Josh Harris

Josh Harris Raises Bid For Commanders; Brian Davis Still In Play

April 16th, 2023 at 12:41pm CST by Sam Robinson

APRIL 16: The fact that Snyder’s agreement with Harris is a non-exclusive one could be a factor as the sale of the Commanders nears its conclusion. Per Darren Haynes, Laura Wainman, and Erin Spaht of WUSA9, Washington, D.C. native Brian Davis has made a $7 billion cash bid to purchase the club. Davis would become the NFL’s first Black owner if his bid were to accepted.

The WUSA9 trio add that Davis is willing to indemnify Snyder — meaning he would assume any legal liability stemming from the investigations currently surrounding Snyder — and would pay the first $1 billion within 24 hours. The remaining $6 billion would be paid out within a week.

It is easy to see the appeal of such a proposal, and as of Thursday evening, Bank of America — which is handling the the sale offers — was still in communication with Davis.

APRIL 13, 7:15pm: The finish line appears in sight as Snyder has reportedly reached an agreement with Harris’ group to sell the team for $6.05 billion, according to Rapoport of NFL Network. Rapoport tempers the excitement a bit by pointing out that the agreement is not exclusive, meaning another bidder could theoretically still come in and bid higher for the franchise. The deal has been agreed to but is not yet official. Barring any snags in the process, however, Harris is expected to become the next owner of the Washington Commanders.

2:58pm: Harris looks to have increased his offer. The NBA and NHL owner submitted a $6.05 billion bid for the Commanders, Rapoport reports (on Twitter). This is expected to be the winning bid for the franchise. No papers have been signed just yet, and Adam Schefter of ESPN.com reports (via Twitter) Apostopoloulos is not completely out of the running. But Harris appears on the cusp of buying the team from Snyder.

This can be classified as a preliminary agreement, according to the Washington Post, and the Commanders are close to becoming the first American sports franchise to sell for more than $5 billion. This approximately $6 billion price will smash the record the Broncos set last year. Walton’s Denver offer obliterated the previous NFL record; Harris’ bid will be worth nearly triple what Tepper paid to acquire the Panthers in 2018.

12:48pm: Apostolopoulos has not bowed out of the pursuit yet. The Canadian billionaire real estate developer is believed to be in a “head-to-head race” with Harris, according to ESPN.com’s John Keim. Apostolopoulos joined Harris, Houston Rockets owner Tillman Fertitta and an anonymous group in bidding on the team.

Citing a recent Forbes valuation, Fertitta bid $5.6 billion as well, Jhabvala adds (Twitter link). Harris is not planning to increase his bid, and Fertitta does not sound like he will move much higher. No NFL vote on either Harris or Apostolopoulos will likely be held, per Keim, until the next round of owners’ meetings, which are set for May 22-24 in Minneapolis. But it does not appear the Commanders’ next owner is known just yet.

12:15pm: Less than 24 hours after reports indicated Jeff Bezos did not plan to bid on the Commanders, a sale is near the finish line. Josh Harris and Dan Snyder are nearing an agreement, Ian Rapoport of NFL.com reports (on Twitter).

Harris, who owns the Philadelphia 76ers and New Jersey Devils, bid $5.6 billion for the franchise, Mark Maske and Nicki Jhabvala of the Washington Post report. No terms have been submitted to the league, and Harris’ prospective purchase will still need to be approved by at least 24 NFL owners. Snyder has not informed the NFL he is selling just yet, but Maske adds (via Twitter) the hope is an agreement will be reached in the coming weeks. The approval part of a deal is expected to be a formality, with Harris having been vetted during his run at buying the Broncos last year.

This process, which began late last year when Snyder hired a firm to explore selling the team after 23 years as owner, looks to be close to the goal line. Sportico reports Snyder and Harris have agreed in principle (Twitter link). Harris’ ownership group includes NBA legend Magic Johnson and billionaire Mitchell Rales.

