Friday is the deadline for bidders to present final offers to buy the Washington Commanders.
NBC Sports Washington reported five — and as many as seven — bids are expected. Forbes reported bids exceed $7 billion, which would include the team, FedEx Field and surrounding acreage, and 150 acres at the team’s headquarters in Ashburn, Va.
In August, Forbes valued the Commanders at $5.6 billion, without the real estate.
Owners Daniel and Tanya Snyder hired Bank of America Securities last month to explore the possibilities for the sale of all, or part, of the Commanders last month. Facing federal scrutiny into the operation of the team, as well as the wrath of some fellow owners, the Snyders have not come out and expressed their intention with the franchise.
In May 1999, Daniel Snyder-led ownership group bought the Washington football team and what then was known as Jack Kent Cooke Stadium for $800 million, which the Washington Post reported at the time was a record price for a U.S. sports franchise.
A sale of the Commanders is expected to set another record price. The Snyders, should they sell, would receive well over the record $4.65 billion Walmart heir Rob Walton paid for the Denver Broncos this summer.
NBC Sports Washington said Friday that the pending sale this week of the Phoenix Suns by another embattled owner, Robert Sarver, to mortgage lender Mat Ishbia for $4 billion — a record price for an NBA franchise — will drive up the Commanders price. That sale includes the WNBA’s Phoenix Mercury.
–Field Level Media
The Washington Football Team named Tanya Snyder as co-chief executive officer of the franchise on Tuesday.
Snyder will hold that title along with her husband Dan Snyder. They are also co-owners of the franchise.
She joins Amy Trask (Oakland/Los Angeles Raiders) and Kim Pegula (Buffalo Bills) among the female chief executives in NFL history.
Amy Adams Strunk assumed the role of controlling owner of the Tennessee Titans in March 2015 and serves as the co-chairman of the franchise’s board of directors.
“This team is our family’s legacy,” Tanya Snyder said in a statement. “We are at a pivotal point in the history of this team as we work to become the gold standard of NFL franchises. The co-CEO titles reflect our approach to that effort. It is a natural progression, but it’s important to formally recognize the diversity of opinion and perspective that informs everything we do. In my new role, I’ll be positioned to ensure the core values that are central to our philanthropy permeate the entire organization and bring us closer to realizing our goals.”
Tanya Snyder has headed the team’s philanthropic efforts since the couple purchased the team for $800 million in 1999. The franchise is now worth $3.5 billion and brings in roughly $500 million in annual revenue, according to Forbes.
She has led the Washington Football Charitable Foundation since 2000 and founded the “Women of Washington” fan club in 2011. A breast cancer survivor, Tanya Snyder also helped introduce the NFL’s “Think Pink” campaign in 1999.
“Tanya is one of the most important figures in this organization, and that has only become more true over the last 18 months as her involvement has deepened,” Dan Snyder said in a statement. “Publicly, many know Tanya for her incredible and impactful work in breast cancer awareness and her leadership of our charitable foundation. But behind the scenes, she has had a profound impact on the direction of the Washington Football Team. She was instrumental in our decision to evolve the brand and modernize our fan experience — including the entertainment team.”
–Field Level Media