Washington Commanders owner Daniel Snyder is making progress towards a sale of the coveted NFL franchise. While there is still some casting doubt on the likelihood of Snyder following through with a sale, the offers he is receiving could play a huge part in his decision.
Snyder first disclosed the possibility of entertaining offers for the Commanders in November when he hired Bank of America Securities to evaluate potential transactions of the club. At the time, most around the NFL believed Snyder’s motivation was to flush out Jeff Bezos, aiming to prove the Amazon founder and owner of The Washington Post sought control of the team.
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However, sentiment around the league seems to be shifting. With numerous bidders emerging and making record-breaking offers to buy out Snyder’s full stake in the franchise, it appears there is now a realistic chance the Commanders will have a new owner.
Considering the offers reportedly being made to Snyder, it doesn’t come as much of a surprise that he is now receptive to the idea of selling the team he grew up rooting for.
According to Mike Ozanian of Forbes, Snyder has received multiple offers “well north” of $7 billion for the Commanders.
Putting those bids into greater perspective, the Walton group paid $4.65 billion for the Denver Broncos this summer. It set a North American record for the highest purchase price ever of an American sports franchise. Now, there are reportedly multiple groups willing to nearly surpass it by $3 billion.
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If there is going to be a bidding war for the Commanders, which seems to be happening, it all sets the stage for a predictable outcome. Snyder will use the competition to force Bezos, who has wanted to buy Washington’s NFL team for years, to pay a historic sum.
Given there are reportedly multiple $7 billion bids on the table, Snyder could have enough leverage to push Bezos to an $8 billion offer. While he would still need approval from the NFL, a majority of owners want Snyder out of the league.
If Bezos comes out on top of the bidding war, he could become the richest team owner in NFL history. It would be a significant moment for the league, just months after Walmart heir Rob Walton ($60.7 billion net worth) landed the Broncos.
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Considering Bezos’ power, reach and his $100 billion net worth, he could quickly become one of the most powerful figures in the NFL. If he replaces Snyder, it would certainly be viewed as a long-term win for both the league’s financial interests and the Commanders’ future.