Is there a $7 billion offer on the table for the Commanders?
When the news broke Thursday afternoon that Washington Commanders owner Dan Snyder had agreed in principle to sell the team to Philadelphia 76ers and New Jersey Devils owner Josh Harris, fans were elated.
Of course, the deal wasn’t final, as it was later reported to be nonexclusive and yet to be signed.
What does that mean?
It means someone can still contact Snyder and top Harris’ bid. That seemed unlikely, with Amazon founder Jeff Bezos telling those close to him he would not enter the bidding process.
Then there was Canadian billionaire Steve Apostolopoulos, who believes he remains alive in the bidding process, according to ESPN’s Adam Schefter. Houston Rockets owner Tilman Fertitta declared he would not raise his bid of $5.6 billion.
As it turns out, there may indeed be another bidder. Darren Haynes of WUSA 9 in Washington, D.C., reported Friday evening that former Duke basketball player and successful businessman Brian Davis made a $7 billion cash offer to Snyder to purchase the Commanders.
Last month, “The Sports Junkies,” from 106.7 The Fan in Washington, first mentioned Davis had placed a bid on the Commanders, but it was not mentioned again — until Friday.
In Haynes’ report, he mentions that Davis made his bid on March 21 and, according to documents obtained by WUSA, “is offering to pay the first $1 billion to Dan Snyder within 24 hours, and $6 billion within seven days.”
Wait, there’s more.
Davis is also willing to indemnify Dan Snyder as a condition of his offer, according to the March 21 letter, meaning Davis is willing to take on any legal liability related to Dan Snyder and ongoing investigations into the team.
Davis, a Bladensburg, Maryland native, played one season in the NBA and owns Urban Echo Energy LLC, a LEED-certified developer of renewable energy assets.
How did Davis accrue his wealth?
A source told WUSA9 that Davis raised the capital by selling his own intellectual property. During that time, private investors realized he had a $50 billion.
More from Haynes:
PART 2: valuation for his assets
& intellectual property. These private investors gave Urban Echo Energy, the company Davis owns, the capital upfront in a lump sum of money. They say, Davis is the first LEED green developer in America.— Darren M. Haynes (@DarrenMHaynes) April 15, 2023
The goal is for NFL owners to approve Washington’s sale at the next league meetings, which begin on May 22. That’s still five weeks away.
While Washington fans do realize Snyder is selling the team, this process may not entirely be over yet.
