How much is too much? Or is too much never enough?

Both could be true as Daniel Snyder prepares to sell the Washington Commanders. Bidders faced a late-December deadline set by the bank handling the sale.

The Washington Post reports none of the offers submitted “reached the $7 billion mark that owner Daniel Snyder seeks for the team, according to a person familiar with the process.”

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It should come as little surprise that New Jersey Devils and Philadelphia 76ers owner Josh Harris is among those who submitted a bid. Last year, he tried to buy the Denver Broncos, who went for $4.65 billion to the Walton-Penner family ownership group, headed by Walmart heir Rob Walton; his daughter, Carrie Walton Penner; and her husband, Greg Penner. WIP reported in May (via Sportico) that Harris explored a bid for the Broncos in a partnership with NBA Hall of Famer Magic Johnson.

Harris already is a minority owner of the Pittsburgh Steelers, and would’ve had to sell his share in order to buy the Broncos. At the time of the deal in 2020, Bloomberg reported Harris and business partner David Blitzer “acquired a stake of less than 5% in the Pittsburgh Steelers. … While no details on price were available, the pair of financiers may have paid as much as $140 million, based on the $2.8 billion value Forbes estimated for the NFL franchise … Harris and Blitzer are joining the ownership group as passive investors alongside the Rooney family, with no input on operations, the people said.”

Harris and Blitzer previously expressed an interest in buying the New York Mets, which went to Steve Cohen in 2020 for more than $2.4 billion.

According to Forbes, Harris is worth $6.2 billion.

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However it does come as a bit of a surprise that Amazon’s Jeff Bezos did NOT submit a bid during this stage in the sale.

Some of those familiar with the process, speaking on the condition of anonymity because of the confidential nature of the bidding, said it’s unclear whether Bezos’s inaction reflects ambivalence over the price Snyder seeks, a ploy to sit back and ultimately outbid the top offer or some other misgivings about making an offer.

Bezos was rumored to be headlining a celebrity-stacked bid with hip-hop mogul Jay-Z.

According to Forbes, Bezos is worth $119.2 billion.

PFF’s Ari Meirov reports “Forbes valued the Commanders at $5.6 billion in August.”

ESPN reports Snyder bought the franchise for $800 million in 1999.

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Mike Rosenstein may be reached at [email protected].


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