NFL Rumors: Jeff Bezos' pursuit of Washington Commanders takes huge turn as bidding deadline inches closer
Amazon owner Jeff Bezos will not go through with his bid to purchase the Washington Commanders despite showing an initial interest in buying the team. Bezos had also hired a firm to explore the possibility of a potential bid, but as per ESPN's John Keim, Commanders owners Daniel and Tanya Snyder are blocking the Amazon owner's bid.
Contrary to Keim's report, some sources close to the Synder couple have denied the claim. A potential reason behind the bid being reportedly blocked is that Bezos-owned news outlet The Washington Post has previously published investigative reports, which shed light on the numerous controversies faced by the franchise.
According to the Bloomberg Billionaire Index and Forbes, Bezos has a $125.1 billion net worth. He is currently the third-richest man in the world after LVMH CEO Bernard Arnault and business magnate Elon Musk.
Meanwhile, Snyder purchased the Washington Commanders (then Redskins) in 1999 from the estate of Jack Kent Cooke for $800 million. That amount included $340 million borrowed from the French financial services company Societe Generale. He sold 35 percent of the team’s ownership to pay back debts. He bought back the remaining minority ownership stake in April 2021.
With Bezos reportedly withdrawing interest, the Commanders have two bids left to review. One is from a group led by Josh Harris and Mitchell Rales, with NBA legend Magic Johnson as a potential part-owner. Harris also owns the Philadelphia 76ers and the New Jersey Devils. He and Rales have a combined net worth of over $11 billion.
The other bid comes from Canadian billionaire Steve Apostolopoulos. He is the managing partner of Triple Group of Companies, co-founder of credit card company Caary Capital, and founder of Six Ventures private equity firm.
Both groups submitted a bid for Snyder’s asking price of $6 billion. A third and unknown group also reportedly toured the team’s facilities but is yet to submit a bid. After approving one of the bids, Snyder will submit the name to the NFL for approval. At least a three-quarters vote from all owners (24 of 31) will approve the sale.
If the transaction pushes through, it will be the highest amount paid for an NFL franchise. The current record is the $4.65 billion spent by the Walton-Penner family to purchase the Denver Broncos from the Pat Bowlen estate in 2022.
The Washington Post exposed Washington Commanders’ toxic workplace culture
In July 2020, the Washington Post published articles about the alleged discrimination and sexual harassment of 40 former Washington Commanders' female employees. Along with Daniel Snyder, male executives, and players were reported to have participated in the alleged activities since 2006.
As a result, an independent investigation, led by lawyer Beth Wilkinson, was initiated. The allegations proved true after a year-long probe ending in July 2021. The NFL responded by fining the Washington Commanders $10 million. Daniel Snyder also stepped down from the team’s day-to-day operations, handing them over to his wife, Tanya.
Daniel Snyder’s woes didn’t end there. A year later, the House Committee on Oversight and Reform discovered that Snyder gave misleading answers when he testified in July 2022.
Melanie Coburn, a former Commanders cheerleader, also testified that she was sexually harassed up to 200 times during her employment with the squad. She added that cheerleaders’ exposed private parts were compiled into a video for Snyder’s enjoyment.
The Washington Commanders also faced allegations of deceptive business practices by withholding ticket revenue from visiting teams. They were also accused of financial improprieties by underreporting ticket sales to the NFL and the Internal Revenue Service. The House Oversight Committee also accused Daniel Snyder of having two different financial ledgers.