• Loading stock data...
Thursday, December 12, 2024

Commanders Sale Could Hit $7B, Durant Wants In

  • A Washington Commanders sale could be wrapped up by the spring.
  • An NFL team executive said the team could fetch more than $7 billion.
Washington-Commanders
Geoff Burke-USA TODAY Sports

A Washington Commanders sale could happen quickly — and an NBA superstar is showing interest.

Sources told Front Office Sports team owner Dan Snyder could sell the entire franchise, a process could be completed by the spring.

  • Snyder hasn’t publicly committed to selling all or even a majority stake in the team, but hired Bank of America to explore a transaction. 
  • Amid concerns that the lawsuits and investigations Snyder is facing could jam up the sale process, sources indicated that the legal issues could actually prevent a protracted process
  • Snyder may be required to put a significant sum in an escrow account to cover penalties and damages that arise from investigations, including those from the Department of Justice, House Oversight Committee, attorneys general of Virginia, Maryland, and Washington, D.C., and the NFL.

Durant Wants In

Brooklyn Nets star Kevin Durant, a lifelong Commanders fan, told ESPN that he would like to be part of the next ownership group.

Durant is no stranger to team ownership: He owns stakes in the MLS’ Philadelphia Union, the NWSL’s NY/NJ Gotham FC, and a Major League Pickleball franchise.

The sale, which one NFL team executive told FOS could reach $7 billion, has already attracted at least five ownership groups.

Jeff Bezos, possibly in concert with Jay-Z, is expected to bid, as are entertainment mogul Byron Allen, New Jersey Devils and Philadelphia 76ers co-owner Josh Harris, and United Wholesale Mortgage CEO Mat Ishbia.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Nov 17, 2024; Chicago, Illinois, USA; Former quarterback and current NFL announcer Tom Brady looks on before the game between the Chicago Bears and Green Bay Packers at Soldier Field.

Tom Brady to Have ‘Huge’ Impact on Raiders, Says Mark Davis

“His role is undefined right now,” Davis said of Brady.

Bill Belichick to Take College Plunge at North Carolina

UNC made the official announcement late Wednesday.

NFL Scheduling Gambit Pays Off With Two Blockbuster Sunday Games

The Week 15 schedule has a game pairing seen only once since 1970.

F1’s TV Ratings Similar to 2023, but Still Below the Record Highs..

The F1 season averaged 1.1 million viewers in the U.S.

Featured Today

Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena

‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern

A season after Jontay Porter, the biggest risk may not be players.
Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
opinion
December 7, 2024

College Football’s Billionaire Backer Era Begins

Is this the new normal in CFB recruiting?
LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
December 6, 2024

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.
Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.
December 2, 2024

FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World

Resentment and frustration over expanded schedules is nearing a breaking point.
exclusive

Talor Gooch Using LIV Golf Fortune to Start Building Sports Empire

The golfer has made more than $43 million individually from LIV.
November 13, 2024

Why Liberty Media Spun Off Assets, Shook Up Leadership

Longtime CEO Greg Maffei is stepping down at the end of the year.
December 4, 2024

U.S. Firm Makes $310M Bet on Soccer by Forming Superagency

The U.S.-based investment company makes a significant play in international soccer.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
Oct 27, 2024; Seattle, Washington, USA; Buffalo Bills quarterback Josh Allen (17) passes against the Seattle Seahawks during the second quarter at Lumen Field.
October 30, 2024

Buffalo Bills in Talks to Sell Stake to PE Firm Arctos: Report

Arctos already has a slice of Paris Saint-Germain and the PGA Tour, among other assets.
Jul 7, 2021; Tampa, Florida, USA; Tampa Bay Lightning owner Jeff Vinik hoists the Stanley Cup after the Lightning defeated the Montreal Canadiens 1-0 in game five to win the 2021 Stanley Cup Final at Amalie Arena.
October 25, 2024

Lightning Sell at $1.8B Valuation, Nearly Double Prior NHL Record

The Lightning unveiled a multistep and multiyear sale process.
May 24, 2024; Minneapolis, Minnesota, USA; Dallas Mavericks owner Mark Cuban celebrates after defeating the Minnesota Timberwolves in game two of the western conference finals for the 2024 NBA playoffs at Target Center.
October 9, 2024

Why Mark Cuban Sold the Dallas Mavericks When He Did

Cuban sold his majority stake to the Adelson family in December 2023.
Young fans look over Michigan State sports equipment on display during the Spring Showcase on Saturday, April 20, 2024, at Spartan Stadium in East Lansing.
October 2, 2024

Private Equity Firms Buy Rival Hockey Brands CCM and Bauer

Both brands have been around for decades and changed ownership in the same week.