Commanders Owner Dan Snyder has reportedly asked for $6 billion to purchase his football team. Now, a group, including Magic Johnson, has submitted a bid matching that exact number.
The group making the bid includes Philadelphia 76ers Owner Josh Harris, defense contractor Mitch Rales, and NBA legend Magic Johnson.
ESPN’s Adam Schefter was the first to report the news:
The Josh Harris/Mitchell Rales group, which nows includes Magic Johnson, officially has submitted a fully-financed bid that meets Dan Snyder’s $6 billion asking price, per source.
— Adam Schefter (@AdamSchefter) March 28, 2023
The reported $6 billion bid exceeds that of Houston Rockets Owner and restauranteur Tilman Fertitta, who offered $5.6 billion for the franchise.
Both bids exceed the record of $4.65 billion set last year when the Denver Broncos were sold to the Walton-Penner Group.
The X-factor in the bidding process is Amazon founder and Washington Post Owner Jeff Bezos. Bezos can outbid Fertitta or the group, including Magic Johnson. Though Bezos has yet to make an offer, some wonder if Snyder would even accept his bid due to hard feelings stemming from the negative coverage the Bezos-owned Washington Post has given Snyder over the years.
Jeff Bezos looks on from the sidelines before kickoff between the Kansas City Chiefs and Los Angeles Chargers at GEHA Field at Arrowhead Stadium on September 15, 2022, in Kansas City, Missouri. (Cooper Neill/Getty Images)
Though, as the Washington Post reports, the amount or source of the money may not even be the biggest hang-up. Snyder, who is facing investigations into financial improprieties and workplace harassment from multiple state and federal agencies, is seeking to be secured against any future legal liability by the league.
The uncertainties over Snyder’s legal situation suggest that even after receiving bids matching his asking price, the sales process could drag on for several more months.