Snyder, 58, bought the franchise in 1999 for $800MM. Snyder’s ownership tenure has been roundly criticized, and scandals have engulfed him for years. The repeated investigations into workplace misconduct and financial impropriety moved a possible vote to remove Snyder from his post onto the radar. A sale, however, has always been the NFL’s preferred outcome. No owner has ever been voted out. Instead, Snyder looks to be stepping away on his own. Further pointing to an NFL exit, Dan and Tanya Snyder have since named England as their usual place of residence.

The embattled owner had insisted for years he would never sell the team. But investigations — including two by the NFL and one by the House Oversight Committee — overshadowed the final years of his tenure. A 2022 ESPN report that indicated Snyder had hired firms to collect dirt on some of his fellow owners, along with Roger Goodell, emerged just before sale rumors began. Snyder denied having done so, but sale rumors surfaced shortly after that denial.

Mary Jo White’s investigation is ongoing, but that probe — one that will lead to a written report of the findings, as opposed to the 2021 investigation which did not produce a report — is believed to be nearing a conclusion. Snyder, whom the NFL fined and handed a de facto suspension at the end of its initial probe, had previously demanded indemnification to protect him against further repercussions. Owners have shot down that demand.

From 1972-91, Washington appeared in five Super Bowls and won three. During Snyder’s ownership, the team has never advanced to the playoffs in consecutive years and has won 10 games in a season only three times. Snyder’s ownership tenure has never produced more than 10 wins in a season. Front office, coaching and quarterback instability have plagued the team. Should Harris indeed take over, his restoration task will dwarf the ones David Tepper or Rob Walton needed to complete.

Walton outbid Harris for the Broncos, but the latter remained on the ownership radar. He joined Canadian billionaire Steve Apostolopoulos in submitting record-setting bids late last month. Harris, 58, will end up paying over a billion more for the Commanders than Walton paid for the Broncos (an American sports-record $4.65 billion), but the NBA and NHL owner has moved close to entering the country’s most popular sports league.

Harris is a Chevy Chase, Maryland, native who bought the Sixers in 2011. His ownership group acquired the Devils two years later. Harris also owns English Premier League franchise Crystal Palace. In June 2020, Harris purchased a stake ($140MM, approximately 5%) of the Steelers. Tepper also bought an NFL team after having been a Steelers minority owner. Like Tepper, Harris will need to sell that stake before taking over in Washington.

The Oversight Committee’s investigation into Snyder and the Commanders wrapped late last year. Its report accused Snyder of permitting and participating in a longtime toxic workplace culture. Snyder is believed to have leaked the emails that led to Jon Gruden‘s Raiders exit, and the Committee accused the NFL in assisting the Washington owner in preventing the 2021 Beth Wilkinson probe from producing a written report. The forthcoming White report likely represents the next shoe to drop for Snyder, who is also being investigated by the office of Virginia’s attorney general. A lawsuit from the D.C. attorney general, one that also included the NFL, has accused Snyder of “colluding to deceive and mislead customers.”

Jeff Bezos Not Planning Commanders Bid

April 12th, 2023 at 10:00pm CST by Sam Robinson

Lurking as the potential top bidder for the Commanders, Amazon founder Jeff Bezos is no longer expected to pursue this purchase. Bezos has no plans to submit a bid for the NFC East franchise, Mark Maske and Nicki Jhabvala of the Washington Post report.

Dan Snyder‘s animosity toward Bezos notwithstanding, the bid the latter could have come in with would have certainly put him in strong position to buy the team. Many around the NFL expected a bid. Instead, this could pave the way for one of the ownership groups that have already entered the fray. Puck News’ Theodore Schleifer was first to report Bezos, 59, will not move forward in this process.

Groups headlined by Philadelphia 76ers owner Josh Harris and Canadian billionaire Steve Apostolopoulos have submitted bids. Harris, whose ownership group includes Magic Johnson, is viewed as the leader here, according to Schleifer. Harris’ bid checked in at approximately $6 billion, per the Washington Post. That does not hit Snyder’s $7 billion target, though SI.com’s Albert Breer notes the goal now may be closer to $6.5 billion.

