Two groups submit $6 billion bids for Commanders

The Josh Harris/Mitchell Rales group, which now consists of Magic Johnson, formally sent a completely funded quote for the Washington Commanders that fulfills Dan Snyder’s $6 billion asking cost, a source informed ESPN’s Adam Schefter on Tuesday.

Canadian billionaire Steve Apostolopoulos likewise has actually sent a completely moneyed $6 billion deal for the Commanders, sources informed Schefter and ESPN’s Brian Windhorst on Tuesday.

If either quote is accepted, the offer would break the previous record sale for a franchise, embeded in August, when a group led by Walmart successor Rob Walton purchased the Denver Broncos for $4.65 billion.

Tilman Fertitta, owner of the NBA’s Houston Rockets, likewise has an interest in acquiring the Commanders. There is another confidential group that has actually visited the centers, also, numerous sources associated with the procedure have actually informed ESPN.

Once Snyder accepts a deal, he should send the bidder’s name to the NFL for approval. Three-quarters of the owners would require to authorize any sale.

The Harris Blitzer Sports and Entertainment likewise owns the Philadelphia 76ers and the New Jersey Devils. Harris and David Blitzer likewise own part of Crystal Palace Football Club of the English Premier League.

Harris, who matured in Bethesda, Maryland, co-founded Apollo Management in 1990, a property management company. He has a net worth of $5.8 billion, according to Forbes.

Rales, a D.C. billionaire, is likewise part of Harris’ group. Rales has a net worth of $5.5 billion, according to Forbes.

Apostolopoulos is the handling partner of Triple Group of Companies, a Toronto-based home management company. He likewise established Six Ventures Inc., a personal equity endeavor fund. Apostolopoulos co-founded Caary Capital with organization partner Jason Sawyer.

A Toronto local who went to Harvard, Apostolopoulos likewise had actually checked out purchasing the NBA’s Charlotte Hornets, prior to focusing entirely on the Commanders, sources informed ESPN.

His dad, Andreas, passed away 2 years earlier at age 69 with the household having a net worth of $3.9 billion, according to The Globe and Mail. He immigrated to Canada from Greece in 1969. He later on began his own business — one that cleaned up workplaces and later on a plastic bag production company. Eventually, he ended up being associated with realty, beginning Triple Group and constructing the household’s wealth.

Snyder led a group that bought the Washington NFL franchise in 1999 for $800 million.

Last fall, with numerous examinations continuous into the group’s office culture and financial resources, Snyder and his better half, Tanya, employed a company to check out offering part or all of the group. That came 2 weeks after Indianapolis Colts owner Jim Irsay stated there was “merit to remove” Snyder, which would take an extraordinary vote of 24 of the other 31 owners.

Also on Tuesday, NFL commissioner Roger Goodell repeated that the league will launch the findings of the Mary Jo White examination into Snyder, despite when the group is offered. Goodell has actually preserved this position because White started her examination in February 2022. She started by checking out an allegation made that month of sexual misbehavior by Snyder, and now she is examining monetary concerns, also.

“We made a commitment publicly, we made it in front of Congress, we made it to our clubs, so we’ll continue with that,” Goodell stated at the league’s yearly conference. He likewise stated the league’s owners were informed that White was “in the middle of her process.”

Shortly prior to Goodell attended to the media to conclude the yearly conference, Dallas Cowboys owner Jerry Jones stated he was great with the report being launched since, he stated, “I know everything in the report.”

Goodell stated, “That would be impossible, because the only person I know that knows anything about the investigation is Mary Jo White and her counterparts. Mary Jo White is incredibly thorough. She’s not giving access to anybody. I’m comfortable with that point.”

ESPN’s John Keim and The Associated Press added to this report.

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