Tuesday, July 23, 2024

Tillman is bidding for Fertitta commanders


Tilmon Fertitta, the billionaire business executive who owns the NBA’s Houston Rockets, is making a bid for the Washington Commanders, two people familiar with the situation said Saturday.

Fertitta joins a group of prospective 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 familiar with the negotiations, Fertitta submitted a bid for the Commanders but was not convinced as a frontrunner to buy the franchise from Daniel Snyder. The person described sales activity as “slightly stalled” and estimated Ferditta’s bid at just over $5.5 billion.

Another person familiar with the matter said Fertitta is believed to be interested in the Commanders and has visited the team’s training facility in Ashburn.

Fertitta’s representatives did not respond to requests for comment Saturday night.

Jeff Bezos hires investment firm to consider bid on Commanders

Ferditta is the owner and CEO of Ferditta Entertainment Inc., which owns The Rockets, a dining and hospitality company that owns Laundries and the Golden Nugget Hotel and Casino. With an estimated net worth of $8.1 billion, According to Forbes. 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 is the co-founder of Apollo Global Management and a general partner of Crystal Palace of the English Premier League. He is a limited shareholder in the NFL’s Pittsburgh Steelers. Harris grew up in Chevy Chase and attended Field School in Northwest Washington.

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Harris, who has a net worth of $6.2 billion, According to ForbesDenver tried to buy the Broncos last year, but lost the bid to a group led by Walmart heir Rob Walton.

Josh Harris, a potential Commanders buyer, visits the team’s practice facility

Bezos, owner of The Washington Post, has hired an investment firm to evaluate his potential bid for Commanders, two people familiar with the situation said this week. Bezos works with Allen & Company, a New York-based firm that specializes in transactions involving professional sports rights. It handled the sale of two of the most recent NFL franchises, the Carolina Panthers and Broncos. It’s unclear whether Bezos will try the commanders.

The commanders announced in November that Snyder and his wife, Tanya, the group’s co-CEO, had hired Bank of America to consider a potential transaction involving the franchise. The team did not say whether the Snyders would sell all or part of the franchise. Four people familiar with the process said in December that they believe the most likely outcome is to sell the entire team.

The bidding process comes as the NFL conducts its second investigation into the workplace of Daniel Snyder and the team, led by attorney Mary Jo White. The U.S. Attorney’s Office for the Eastern District of Virginia is also investigating allegations of financial irregularities involving the group. The group has denied any financial impropriety.

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