Amazon founder Jeff Bezos is interested in purchasing the NFL’s Washington Commanders and music industry icon Jay-Z might join him as an investor, according to multiple US media reports.
The Washington Post and People magazine, each citing unnamed sources, said Bezos was considering a bid and Jay-Z, whose real name is Shawn Carter, might partner with him.
Bezos owns the Washington Post and is executive chairman of Amazon, which is in the first season of a streaming deal for Thursday night NFL games worth a reported $1 billion.
The reports come after Commanders owners Dan and Tanya Snyder said on Wednesday that they have retained a firm to “consider potential transactions” involving the club.
Bezos was not known as a bidder for the most recently sold NFL team, the Denver Broncos, who were purchased from the trust of the late owner Pat Bowlen by a group led by Walmart heir Rob Walton for $4.65 billion, a record purchase price for any North American sports franchise.
NFL owners ratified the sale in August, making Walton the NFL’s richest owner, a mark Bezos would eclipse should he purchase the Commanders.
Forbes magazine lists Walton’s net worth at $59.2 billion while Bezos ranks as the world’s fourth-richest person at $113.2 billion.
In August, Forbes estimated the Commanders are worth $5.6 billion.
In September, Bezos attended the first NFL game in Amazon’s new telecast deal at Kansas City.
Another person the Post reported is interested in the Commanders is Byron Allen, owner of Entertainment Studios, also known as Allen Media Group.
Allen, a bidder for the Broncos, would be the first Black majority owner of an NFL team.
Dan Snyder is under investigation by the House of Representatives oversight and reform committee, the NFL and attorney generals in Virginia and Washington DC regarding allegations of financial misdeeds.
Embattled Washington Commanders owner Dan Snyder and his wife Tanya are exploring purchase deals for the NFL club, according to a team statement released Wednesday.
Snyder, dogged by accusations of a toxic workplace culture, bought the team and its home stadium in 1999 for $800 million.
Forbes magazine in August ranked the Commanders as the NFL’s sixth-most valuable team at $5.6 billion despite issues surrounding Snyder.
“Dan and Tanya Snyder and the Washington Commanders announced today that they have hired BofA (Bank of America) Securities to consider potential transactions,” the statement from the Commanders said.
“The Snyders remain committed to the team, all of its employees and its countless fans to putting the best product on the field and continuing the work to set the gold standard for workplaces in the NFL.”
Left unclear was exactly how much of the club might be for sale or if a minority investor would be involved in a takeover effort.
The most recent NFL team sold was the Denver Broncos, who were bought for $4.65 billion in August.
The statement followed a Forbes magazine report Wednesday that said at least four groups have expressed interest in purchasing the Commanders and that Snyder was exploring all options for a complete sale or a minority stake purchase.
Snyder bought out all of his minority partners last year to take full control of the NFL team, which hasn’t won a playoff game since 2005.
Snyder has taken verbal abuse at games from fans complaining about the state of the franchise, which has won three games in a row to stand 4-4 in the current campaign.
The Washington Post reported in July 2020 that 40 women who were former employees of the club had been sexually harassed by Snyder and others within the organization.
An independent investigation into the matter concluded in July 2021 and found bullying, intimidation and sexual harassment were commonplace within the NFL team’s workplace.
The league fined the team $10 million and Snyder gave day-to-day operational control of the team to his wife.
In July of this year, Snyder testified before a US House committee regarding its probe into the Washington team’s workplace.
The committee also looked into reports Snyder under-reported ticket sales to the league, a move that would have allowed him to keep more ticket revenue.
‘Simply untrue’
ESPN reported on Wednesday that the US Attorney’s office for the Eastern District of Virginia had launched a criminal investigation into alleged financial improprieties by the Commanders, citing unnamed sources.
A House committee’s letter to attorneys general in April alleging deceptive business practices by the club triggered the probe, according to the report.
The league told ESPN that a probe by the league started in April remains ongoing while a statement from attorney John Brownlee from a law firm representing the Commanders denied any wrongdoing.
“It is not surprising that ESPN is publishing more falsehoods based solely on anonymous sources — given today’s announcement,” the statement said.
“We are confident that, after these agencies have had a chance to review the documents and complete their work, they will come to the same conclusion as the team’s internal review — that these allegations are simply untrue.”
Snyder had once vowed that his team would never change its controversial “Redskins” nickname but in 2020 after several advertisers urged a change and some stores stopped selling team apparel, the team was rebranded as the Washington Football Team before adopting the Commanders moniker early this year.
Snyder also had once vowed never to sell the team.
Indianapolis Colts owner Jim Irsay said last month that there was “merit” in Snyder no longer owning the Commanders, saying that was “something that has to be given serious consideration.”
According to Forbes, the Top 20 Owners are collectively worth $509 billion, and there are eight of the top owners in the world of football.
Due to the NFL’s recent transition to a new ownership group, a rookie is on the list. Rob Walton, an heir to Walmart, is among the three richest owners and is represented on the list by his team. Jerry Jones of the Dallas Cowboys is ranked No. 12, Stanley Kroenke of the Los Angeles Rams is ranked No. 13, and Robert Kraft of the New England Patriots is ranked No. 13 on the list of NFL owners. (No. 17).
