A $7B offer to buy the Commanders by a DC native is still in play, source says
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Friday, 14 April 2023 16:23
The Washington Commanders sale may not be as finalized as reports indicated Thursday evening, according to new information obtained by WUSA9.
Bank of America -- the group handling sale offers for Dan and Tanya Snyder -- was still in communication with at least one of the other bidders as of 8:30 p.m. Thursday, asking if they were available to proceed with their offer, according to a source close to the deal.
The bid being discussed was made by D.C. native Brian Davis, as a $7 billion cash offer. Bid details were first reported in March by "The Sports Junkies" on 106.7. Documents obtained by WUSA9 confirm the financial details of the bid made by Davis on March 21. According to the documents, Davis is offering to pay the first $1 billion to Dan Snyder within 24 hours, and $6 billion within seven days.
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.
Sources said Thursday afternoon that Dan Snyder had reached an agreement with an investment group led by billionaire Josh Harris, to sell the team for $6.05 billion; the deal would be the highest price paid for a North American professional sports franchise. Forbes estimates the team is worth $5.6 billion.
Harris, a co-owner of the Philadelphia 76ers, joined Maryland philanthropist Mitchell Rales and NBA great Magic Johnson to pull together their bid. The deal was reported to be non-exclusive, meaning someone else could come into the ownership group.
FULL STORY: https://www.wusa9.com/article/sports/nfl/washington-commanders/washington-commanders-sale-offer-duke-basketball-player-brian-davis-7-billion-dollars/65-09092802-78a9-48c6-a07b-c021415dad3a