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#pounditSunday, June 23, 2024

Report: Bid figures for Commanders may be exaggerated

Daniel Snyder on the field

Nov 5, 2017; Seattle, WA, USA; Washington Redskins owner Daniel Snyder watches pregame warmups against the Seattle Seahawks at CenturyLink Field. Mandatory Credit: Joe Nicholson-USA TODAY Sports

The Washington Commanders have received at least two record-breaking bids from prospective buyers, but it is possible the figures that have been reported are a bit misleading.

ESPN’s Adam Schefter and Brian Windhorst on Tuesday reported that two different investment groups — one led by Josh Harris and another led by Steve Apostolopoulos — have submitted offers of $6 billion each to purchase the Commanders. The bids are said to be fully funded.

According to Charles Gasparino of FOX Business Network, there is a lot more to it than that. Gasparino cited sources at this week’s NFL owners meetings who are skeptical about the actual size of any bids that have been submitted. The belief is that the $6 billion bids include “contingencies” that make the real value closer to $5 billion.

The Denver Broncos sold for $4.65 billion last summer, which is currently the record for an American sports franchise. Even a “real” $5 billion offer would still be a new record, but it might be below Commanders owner Daniel Snyder’s asking price.

We learned a week ago that a new bidder has entered the mix for the Commanders. Amazon founder Jeff Bezos has also had interest, and he has deeper pockets than anyone else who is involved.

While many believe Snyder could get cold feet and back out, his fellow NFL owners seem to want him gone. Indianpolis Colts owner Jim Irsay, who has called for Snyder to be removed as an owner, said Monday that he expects the Commanders to be sold in the coming months.

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