The 20-plus year tenure of Daniel Snyder as the Washington Football Team owner could very well be coming to an end here soon.
Fans of the team previously known as the Redskins won’t be crying foul after this franchise’s struggles during the Snyder era.
The backdrop here is real. Not only was Snyder forced to change the name of his team, a recent scandal involving a toxic culture of sexual harassment within the organization has led to Snyder’s role of owner being in limbo.
Minority owners within the organization are now calling for Snyder to sell a team that he purchased for a mere $800 million back in 1999.
Whether Snyder decides to willingly sell the team or is forced into giving up control, much like what we saw with Jerry Richardson and the Carolina Panthers, something will likely happen here soon.
If so, let’s look at what the Washington Football team might sell for and the top big-name candidates to purchase the NFL franchise.
Washington Football Team value
- According to Forbes, Washington is worth an estimated $3.4 billion. No matter how this turns out, Mr. Snyder will turn a strong profit.
- Though, there’s some concerning trends when it comes to NFL team values amid the economic downturn the pandemic has caused. The NFL as a whole is going to see a huge revenue drop this season, primarily because teams will have to play without fans in attendance.
- The long-term economic impact of the pandemic will not be known for some time. That’s obviously true within the confines of the sports world, too.
Most-recent NFL team sales
- David Tepper purchases the Panthers for $2.75 billion in 2018
- Terry and Kim Pegula purchase Bills for $1.4 billion in 2014
- Jimmy and Dee Haslam purchase Browns for $1 billion in 2012
- Shad Khan purchases Jaguars for $770 million in 2012
Taking this into account and looking at the increased market for NFL teams over the years, it’s safe to say that Snyder can expect to sell the organization for north of $3 billion. How much more than that will depend on the economic climate around the league and the above-mentioned revenue downtick.
Who are the top candidates to purchase the Washington Football Team?
Sean Combs
This music mogul put his hat into the ring when it came to buying the Panthers back in 2018. While nothing came to fruition on this end, we know the NFL is looking into the possibility of increasing the presence of minorities within its hierarchy.
Forbes estimates that Combs is worth $820 million. Needless to say, he doesn’t have the financial ability to become a majority owner. But he could become the public face of a new Washington ownership group.
Jeff Bezos
With a net worth of $188.7 billion, Amazon’s founder is the world’s richest man. Bezos has not necessarily opened up about buying a sports franchise, but he has the means and it would add to his portfolio.
Michael Jordan
There’s certainly some stuff standing in the way of His Airness purchasing an NFL team. Primarily, cross-sport ownership is frowned upon. Currently a majority owner of the NBA’s Charlotte Hornets, Jordan would have to sell that franchise in order to take on this task. Even then, he got into the purchase of the Miami Marlins (less than 1%) and has a net worth of $1.6 billion. It’s more than possible.
Laurene Powell Jobs
I focused on this possibility last year. The wife of Apple founder Steve Jobs, this woman is a major force within the tech community. Jobs also recently purchased a 20% stake in the ownership group Monumental Sports & Entertainment, which overseas the NBA’s Washington Wizards and NHL’s Washington Capitals. She’s obviously interested in becoming an owner within the pro sports world and has major ties to the D.C. area.