Comment on this story
comment
Tilman Fertitta, the billionaire executive who owns the NBA’s Houston Rockets, is involved in the bid for the Washington Commanders, two people familiar with the situation said Saturday.
Fertitta joins a group of potential buyers that includes Josh Harris, owner of the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils, and Amazon founder Jeff Bezos.
According to a person with knowledge of the deliberations, Fertitta has made an offer for the Commanders, but is not believed to be a frontrunner in buying the Daniel Snyder franchise. This person described the sales process as “a bit at a standstill” and valued Fertitta’s offer at just over $5.5 billion.
Another person familiar with the matter said Fertitta is interested in the commanders and is believed to have visited the team’s training facility in Ashburn.
Fertitta representatives did not respond to requests for comment Saturday night.
Jeff Bezos hires an investment firm to review an offer for Commanders
Fertitta is the owner and CEO of Fertitta Entertainment Inc., which owns the Rockets, the restaurant and hospitality company Landry’s, and the Golden Nugget Hotel and Casinos. According to Forbes, he has an estimated net worth of $8.1 billion. He bought the Rockets from Leslie Alexander in 2017 for $2.2 billion.
Harris has visited the commanders’ facility, two people familiar with the situation said this month. Harris was co-founder of Apollo Global Management and is General Partner of the English Premier League’s Crystal Palace. He is a Limited Partner with the Pittsburgh Steelers of the NFL. Harris grew up in Chevy Chase and attended field school in northwest Washington.
Harris, who has an estimated net worth of $6.2 billion according to Forbes, tried to buy the Denver Broncos last year but lost the bid to a group led by Walmart heir Rob Walton.
Josh Harris, prospective Commanders buyer, visits the team’s training facility
Bezos, who owns The Washington Post, has hired an investment firm to evaluate his potential bid for the Commanders, two people familiar with the situation said this week. Bezos works with Allen & Company, a New York-based firm that plays a prominent role in professional sports franchise transactions. It handled the two most recent NFL franchise sales, the Carolina Panthers and the Broncos. Whether Bezos will make an offer for the Commanders is still unclear.
The Commanders announced in November that Snyder and his wife Tanya, the team’s co-CEO, had hired Bank of America to review possible transactions related to the franchise. The team hasn’t said if the Snyders will sell all or part of the franchise. Four people familiar with the process said in December that they believe selling the entire team is the most likely outcome.
The bidding process comes as the NFL conducts its second investigation of Daniel Snyder and the team’s workplace, which is being led by attorney Mary Jo White. The US Attorney’s Office for the Eastern District of Virginia is also investigating allegations of financial irregularities involving the team. The team has denied any financial wrongdoing.