According to Adam Schefter, Canadian billionaire Steve Apostolopoulos submitted a $6 billion bid to purchase the historic NFL team from controversial owner Daniel Snyder.

On March 22, the New York Times reported that Apostolopoulos had toured the Commanders’ facilities, though at the time it wasn't clear if he would make a bid.

Though Apostolopoulos has never owned a professional sports team, he is the managing partner of a Toronto-based real estate firm and runs a private equity firm.

A potential purchase would mark the first time the Canadian entrepreneur dabbles in professional sports team ownership.

Apostolopoulos wasn’t the only entrepreneur to submit a multi-billion dollar bid to purchase the Commanders. Schefter previously reported that the Josh Harris group, which includes Los Angeles Lakers legend Magic Johnson, has also placed a $6 billion to purchase the Washington Commanders.

Schefter added that a purchase agreement for the Commanders could be in place by the NFL Draft on Apr. 27.