Amazon founder Jeff Bezos was not allowed to make a bid for the Washington Commanders, the team’s banker, Bank of America, told the billionaire, a person briefed on the sale process said. Athletic.
The person added that the ban on pesos from bidding has been a reality for months.
Bezos owns the Washington Post, which published a series of stories documenting a culture of sexual harassment at the group, which helped build pressure to eventually sell. But beyond that, team owner Daniel Snyder has long felt that, for years, the newspaper tried to force him out of the NFL.
“It’s a free country and he can sell to whoever he wants,” the person said of the sale process. Bezos, barred from bidding, could not access the team’s finances.
Friday’s New York Post first reported the news In addition to keeping Bezos out of the sale process, Snyder said the Commanders owner could decide to maintain control of the franchise, which he has held since 1999, if the bids don’t reach his desired price.
However, a person close to the situation said Athletic Activity with potential sales is “increased.”
Athletic A Washington Post report confirmed that Bezos is working with banking firm Allen & Co.
Chiefs coach Ron Rivera ended a months-long search for an offensive coordinator last week. The new hire sought clarity on the franchise sale during a meeting with former chiefs OC Eric Bainemi, Rivera and board president Jason Wright.
“That’s an area I have to answer for sure,” Wright said Thursday after Bieniemy’s introductory press conference. “That’s my job, right? I am very close to it all. Eric, like us, sees the change as good for the company … there’s no other upside for the company and we’ve already had a lot of success rebuilding the football side of the business where we started. When Ron took over.”
Bezos did not make any offers in the first round of auctions that ended recently.
Those bids were said to have been less than $6 billion, though some sports banking and legal experts said the figure could have been higher.
Earlier, the market was told that Snyder would not accept anything less than $7 billion, a figure that has now dropped to $6 billion. That’s still $1.35 billion more than the Denver Broncos sold last year, a record for a professional sports team. While the Broncos are in a small market, their attendance and market reputation is among the worst in the NFL.
Under intense pressure to divest the club following a wave of scandals and negative attention, Snyder announced in November that he had retained Bank of America, which would lead to a full or partial sale of the team, although doubts persisted that he would follow through. By.
Those doubts would be further fueled if Bezos was excluded, and the bids would not have reached Snyder’s preferred threshold.
One sports attorney said Snyder would create an unrealistic price range, alienate a wealthy bidder and keep the team from selling.
One bidder is Philadelphia 76ers, New Jersey Devils and Crystal Palace partner Josh Harris. Other potential bidders reported in the Broncos as underdogs include media investor Byron Allen and the founders of Clearlake Capital, Behdad Ekbali and Jose Feliciano. Harris also bid on the Broncos.
Athletic Earlier, Harris recently toured the team facilities. There have been two rounds with prospective bidders, a person close to the situation said Athletic.
Wright said he asked Benemi questions about Washington’s principals, and the team eventually sought information from the new play-caller.
“Of course, I’m asking about stability, organization and transaction process and sales and all of that,” Wright said. “For someone who will be a close colleague and a committed leader to lead us to the championship, it’s important to be able to respond to them.”
Commanders and Snyder are the subject of an NFL-led investigation into sexual harassment and workplace misconduct, as well as concerns he withheld revenue he was supposed to share with other owners. Both are overseen by former Securities and Exchange Commission Chairman Mary Jo White.
It’s been more than a year since the NFL placed an investigation into White, and NFL commissioner Roger Goodell has repeatedly said the league has no control while its investigations conclude. Some believe that if Snyder sells, he could be sidelined based on the results of the studies or threatened with release if he is prevented from selling.
Colts owner Jim Irsay became the first of Snyder’s colleagues to publicly say he deserved to be fired at the league’s fall meetings last year, telling reporters in New York that there would be enough support from other owners to remove Snyder.
24 of the 32 owners must vote to eject one of their peers, a feat unprecedented in any league in America.
If it comes down to it, Snyder is sure to argue the team can’t get a fair price because he’s forced to sell, and the bidders know that, said one sports investment banker, who spoke on condition of anonymity because he did the business. Passed with the team. NFL owners would love to see a higher price because it hurts their own franchise ratings.
It’s unclear how Bezos fits that description. It’s always possible the NFL pressured Snyder to let Bezos make the bid.
Bezos’ Amazon partners with the NFL through Thursday Night Football broadcasts. There’s even talk that Bezos might sell the Post, though it’s uncertain whether that’s enough for Snyder and his visceral distaste for anything connected to the newspaper.
(Photo by Jeff Bezos: Jay Biggerstaff / USA Today)