It is not known if an agreement between Snyder and Harris is imminent, per Maske and Jhabvala, but Breer adds Harris is unlikely to raise his bid. Harris has already been vetted — due to his pursuit of the Broncos last year — and is believed to be well-regarded in ownership circles, per Breer. The NFL has shown little desire to hold a vote to remove Snyder as Commanders owner, despite steady rumblings of ownership’s dissatisfaction with Snyder’s behavior and the brigade of scandals engulfing him. But it would seem Harris, who also owns the NHL’s New Jersey Devils, would not have trouble being voted in by NFL owners. Twenty-four votes are required for an ownership transfer to commence.

A $6 billion sale would still shatter the record — set last year when Rob Walton bought the Broncos — for an American sports franchise, but Snyder has not fully committed to selling the team yet. A sale is expected, but it is not a lock. Removing a monster Bezos bid from the equation could provide a speedbump. Most around the league believe Snyder will sell, but Breer adds some nervousness exists the defiant leader will back out at the last minute. That could force owners’ hands, as Snyder remains ensnared in multiple investigations — including a second league-launched probe, which Mary Jo White has been leading for over a year — since the House Oversight Committee released its report.

No. 3 on the most recent Forbes list, Bezos has also been connected to a future Seahawks purchase. Not submitting a Commanders bid keeps that door open, though with the Seahawks not being for sale, Bezos not intending to submit a Commanders bid will keep him out of the NFL for the foreseeable future. Bezos has used a New York firm to evaluate a Commanders purchase, Maske and Jhabvala add. Snyder had previously blocked a Bezos path to Commanders ownership; his ownership of the Washington Post has rankled Snyder. As of March, however, Snyder was no longer believed to be dead-set against selling to Bezos. That appears a moot point now, and Harris negotiations may be on tap soon.

Josh Harris, Steve Apostolopoulos Submit Bids For Commanders

March 28th, 2023 at 1:14pm CST by Sam Robinson

Dan Snyder has not committed to selling the Commanders, but two bids that would break an American sports record have come in for the franchise. The groups headlined by Josh Harris and Steve Apostolopoulos have submitted fully funded bids hitting the $6 billion mark.

Although more issues are in play here, Adam Schefter and Brian Windhorst of ESPN.com note a growing belief has emerged Snyder will sell before the draft (Twitter link). It is unclear which bid is higher. No Commanders matter is believed to be on the docket at this week’s league meetings, Albert Breer of SI.com tweets, but it is a safe bet this topic will be among those informally discussed at the latest league gathering.

Harris finished second in the bidding for the Broncos, which the Rob Walton-fronted group won after submitting a then-record $4.65 billion bid. Magic Johnson has rejoined Harris’ group; the NBA legend was part of the Philadelphia 76ers owner’s group when it contended to purchase the Broncos. Houston Rockets owner Tilman Fertitta has also emerged as a potential bidder. A Canadian billionaire, Apostolopoulos was not part of the Broncos bidding. Another anonymous group has joined these in touring the team’s facility, per ESPN.

It will require 24 votes for either prospective owner to acquire the Commanders, though a vote is not expected to be the primary issue here. Engulfed in investigations, Snyder has pushed for indemnification as part of a sale. Colts owner Jim Irsay, who spoke out against Snyder during owners’ meetings last fall, came out against offering Snyder any sort of special protections in order to streamline his NFL exit, NFL.com’s Judy Battista tweets. NFL owners are not expected to allow Snyder indemnification.

Rumors emerged following Irsay’s fall comments that Snyder could sell part of the franchise, and he hired a firm to explore that possibility soon after. Snyder had long said he would never sell, but this process has moved down the road in the months since he and wife Tanya hired the firm. The Harris and Apostolopoulos bids have moved this process further along. Snyder is unlikely to fetch the $7 billion price he has sought, per NBC Sports’ Peter King, but these bids are still 7.5 times the price he paid to buy the team in 1999 ($800MM).

Amazon CEO Jeff Bezos still lurks here, and many around the league expect the Snyder rival to submit a bid the Harris- and Apostolopoulos-led groups refuse to top. Snyder is no longer believed to oppose a Bezos bid, FOX Business’ Charles Gasparino reports (on Twitter). Bezos bidding will obviously bring more intrigue compared to the two numbers that surfaced Tuesday, but he has yet to submit his own price.

