Late on Tuesday, a group led by Canadian real estate mogul Steve Apostolopoulos placed a $6 billion bid to buy the Washington Commanders NFL franchise.
CNN reports having a source that can verify the Canadian’s offer comes “fully funded.” Apostolopoulos owns a company called the Triple Group of Companies, based in Toronto.
The move officially launches the battle of the billionaires in a heated race to become new NFL owners.
NBA legend Magic Johnson is a part of a group led by billionaire Josh Harris. News broke early on Tuesday noting Harris’ group was the first to deliver Daniel Snyder, the current Commanders owner, his full asking price of $6 billion.
Harris is the owner of the NBA’s Philadelphia 76ers organization. He is also part owner of the NHL’s New Jersey Devils franchise.
Daniel Snyder has been under intense pressure to sell the Commanders, formerly known as the Washington Redskins, since 2018. Since then, there’s been a litany of bombshell reports and investigations alleging sexual harrassment and intimidation of the team’s cheerleaders and other female staff members.
The general consensus since that time has been Snyder’s organization fostered a sexist and toxic work place. Several NFL owners went on the record calling to have him ousted from the league.
Last week, it was revealed Magic Johnson was involved in the play for the Commanders organization, and as a consequence, things have started to move quickly. Johnson also holds a substantial ownership stake in MLB’s Los Angeles Dodgers franchise.
The sale of the Commanders would provide the embattled executive with the $6 billion parachute he’s been looking for. At the same time, NFL Commissioner Roger Goodell could settle a thorny owner’s problem the league has been wanting to settle for quite some time.
Get your popcorn… let’s see how this all shakes out. Until the next time it drips…
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