Here are the top 5 sports franchise owners in the world as of 2023:
5. New York Red Bulls, RB Leipzig, Red Bull Racing—Mark Mateschitz
Dietrich Mateschitz, the company’s founder, and his passion for adventure and action sports are why Red Bull has evolved into much more than an energy drink brand. His 49 per cent ownership in Red Bull increased Mateschitz’s net worth to $34.7 billion when he passed away in October, leaving it to his only son, Mark. The New York Red Bulls, RB Leipzig, Red Bull, and its feeder squad AlphaTauri are all part of the Red Bull sports empire and the Formula 1 championship team Red Bull.
4. Stade Rennais FC—François Pinault & family
François Pinault, a businessman from France, is worth $40.1 billion. As a maker of building supplies, he established Kering in 1963. Since then, it has developed into a luxury conglomerate comprising companies like Bottega Veneta, Yves Saint Laurent, and Gucci. In 1998, he bought Stade Rennais FC, a Ligue 1 football team. Paris Saint-Germain, the team coached by Neymar and Messi, is one of the teams his ownership company, Artémis, has assembled that consistently finishes in the league’s top half.
3. Denver Broncos – Rob Walton
Rob Walton, a Walmart heir, not only makes the list but also shakes it up after he bought the Denver Broncos for an NFL-record $4.65 billion in June. Condoleezza Rice, a former secretary of state, and Lewis Hamilton, a Formula 1 driver, are also part of the ownership group led by Walton, a businessman with a net worth of $57.6 billion. Sean Payton, a former Super Bowl champion, was hired by him this offseason to become the team’s new head coach, making a big impression.
2. Los Angeles Clippers—Steve Ballmer
Steve Ballmer previously held the top spot on the list. Still, the former Microsoft executive’s net worth recently dipped to $80.7 billion due to a decline in the software company’s stock value. The Los Angeles Clippers’ new facility will have the most toilets in the NBA, which he is quite thrilled about, and it’s still enough for him to be the second-richest sports owner in the world. Ballmer purchased the franchise for $2 billion in 2014.
1. Mumbai Indians—Mukesh Ambani
The total wealth of Mukesh Ambani is $83.4 billion. He owns the Mumbai Indians, a team in the Indian Premier League cricket. The team has established a reputation for excellence worth $1.3 billion. Since the IPL’s start in 2008, it has won five championships, including consecutive victories in 2019 and 2020. Reliance Industries member Ambani owns the team. Through the company, he also owns franchises in South Africa and the United Arab Emirates and a side in the freshly established Women’s Premier League.
US lawmakers say NFL aided Commanders toxic culture cover-up
Washington Commanders owner Daniel Snyder “permitted and participated in” a troubling toxic workplace culture for decades, and the National Football League failed to protect workers from sexual misconduct, US lawmakers declared Thursday.
The findings were outlined in a 79-page report released by the US House of Representatives Committee on Oversight and Reform.
“The NFL’s handling of toxic workplace conduct shows the need for increased oversight and legislative reforms to protect workers,” the report said.
A 12-month probe was launched last year after the NFL refused to release the results of an internal investigation by attorney Beth Wilkinson, who found bullying, intimidation, sexual harassment and inappropriate conduct by executives of the team, formerly known as the Redskins.
“Commanders’ leadership perpetuated a toxic workplace culture by ignoring and downplaying sexual misconduct by senior male employees,” the report said.
“Dozens of employees at the Commanders were harmed by a toxic work culture for more than two decades. The team’s owner permitted and participated in this troubling conduct.”
The report said workplace misconduct was “rampant” under Snyder’s ownership.
He intimidated witnesses, blocked the production of more than 40,000 requested documents and obstructed the Congressional inquiry, it said.
“Rather than seek real accountability, the NFL aligned its legal interests with Mr. Snyder’s, failed to curtail his abusive tactics and buried the investigation’s findings,” the report said.
Snyder refused to appear at a public hearing but ultimately agreed to a private deposition during which he claimed more than 100 times that he could not recall answers, even to basic details about his role as owner.
The report said the NFL refused to reveal the full scope of the findings of the prior probe — which resulted in a $10 million fine and Snyder retreating from day-to-day team operations — and did not hold Snyder accountable for his actions.
“The NFL was aware of serious interference with the Wilkinson investigation but failed to take action to stop it,” the report said.
“The committee’s investigation shows that the NFL has not protected workers from sexual harassment and abuse, has failed to ensure victims can speak out without fear of retaliation and has not sought true accountability for those responsible, even after decades of misconduct.
“Congress should act swiftly to address these deficiencies and protect workers across the United States.”
Bills under consideration
There are two bills before the House of Representatives to better protect workers as a result of the Commanders investigation.
One would ban any agreements as a condition of employment that would limit a person’s ability to disclose workplace harassment, discrimination or retaliation.
The other would require employers to obtain consent from employees before using their images.
NFL commissioner Roger Goodell supported both measures when he spoke with the committee.
