Amazon founder Jeff Bezos and Jay-Z will reportedly place an official bid to purchase the Washington Commanders in January.
The New York Post first reported the duo’s intentions two days after TMZ Sports said there was interest. Bezos and Jay-Z are longtime friends, with the latter having spent time on the billionaire’s yacht in September.
Commanders co-owners Dan and Tanya Snyder announced Wednesday that they had hired Bank of America Securities to explore a possible sale of the NFL franchise. The team released a statement, saying they are considering “potential transactions.”
“The Snyders remain committed to the team, all of its employees and its countless fans to putting the best product on the field and continuing the work to set the gold standard for workplaces in the NFL,” the team said in the statement.
Per Forbes, the Snyder’s already have four potential suitors interested. Dan Snyder bought the team for $800 million in 1999. The Commanders are worth $5.6 billion. That would break the record for the most expensive team in the NFL. The Denver Broncos sold for a record $4.65 billion over the summer.
Commanders Owner Dan Snyder Under Investigation From Congress
Congress is currently investigating Dan Snyder for the toxic workplace culture created within the organization during his ownership. The NFL, led by attorney Mary Jo White, is investigating Snyder for a second time. An initial investigation yielded a $10 million fine for the organization.
“Today’s news that Dan and Tanya Snyder are exploring selling the Washington Commanders is a good development for the team, its former and current employees, and its many fans,” said Lisa Banks and Debra Katz, who represent over 40 former employees of the Washington franchise, in a statement, via ESPN. “We will have to see how this unfolds, but this could obviously be a big step towards healing and closure for the many brave women and men who came forward.”
Any potential transaction must be presented to the NFL Finance Committee for review. Required is an affirmative vote by three-quarters of the full membership (24-of-32 teams).