The NFL’s second investigation into Snyder and the Commanders — one of a few the embattled owner has become embroiled in over the past few years — is ongoing. A full report is expected soon. Snyder has declined to be interviewed as part of the Mary Jo White-run probe, Mark Maske, Liz Clarke and Nicki Jhabvala of the Washington Post report. White will continue to pursue Snyder cooperation; this would not be the first time Snyder has attempted to evade providing testimony in an investigation. He did so last year amid the House Oversight Committee’s probe and declined to answer more than 100 questions when he did end up testifying. White’s investigation, which followed a league probe that did not produce a written report, has now run for 13 months.

Owners have paused any effort to remove Snyder from his seat, per the Washington Post. The NFL has never voted to remove an owner, and a sale will certainly be the league’s preferred outcome. This process is obviously far more complicated compared to recent sales involving the Broncos and Panthers, but the finish line may soon be in sight.

Latest On Commanders Bidders, Potential Sale Timeline

March 24th, 2023 at 6:59pm CST by Adam La Rose

With the NFL’s owners’ meetings approaching, attention is increasingly being turned to the potential sale of the Commanders. The shortlist of bidders in the running to purchase the embattled franchise appeared to be set, but a few notable changes have become clear in recent days.

Josh Harris’ bid has gained a noteworthy and familiar ally in the form of Earvin ‘Magic’ Johnson. The NBA legend has joined the Harris group, as first reported by Sportico’s Scott Soshnick and Eben Novy-Williams. It is unclear at this point how much capital Johnson could be contributing, but he has a long history of becoming a minority in other pro sports franchises.

The 63-year-old has a stake in the Los Angeles Dodgers, WNBA’s LA Sparks, as well as Major League Soccer club LAFC. Last offseason, Johnson became a part of Harris’ ownership group attempting to purchase the Broncos, which ultimately came up short on that occasion. The pair will now partner once again in their latest effort to join the NFL’s ownership ranks, though they will be facing increased competition.

Canadian billionaire Steve Apostolopoulos has joined the list of interested suitors to tour the Commanders’ facility and emerge as potential new owners, per ESPN’s Brian Windhorst, Adam Schefter and John Keim. That makes him the third known bidder, along with Harris and Houston Rockets owner Tilman Fertitta, who was identified last month as one of the finalists to purchase the team.

The ESPN reports notes that Apostolopoulos, a Harvard graduate whose personal net worth sits at an estimated $3.9B, had shown an interested in purchasing the Charlotte Hornets. Instead, he has now turned his attention to the NFL, and the possibility of being involved in what is expected to be another record-shattering sale in terms of total price if the Commanders are sold in full.

Lurking over this ongoing process, of course, is Jeff Bezos. The Amazon founder has long been considered the top name to watch amongst potential bidders, given his immense wealth and proximity to the franchise as owner of the Washington Post. The latter factor, along with the personal tension it has caused between Bezos and Commanders owner Dan Snyder, however, has been named as the top reason why Bezos has reportedly been blocked from participating in the bidding process to date.

As Ralph Vacchiano of Fox Sports tweets, though, many around the league still believe “it’s only a matter of time” before Bezos submits a bid the other suitors cannot compete with at the eleventh hour to secure ownership of the Commanders. For now, at least, he remains on the sidelines with respect to potential new owners, however.

The upcoming league summit has been floated as a time for a sale to become finalized, since it would require approval from the NFL’s other owners to earn ratification. While Snyder’s recent actions have led to reports of a sale being imminent, it might not be in place in time to be finalized by the end of the month, according to Nicki Jhabvala Mark Maske and Liz Clarke of the Washington Post. They nevertheless reiterate that Snyder is expected to sell “in the coming weeks or months,” so a resolution to this saga could be on the horizon.

Latest On Potential Commanders Sale: Snyder, Owners, Harris

March 16th, 2023 at 9:52pm CST by Ely Allen

The Dan Snyder era in Washington may be on its last legs, according to Mike Florio of NBC Sports. Sources have said that the word being used to describe the sale within the facilities is “imminent,” leading some to speculate about just how soon this all may come.

