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Tuesday, April 16, 2024
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Executives

Commanders Investigations Reveal More Financial Concerns

  • Contenders include Amazon founder Jeff Bezos, 76ers and Devils owner Josh Harris, and Rockets owner Tilman Fertitta.
  • Mary Jo White investigation looms over Commanders sale.
Dan Snyder investigations
Brad Mills-USA TODAY Sports

Washington Commanders owner Dan Snyder is inching toward a world-record payday from the sale of a sports franchise.

But the process has been shrouded in mystery due to confidentiality agreements between the serious contenders, which include Amazon founder Jeff Bezos, Philadelphia 76ers and New Jersey Devils owner Josh Harris, and Houston Rockets owner Tilman Fertitta. 

And there’s been another process that is understandably even more opaque: the league’s second outside investigation, led by former SEC chief Mary Jo White. 

Sources told Front Office Sports that White had uncovered more financial concerns than have been reported to date.

While controlling owners can tap team revenues, sources told FOS Snyder is thought to be one of the few owners — maybe the only one — in the league to pay himself a salary. Snyder’s was $10 million before the start of the pandemic, which prompted him to forgo his salary. 

Last year, Snyder’s old salary was back along with what one source called a “substantial” raise. While that’s not against league rules, White is looking into whether any loans — including the $450 million the NFL approved in 2021 that allowed Snyder to buy out three co-owners — were used improperly.

A Commanders’ spokesperson called “the characterization of the White investigation 100% false.” The NFL declined to comment on this story.

Read more of A.J. Perez’s report.

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