Billionaire Jeff Bezos Backs Out of Bid For Commanders
The long-rumored interest by Amazon founder Jeff Bezos to purchase the Washington Commanders fizzled out Wednesday when the ultra-billionaire backed out of the bidding war.
First reported by Puck News, Bezos will no longer pursue purchasing the downtrodden NFL team and delivering its fan base from contested owner Dan Snyder.
(Photo by Jonathan Newton/The Washington Post via Getty Images)
Two bidding groups remain. Philadelphia 76ers and New Jersey Devil owner Josh Harris submitted a bid for the team. Harris’ investment group includes famed Laker Magic Johnson. Canadian billionaire Steve Apostolopoulos is also pursuing ownership of the Commanders.
(Photo by Patrick McDermott/Getty Images)
Dan and Tanya Snyder reportedly set their asking price for the franchise at $6 billion. The two remaining groups have met the price. Houston Rockets owner Tilman Fertitta was rumored to be interested in purchasing the team. Fertitta's bid was not willing to exceed $5.6 billion.
In February, Bezos drove up rumors of his interest in buying the Commanders after he hired New York banking firm, Allen & Company, to explore the possibility. Bezos also reportedly met with rapper Jay-Z to bring him in as a potential investment partner.
Bezos’ personal publication, The Washington Post, has published scathing reports on Snyder’s contentions as owner.
RELATED: DAN SNYDER WON’T SELL COMMANDERS TO JEFF BEZOS, ISN’T A FAN OF THE WASHINGTON POST
From allegations of workplace misconduct to sexual harassment, WaPo has been at the forefront of putting Snyder’s possible misdeeds under a microscope.
Snyder purchased the then-named Washington Redskins in 1999 for $750 million.