Assisting in this theory is the rumor that Snyder and his wife, Tanya, have reportedly cleared out of the Commanders’ facility in anticipation of the sale. The departure occurred back in late December, a bit over a month after the couple announced they were considering a sale. The announcement was followed by the process of drawing in bidders, but despite that process, many in league circles have been skeptical that the Snyders seriously intended to sell.

This new evidence may bring a bit more validity to Snyder’s claims of consideration. That being said, there is no confirmed purchasing group at this time. As many as three different prospective buyers have toured the facility and stadium, but the organization refuses to comment on the potential sale.

Here are a few other rumors surrounding the potential sale of the Commanders:

A committee meeting took place recently including some of the league’s owners. According to Mark Maske of The Washington Post, a decision still has not been made concerning the prospect of taking a vote to remove Snyder from ownership should he refuse to sell the team. Snyder’s wife continues to represent the Commanders in league meetings, an arrangement put in place following attorney Beth Wilkinson’s investigation into Snyder and the team. There’s been no reports that she has addressed the owners, and members of the owners’ finance committee claim that they have heard no specifics on a potential transaction.
One of the potential bidders rumored to be in the running to buy is Philadelphia 76ers owner Josh Harris. According to Adam Schefter of ESPN, Harris’s bid was recently bolstered by the addition of DC billionaire Mitchell Rales. Rales is the co-founder of the Danaher Corporation, the largest company in Washington.

Latest On Potential Commanders Sale

February 26th, 2023 at 11:00am CST by Adam La Rose

Previous reports indicated that a resolution would be coming soon in the ongoing sales process concerning the Commanders. Further developments have recently taken place, though they may not point to a sale being as likely as once believed.

Amazon CEO Jeff Bezos – who has long been considered the top name to watch amongst bidders for the Washington franchise – has been barred from taking part in the bidding process, as first reported by Josh Kosman of the New York Post. That news comes in spite of Bezos’ stated interest in being a candidate to buy the Commanders, as evidenced by his decision to hire an investment firm just days ago.

Adding further clarity to the Bezos matter, Ben Standig and Daniel Kaplan of The Athletic report that the mogul’s inability to place a bid “has been a reality for months.” Tense relations between current Commanders owner Dan Snyder and Bezos, who owns the Washington Post, have been frequently mentioned as a potential obstacle to the latter becoming involved in the bidding process. The timing of reports that he has never truly been a candidate to buy the team are certainly noteworthy in light of his earlier actions, and the Post’s continuing mention of him as someone who could still play a part in a potential sale.

With Bezos presumably out of the running, two apparent finalists remain. One is Josh Harris, who was named as a prospective buyer after he toured the Commanders’ facility recently. The billionaire has an ownership stake in several pro sports teams, and took part in the bidding process for the Broncos last offseason. The identity of his primary competition as now been revealed.

Houston Rockets owner Tilman Fertitta is “involved in the bidding” on the Commanders, per the Washington Post’s Mark Maske and Nicki Jhabvala. That makes him the previously unidentified bidder who was mentioned as the one other than Harris to make a formal visit to the team’s facility with the bidding process close to its first major deadline. That has come and passed, and Maske and Jhavbala report that Fertitta placed a bid of just over $5.5BB; as a result, they add that the 65-year-old is not considered the frontrunner.

That figure falls in line with Standig and Kaplan’s assertion that Snyder’s asking price has come down from $7BB closer to the $6BB mark. The latter amount would still comfortably exceed the $4.65BB price tag on the Broncos from 2022, which itself shattered the North American sports record for franchise sales. The Athletic report adds that underwhelming bids could entice Snyder to simply remain his ownership stake, but also that activity surrounding a potential sale has “ramped up.”

Much is still to be determined in this situation, but Bezos being left out of the bidding process is a major takeaway from this latest set of updates. How much Harris and Fertitta are willing to pay for the embattled franchise will soon become clearer, though, if the previously reported goal of having a deal in place buy the March owner’s meetings holds true.

