Mat Ishbia

Latest On Dan Synder’s Potential Sale Of Commanders

New information continues to develop concerning the possible sale of the Commanders franchise from current owner Dan Snyder. Our most recent report included an estimated value of $5.6BB with a potential sales price of up to $7BB. We also pointed out that it was still uncertain whether Snyder was determined to sell all of his stake in the team or whether he still desired to remain a part-owner of the Commanders.

Mike Florio of NBC Sports was able to provide an update to these points this past weekend, reporting that Snyder is determined to sell “all of it — not some of it,” contradicting an earlier report where he quoted Cowboys owner Jerry Jones‘ opinion that Snyder was simply “testing the waters” in an attempt to sell a minority interest in the team. This also makes a moot point of fellow NBC Sports contributor Peter King, who posed that if anyone were to buy a minority stake, it would have to include a clear path to eventually buying Snyder all the way out “in a defined number of years.” The goal is for the full sale of the team to occur by March of 2023.

The report also mentions that Snyder hopes to get the full $7BB amount for the franchise. Florio points out that achieving that $7BB amount would result in a profit of $6.25BB from his original purchase price of $750MM. Florio also points out that the odds of reaching that sales price become more and more likely as lots of interested buyers create the potential for a bidding war. One of the potential bids we had mentioned previously was a group that was rumored to be forming around Amazon founder Jeff Bezos and music mogul Shawn Carter, also known as rapper Jay-Z. Since that rumor began, a number of others have expressed interest in joining the bid. Actor Matthew McConaughey was reported to be exploring the possibility of joining Bezos and Carter or forming his own investment group to bid, according to Mark Maske and Nicki Jhabvala of The Washington Post. Nets star forward Kevin Durant is also reportedly hopeful to join the franchise’s ownership group, according to ESPN’s Nick Friedell.

McConaughey and Durant are both big fans of the Commanders and have some recent experience in franchise ownership. McConaughey is a co-owner of the Major League Soccer’s recent expansion team in Austin. Durant owns a 5% stake in the MLS’s Philadelphia club as well as a minority stake in the National Women’s Soccer League’s Gotham FC. Most recently, Durant became a co-owner last month of a pickleball team. Neither McConaughey nor Durant are in the financial position to lead a bid for the Commanders and would have to rely on an investment group to enter a bid.

Red Sox owner John Henry has also been seen as a possible bidder, according to Josh Kosman of the New York Post, after his recent efforts to sell the Liverpool Football Club. The UK-based soccer team is set to sell for around $2-3BB, a sum that could contribute to the eventual bidding war for the Commanders.

One of the finalists in the sale of the Broncos, mortgage company executive Mat Ishbia also reportedly plans to consider contending with a bid for Washington, according to Maske and Jhabvala. Ishbia issued a statement directly to The Washington Post claiming that he is “interested in exploring this opportunity further.”

The constant emergence of new names supports the prediction that a bidding war could easily drive the team’s price up to the $7BB price tag that Snyder covets. King, from above, suggested that, as “Snyder detests The Washington Post,” he would never want to sell to its owner, Bezos. Perhaps the sheer volume of other investors in the potential investment group will change his mind. If not, it doesn’t sound like Snyder will be lacking for interested buyers.

Mat, Justin Ishbia In Mix To Buy Broncos

The Broncos are down to five potential owners. Another of those groups became known Wednesday night. Brothers Mat and Justin Ishbia front a group that remains in contention to acquire the AFC West franchise, Mike Klis of 9News reports.

Mat Ishbia was a member of Michigan State’s national championship-winning 1999-2000 basketball team. He has since become quite successful in the mortgage business. The Ishbias toured the Broncos’ facility and met with team executives recently, Klis adds, noting Mat would be the controlling owner if this group makes the top bid. Mat Ishbia played three seasons with the Spartans, being on the Tom Izzo-coached team from 1999-2002. Yahoo Finance lists his net worth at around $11 billion.

This group joins the ones headed by Philadelphia 76ers owner Josh Harris and Magic Johnson, Walmart’s Rob Walton and longtime media mogul Byron Allen. Dodgers and Los Angeles Sparks part-owner Todd Boehly has been connected to this pursuit, but Klis notes it is not certain if he remains in the mix. Boehly has been in Europe finalizing his most recent high-profile acquisition, English Premier League club Chelsea. Allen has also yet to visit the Denver facility, but he remains in play to buy the team.

Walton was previously mentioned as the favorite here, while Harris’ group received the first tour. The team must accept the highest bid, one that is expected to approach or surpass $5 billion — a mark that would shatter the American professional sports record. Second-round bids for the Broncos have yet to take place, per Klis, but those offerings appear to be coming soon.