson and billionaire Mitchell Rales. Just a few weeks ago, the National Football League approved the financial aspects of the sale.

It will now move forward and will be up for approval by the remaining NFL owners later this summer. The sale will need just a majority of the NFL team owners to agree for it to become official. After the past few tumultuous years with Snyder, that shouldn't be a problem.

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