Commanders Notes: Snyder-Jones Relationship, Prospective Bidders, Potential Sale Timeline

February 21st, 2023 at 10:55am CST by Adam La Rose

The matter of a potential Commanders sale has been a talking point for months now, as the view other NFL owners take of Dan Snyder has worsened. That trend has stretched to even affect his Cowboys counterpart, Jerry Jones.

A bombshell report from October indicated that Snyder had dug up dirt on his fellow owners, as a means of providing leverage against a vote forcing him to sell his team. In the wake of that report – which the 58-year-old has denied – it was said that Jones still counted himself amongst Snyder’s supporters. That appears to still be the case, but relations between the two have changed.

“I would say we’ve had to be more formal in our conversations,” Jones said, via USA Today’s Jarrett Bell. “We’re not as cavalier as we might have been. Follow me? Don’t know who’s listening. Who’s what? So, we’ve had to be more formal.”

Jones added that Snyder is “not the most beloved guy around,” and that he wouldn’t be worth “taking a sword” for. That marks a notable stance potentially in favor of a sale, something which would likely go a long way amongst other owners, given Jones’ sway in that particular group and his reputation for supporting Snyder more than most.

Here are some other notes related to the Commanders and their hypothetical sales process:

Josh Harris, owner of the Philadelphia 76ers, New Jersey Devils and English Premier League club Crystal Palace, toured the Commanders’ facility earlier this month, per Ben Standig and Daniel Kaplan of The Athletic (subscription required). He did the same last summer as as prospective buyer of the Broncos, so this action signals his interested in becoming owner of the next NFL team to (potentially) go on the market. Around that same time, another, unnamed candidate toured the facility as well, according to the Washington Post’s Mark Maske, Nicki Jhabvala and Liz Clarke. This past Friday, another potential buyer did the same, Jhabvla tweets.
It was reported in December that an initial bidding process took place, one which notably did not include Amazon CEO Jeff Bezos. Providing clarity on that front, Standig and Kaplan note that that December process actually consisted of “non-binding indications of interest,” which do not require formal bids taking place. That is the next step, though, and is expected to take place soon. Once it happens, however, there may be a distinct lack of competition amongst prospective buyers. Lydia Moynihan of the New York Post reports that only two serious contenders remain in the running (including Harris, and not Bezos); they have each showed a willingness to reach the $6BB mark in a sales price, though liquidity would be an issue on Harris’ and the unnamed other bidder’s part at that value. One of Moynihan’s sources predicts Bezos will be courted late in the process given his significant advantage in terms of total wealth.
Speculation has persisted in terms of when a final decision will be made with respect to a sale being green-lighted, and then finalized. On that point, Fox Sports’ Jay Glazer notes that a deal will ideally be in place by the time the NFL’s owners’ meetings take place in late March (video link). That would allow the other owners to vote on and ratify a sale, as they did in the case of the Broncos last offseason, and presumably bring an end to the saga hanging over the Commanders.

Terrell Davis Joined Josh Harris’ Ownership Group; More Fallout From Broncos Bidding

June 14th, 2022 at 1:35pm CST by Sam Robinson

Although the Broncos went for an American sports-record $4.65 billion — to the Rob Walton-fronted group — last week, Walton’s was not the only bid that would have shattered the NFL record.

Josh Harris‘ group is believed to have bid between $4.25 billion and $4.5 billion, Mike Klis of 9News reports. Harris, who owns the Philadelphia 76ers and New Jersey Devils, was prepared to go $5 billion for the Broncos, according to Mike Florio of Pro Football Talk. But he was not assured Walton would not top that bid. That led to Harris’ group standing down, letting Walton’s bid win the historic sweepstakes. Harris is prepared to pursue ownership of another NFL team, Florio adds.

Tied to a net worth greater than $70 billion, putting him in position to be by far the NFL’s wealthiest owner, Walton had long been considered the frontrunner to acquire the AFC West franchise. Walton’s daughter (Carrie Walton Penner) and son-in-law (Greg Penner) are expected to run the day-to-day operations, Klis adds. Walton, 77, will continue to live in Arizona. Owners of the league’s other 31 teams will vote on this sale soon.

