UPDATED 4/13/23, 3:40 p.m. ET: Jeff Bezos has dropped out of the bidding to acquire the NFL’s Washington Commanders, Bloomberg reports.
Bezos has long been considered the frontrunner to purchase the franchise from current owners Dan and Tanya Snyder, who announced last year that they were exploring options following internal issues. If the Amazon founder, who is the third richest person in the world, is truly out of the running to own the team, that will open the door for other potential buyers.
Last month, Apollo Global Management co-founder led a group of investors who placed a bid on the team. His group also includes Earvin “Magic” Johnson and Mitchell Rales. The current owners are reportedly seeking offers approaching $6 billion, which is far above the previous record of the $4.65 billion Rob Walton paid for the Denver Broncos last year.
Per Ian Rapoport, Josh Harris of Harris Blitzer Sports Entertainment is on the verge of acquiring the team for the asking price of $6 billion.
See the original story and the update from 2/23/23 below.
UPDATED 2/23/23, 5:17 p.m. ET: Jeff Bezos has hired investment firm Allen & Company to look into possibly placing a bid on the Washington Commanders, according to two sources that spoke with the Washington Post. Notably, the firm has experience in transactions that deal with professional sports franchises. The Amazon founder is currently the third richest person in the world, per Forbes.
Stay tuned for any further developments.
See original story from 11/3/22 below.
Jay-Z and Jeff Bezos are reportedly interested in purchasing the Washington Commanders.
Per TMZ and The Washington Post, the two billionaires are looking to get into NFL team ownership after Commanders owner Dan Snyder hired a bank to look into opportunities to sell. While a final decision has yet to be made about the ownership, the team issued a statement announcing his intentions after he hired Bank of America Securities. People Magazine also reported that Bezos is looking into buying the team from Dan and Tanya Snyder.
Back in 2019, sources close to Hov shut down any suggestions that he was planning to become an NFL team owner. Jay currently has an estimated net worth of $1.3 billion, and sources say he’s since changed his tune and could team-up with Amazon founder Bezos to buy the Commanders. Worth an estimated $114 billion, Bezos is one of the richest men in the world and founded Amazon in Washington state in ‘94.
Complex has reached out to a representative of Jay-Z for confirmation on the matter.
“The Snyders remain committed to the team, all of its employees and its countless fans to putting the best product on the field and continuing the work to set the gold standard for workplaces in the NFL,” read the statement from the Commanders. Over the past few years, Snyder has come under criticism for a series of controversies. Most notably, over 40 women who formerly worked for the organization accused Snyder and his employees of sexually harassing them. An investigation found that sexual harassment was commonplace at the team, and the NFL subsequently fined the Commanders $10 million.
The team only announced its new name earlier this year, after going by the name the Washington Football Team for two seasons. Prior to the temporary name the Washington team had come under fire for its original name, which has been called out as offensive to Native Americans.
