Amazon founder Jeff Bezos is ready to sell the Washington Post newspaper in order to raise enough funds to bid for the Washington Commanders of the NFL.
Back in November, the Commanders announced controversial owner Dan Snyder had hired Bank of America to explore the sale of the team, although it is unclear if he would sell the entire team or just add a minority partner to the mix. The 58-year-old has owned the Washington franchise since 1999.
Since he bought the franchise, Snyder has endured a reign littered with accusations of a toxic workplace culture, as well as the lack of success sustained by the team. He is reportedly chasing a fee of $7billion in any total sale of the Commanders.
Bezos has expressed interest in owning an NFL franchise for some time and has ties to the area. The 58-year-old became the leading contender to purchase the Washington franchise, although a joint bid with Jay-Z appears to have come to nothing.
Even without the rapper, Bezos is in pole position to land the team given he is one of the richest people in the world with a net worth of $124bn. The Commanders are reportedly valued at roughly $5.6bn after Snyder bought the team for approximately $800million 24 years ago.
According to the New York Post, Bezos is looking to sell the Washington Post in order to help facilitate a move for the Commanders. He bought the Post back in 2013 for $250m and is reportedly in negotiations to sell after a leaked video from a town hall meeting of employees showed a conversation on looming layoffs in the first quarter of 2023.
However, NBC Sports Washington recently reported the Snyder’s preferred not to sell to Bezos after the Washington Post's coverage of the Commanders in 2020. It will be interesting to see what happens next in this saga, although fans of the Commanders will hope it gets sorted soon after the team missed the playoffs.
If Snyder agrees a deal to sell the Commanders, the sale would still need to be approved by at least three-quarters of the league's other owners per NFL regulations. The Commanders last hoisted the Lombardi Trophy back in 1992 and are reportedly viewed by potential investors as a sleeping giant given their market.
Commanders fans will be desperate for Snyder to sell as the three-time Super Bowl champions have reached the playoffs just six times since 1999, and current head coach Ron Rivera is the 10th to take the helm since Snyder bought the franchise. The team went 8-8-1 in 2022, finishing bottom of the alarmingly competitive NFC East.
Todd Boehly is also reportedly in the running to bid for the team. The American owns stakes in Major League Baseball franchise Los Angeles Dodgers and the WNBA’s Los Angeles Sparks, and he set the record for the most expensive sports team purchase when he paid $5.3bn for Chelsea FC in May 2022.
The record for the most expensive NFL team purchase was also set this year - when the Denver Broncos were bought for $4.65bn.
