Commanders reportedly receiving bids above $7 billion for sale of franchise
The Washington Commanders could have a new owner very soon, according to a recent Forbes report.
A secret bidding process regarding the sale of the franchise is seemingly underway.
CBS Sports was the first to report, earlier this week, that the deadline for bidders interested in the team is Friday.
The Forbes reporter who broke the story that Dan and Tanya Sndyer hired Bank of America to explore a potential sale of the team, later confirmed by the franchise, came out with a new report that there have been multiple bids—some of them above $7 billion dollars.
Forbes currently has the team valued at $5.5 billion.
READ MORE: Washington Commanders, Dan Snyder hire Bank of America to consider selling team
"If he [Dan Snyder] were to sell the entire team, including the headquarters and all the real estate, to a very rich individual who wanted to, say, make the bidding process short and just knock out any potential rivals, it wouldn’t shock me if it went for $8 billion," said Michael Ozanian Forbes assistant managing editor, who wrote the article.
ARLINGTON, TX - OCTOBER 2: Washington Commanders owners Tanya Snyder, left, and Dan Snyder on the field before the Dallas Cowboys defeat of the Washington Commanders 25-10 at AT&T Stadium on October 2, 2022 in Arlington, TX. (Photo by John Mc
In terms of timing, Business Law Attorney Seth Berenzweig believes it all makes sense.
He said similar, large transactions can take three to six months to happen, and if there’s going to be a sale, Dan and Tanya Snyder may want to have some sort of meaningful update by the time the NFL owners meet in the spring.
READ MORE: Oversight Committee releases report on Commanders investigation
As for this reported deadline, Berenzweig points to a relative calm surrounding the organization right now since the House Oversight Committee investigation is done. And we don’t know much about the various investigations into the team.
"Dan Snyder also knows this will be the last perfect time that he'll have calm waters to negotiate from a position of power," Berenzweig said. "It’s very difficult to sell during a distressed sale."
While the potential sale price of the Commanders does not include the cost of a new stadium, in the long term, a new stadium could bring added value to the franchise after it’s built.