Report: Dan Snyder holding out for another bidder for Commanders
Washington Commanders owner Dan Snyder is holding out for another offer and waiting to see if one more bidder can drive up the price as he mulls a sale of the franchise, according to a report.
Front Office Sports reported Monday that the embattled billionaire is “hoping there’s enough curb appeal for another bidder to enter the picture” and isn’t ready yet to accept an offer from Philadelphia 76ers owner Josh Harris.
Snyder has received at least two formal bids for the Commanders that are reportedly worth $6 billion each. One is from a group led by Harris — the private equity mogul who also owns the 76ers and NHL’s New Jersey Devils. The other is from Canadian billionaire Steve Apostolopoulos. The offers reportedly had met Snyder’s asking price for the team, but no deal has been reached.
The Commanders have been on the market since at least November, when the team announced that Snyder hired an investment bank to explore “potential transactions.”
Team President Jason Wright told The Washington Times last month that a forthcoming sale will be a “substantial boost” for the franchise. The executive appeared convinced that a sale will happen as he shot down a question about whether Snyder was too far down the road to change his mind and hold on to the team.
“I don’t know what indicators they’re giving that they’re not (selling),” Wright laughed. “What signal are they giving that they’re not selling the team?”
It’s unclear if another bidder will emerge to pursue the Commanders. Amazon founder Jeff Bezos has been long linked to the team, but there have been conflicting reports over whether the CEO is interested in the franchise, as well as whether Snyder would try to bar the billionaire from submitting a bid.
Puck News reported last week that Snyder and Bezos talked over the holidays about the franchise.
“If you [expleitive] tell me that Bezos puts in a bid that is $250 million more than anybody else and Dan won’t take it, you’re smoking dope,” a source who knows Snyder “well” told the outlet. “Dan will give Bezos a piggyback ride around the building on opening day next year for $250 million, OK?”
