• The Washington Business Journal reports that Amazon founder-chairman Jeff Bezos may be interested in being part of an ownership group that would acquire the Washington Commanders football team.
According to the story, "Dan and Tanya Snyder, the current co-owners of the NFL franchise, said Wednesday they had retained a Bank of America Corp. affiliate to 'consider potential transactions' related to the team. The Commanders have told multiple outlets they are 'exploring all options,' which would include an outright sale or the offering of minority stakes in the team.
"Dan Snyder and the franchise have been the subject of investigations into their workplace culture and business practices, as well as alleged sexual misconduct involving team personnel and Snyder himself. Snyder has repeatedly denied the allegations. That has all amplified pressure on the Snyders to sell.
"Dan Snyder purchased the franchise in 1999 for $800 million. Today, Forbes values the franchise at $5.6 billion, making it the sixth-most valuable team in the league. If the franchise sells for $5 billion, a 30% stake of that price — in this case, $1.5 billion — would have to be presented upfront. Three-quarters of the 32 NFL owners must also approve any sale."
The story notes that there likely will be a number of suitors looking to buy the team.