Daniel Snyder Reportedly Wants a Record $7 Billion To Sell the Washington Commanders

While the cost of an NFL franchise keeps rising, it is still quite affordable.https://www.boundingintosports.com/2022/11/president-of-flag-nick-adams-pitches-plan-to-purchase-washington-commanders-and-change-name-back-to-redskins/”>Washington Commanders‘ owner Daniel Snyder might be taking that even further than some might expect.

Since 1999, when he purchased the franchise from Jack Kent Cooke’s estate, the billionaire has been struggling. Over the years, he’s been happy to sign several high-profile free agents to the roster, only to see the vast majority of them end up becoming big-money busts.

During his time as the team’s owner, Washington has only made it to the postseason six times and has a combined 2-6 playoff record in that span.

While Snyder can never make up for those losses on the field, he’s apparently looking to recoup some of his financial failures — to the tune of $7 Billion. He’s on the lookout now for a buyer to take a majority interest in the team.

November  Snyder has been hired by Bank of America Securities To “explore potential transactions” With the franchise. Many believed at the time that Snyder wanted to add a minor partner for cash flow reasons.

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The initial offers received were not nearly what Snyder had hoped for. It’s been reported that none of the first rounds of bids exceeded $6.3 billion. Amazon founder and CEO is one of the favourites to buy the club. Jeff Bezos, didn’t even submit an opening bid.

Snyder would receive $7 billion if he is successful in obtaining the asking price. This would set a new record for a sports franchise, and it would cost $1.6 billion more than what the Denver Broncos were sold for last year.

It’s still widely believed that Bezos is the frontrunner to own the organization. He may need to move at a faster pace if he does. According to several reports, the D.C. area team could be sold within the next month.

A report from Front Office Sports Todd Boehly was also a co-owner of Los Angeles Lakers, Dodgers and Sparks. Clearlake Capital co-founders Behdad Eghbali and José Feliciano are also potential purchasers. John Henry, who is the owner of Fenway Sports Group also has the potential to purchase.

Forbes estimates that the Washington Commanders are worth $5.6 billion. The franchise was purchased by Daniel Snyder for an unprecedented $800 million in 1999.

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