While Magic Johnson was part of Harris’ group, Klis notes Hall of Fame running back Terrell Davis joined that investment team as well. Davis, 49, starred for the Broncos in the 1990s, seeing a 1999 knee injury shorten his career, and played seven seasons with the team.

“They reached out; we talked,’’ Davis said, via Klis, of his affiliation with Harris’ bid. “They said they were interested in bringing me in as part of their ownership group and they wanted to know if the feeling was mutual. And it certainly was. And then it was waiting to see what would happen. I was on standby hoping for the bid, but obviously it never came.”

Latest On Broncos Ownership Bid Process

June 6th, 2022 at 9:06pm CST by Adam La Rose

With today’s deadline for second-round bids on the Broncos having come and gone, there are are few interesting developments regarding the ongoing sales process. Given what has already been reported on the subject, neither come as much of a surprise.

With the four remaining groups having placed their bids this afternoon, the prospective owner seen as the favorite to ultimately take over the team is the same as it has been presumed for some time now. Troy Renck of Denver7 reports that Walmart heir Rob Walton “remains the clear frontrunner” to win the bidding process (video link). He adds that Walton’s bid “could be upwards of $4.5B”. Walton has been seen as the likeliest candidate for months, and that figure would fall in line with the expected value of the team.

Walton – who, Renck also notes would become the NFL’s all-time wealthiest owner should he be successful – is competing against three other bidders. Those groups are led by 76ers and Devils owner Josh Harris, whose party also includes Magic Johnson, the trio of soon-to-be Chelsea owners which would be led by Jose Feliciano, and brothers Mat and Justin Ishbia. Up until this second round of bidding, media mogul Byron Allen was still in the running, but only the four finalists participated today. The process could very well be complete by the end of the month.

Regardless of who becomes the next owner, they could recruit a familiar face as part of the beginning of their tenure overseeing the franchise. Mike Klis of 9News reports that all four of the finalists have spoken to Peyton Manning “to gauge his interest” in becoming a minority owner or advisor to the team. The Hall of Fame QB has previously made it clear doing so is a distinct possibility, though that was before the identities of the prospective buyers were known. Klis adds that there is “no word” on what Manning is currently planning with respect to any potential role in the new ownership group.

With another key checkpoint being reached in the sales process, the exact terms of the pending deal – and the particulars of who will be involved in the new regime – will remain worth watching for in the coming days and weeks.

Second-Round Broncos Bids Expected In Coming Days

May 31st, 2022 at 8:53pm CST by Adam La Rose

The process of finding a new owner of the Broncos is approaching a crucial next step. 9News’ Mike Klis reports (on Twitter) that second-round bids for the franchise are due by Monday.

That places a firm deadline on the bidding process, which was expected to reach this stage in the near future. As Klis notes, four groups are expected to place a bid, with the lone exception amongst prospects previously reported as showing interest being the one led by media mogul Byron Allen. He was still considered to be in the running earlier this month, but the list of finalists would seem to no longer include his name.

That leaves the group led by Rob Walton at the top of said list; the Walmart heir has a personal value of more than $70MM, and has consistently been labelled as the frontrunner to win the bidding process. Among his competitors is the pairing of 76ers owner Josh Harris and Magic Johnson, the group involving Todd Boehly (which is in the process of purchasing English Premier League club Chelsea) and, the most recent addition to the mix, brothers Mat and Justin Ishbia.

In a follow-up, Klis details that if the group including Boehly were to be successful, he would be a “limited partner”. Instead, Jose Feliciano would be the lead owner, something which would satisfy the league’s desire for minority ownership in this process. While Klis further tweets that the trio involving Boehly, Feliciano and Behdad Eghbali would constitute surprise winners in the bidding process at this point, they remain in contention to make a second major purchase in a matter of weeks.

With the next round of bids – long expected to approach the $5B mark, which would comfortably set a new North American sports record – set to be made in the coming days, Klis reports that the sales process could be completed by late June or early July (Twitter link). That would stay in line with the overarching thought that a new owner would be in place in time for the 2022 campaign, and bring an end to one of the league’s top off-the-field storylines.

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