The Congressional report concluded by saying US lawmakers should consider other reforms, including demonstrated compliance with state and federal employment laws as a condition to keep federal antitrust exemptions and tax-exempt municipal bonds used to finance stadium construction and renovation.
‘Professional and supportive’
“The NFL is committed to ensuring that all employees of the NFL and the 32 clubs work in a professional and supportive environment that is free from discrimination, harassment or other forms of illegal or unprofessional conduct,” NFL spokesman Brian McCarthy said in a statement.
“The NFL and the 32 clubs have implemented substantial and effective programs to advance this commitment at all of our facilities.”
McCarthy said workplace reviews have shown significant improvement with the Commanders in workplace culture issues.
Commanders attorneys John Brownlee and Stuart Nash said in a statement that Congressional investigators “were not interested in the truth” and that the report was “the predictable culmination of that one-sided approach.”
The attorneys declared the committee “is far more interested in blaming Mr. Snyder than actually investigating the underlying allegations” and added “the team is proud of the progress it has made in recent years in establishing a welcoming and inclusive workplace.”
Tesla billionaire Elon Musk came on Twitter recently and announced that he intends to purchase the troubled football club. The comments under Elon’s tweet are as vicious as to how Manchester United was beaten lately.
According to reports, the unfortunate start to the season for Manchester United, with the humiliation of a 4-0 score against Brentford, has sparked discontent among the club’s fans towards its operations.
One user commented that it would be better for Elon to purchase an American football club. Little did he know, Manchester United on its own has over 300 million fans world wide and that makes it bigger than any American football clubs there is.
Manchester United has over 300million supporters worldwide. The only team that will fill any stadium anywhere on this planet. That's why the glazers bought united and tried to create a franchise because @ManUtd is bigger than American football. Period.
The internet is sceptical of Elon’s statement as a few months back he did the same for Twitter, and yet he declined purchasing it. Twitter is bringing the billionaire to court in October for trying to cancel the $44 billion deal of purchasing it.
However, the fans of the troubled club tweeted, asking him to consider buying Manchester United. Now with Manchester United’s market cap being valued at $2.08 billion, it is still a hefty tag for Elon to pay.
Manchester United’s current owners the Glazer family has received numerous backlash from fans since their purchase of the club in 2005. This fueled the anger in fans especially after the club’s failed attempt at establishing a breakaway from the European Super League in 2021.
It is pretty unclear on what Elon thinks on the new coach Eric ten Hag’s controversial decisions that aren’t making too many happy. The same could be said about his thoughts if Cristiano Ronaldo should either stay or be allowed to leave the club.
Decisions like these may fall on him in the near future, only if he sticks through it and the purchase is successful.
Currently, the predicaments the club is facing needs to be solved by the coach, who by all accounts has been making the wrong decisions that led to this troubling times.
Hag will be fortunate if Manchester United reaches a place in the top 10 if the Glazers aren’t realising that they’re in troubled waters. They qualified for the Europa League 2 months ago, but the coach is already facing issues with the time needed to coach the team he just got into.
For the past decade, the current owners had spent a large sum of money in terms of buying new players, unfortunately bad decisions were made. But the current coach needs support from the club’s owners in order to beef up the team with newer, stronger players.
The main question here is, after all the problems the club is facing, will Elon Musk be able to handle it all? Or will he just go on another Twitter rant about the club after purchasing it?
Man Utd For Sale At A Minimum £3.75 billion Price Tag
This week, the embattled Glazer family, the American owners of Manchester United, have finally set the price for the club, indicating they are willing to sell their entire stake in the soccer giant.
It is in response to mounting pressure to sell the team that the Glazers have placed a minimum £3.75 billion price tag on Manchester United.
Fans and businessmen pressed the Glazer family to sell the club with demonstrations joining former United star Gary Neville in calling for them to give up control of Old Trafford.
The club has never seen such anger and protests against its owners, an unprecedented situation after the two defeats of the club in this year’s Premier League openers.
The 4-0 defeat to Brentford was the straw that broke the camel’s back so to say and now the Glazers have finally spoken.
They bought the team for £790 million in 2005.
Sir Jim Ratcliffe, the richest man in Britain and a lifelong fan, recently made headlines by expressing interest in purchasing his favourite team. Now, it’s rumoured that business moguls from Dubai are considering making a move.
However, there are fresh talks that the group from Dubai is tipped to join the Premier League party, after Abu Dhabi – Manchester City – and Saudi Arabia Newcastle.
The sale price could go up to £5 billion.
The bidding is on and with Ratcliffe’s offer to buy the club, it appears the Glazers will not be holding sway for too long.
Ratcliffe owns INEOS and French club Nice and his spokesperson told the Times : “If the club is for sale, Jim is definitely a potential buyer. If something like this was possible, we would be interested in talking with a view to long-term ownership.
“This is not about the money that has been spent or not spent. Jim is looking at what can be done now and, knowing how important the club is to the city, it feels like the time is right for a reset.”
It appears the situation at Manchester United is thus evolving beyond the Elon Musk joke.
