Tilman Fertitta

Latest On Commanders Bidders, Potential Sale Timeline

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

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.