Merger And Acquisitions News Hubb
Advertisement Banner
  • Home
  • Merger & Acquisition News
  • News
  • Contact
No Result
View All Result
  • Home
  • Merger & Acquisition News
  • News
  • Contact
No Result
View All Result
Wellnessnewshubb
No Result
View All Result
Home Merger & Acquisition News

Dan Snyder Agrees to Sell Washington Commanders for $6 Billion

admin by admin
April 15, 2023
in Merger & Acquisition News


Harris, who grew up in Chevy Chase, Md., and attended the Field School in northwest Washington, cobbled together a big investment group. A week before the preliminary bids were due in February, he toured the team’s training facility and stadium, as every qualified bidder is allowed to do, according to a person familiar with the Commanders’ sale process.

The bid process was complicated because interest rates had shot up in the past year, raising the cost of borrowing money. Formerly a high-profile team owner, Snyder has remained largely out of public view and away from the team.

According to N.F.L. rules, every club must have a principal owner who owns at least 30 percent of the team, which means Harris will need to raise at least $1.8 billion on his own. He has an estimated net worth of $6 billion, according to Forbes.

In March, Harris recruited Rales, a co-founder of the Maryland-based Danaher Corporation, to join his investment group, a person with knowledge of the deliberations said. Rales has an estimated net worth of $5.6 billion, according to Forbes, and adds strong local ties to the ownership group.

Harris also recruited Magic Johnson, which will help satisfy other N.F.L. owners, who last March said in a statement that they would “regard it as a positive and meaningful factor” if prospective ownership groups “include diverse individuals who would have a significant equity stake in and involvement with the club.”

Harris beat out Tilman J. Fertitta, the owner of the Houston Rockets of the N.B.A., who reportedly bid $5.6 billion for the Commanders. Jeff Bezos, the founder of Amazon, was thought to be interested in buying the club, but does not appear to have made a bid for the team.

Jenny Vrentas contributed reporting.





Source link

Previous Post

Vox Media Spins Off NowThis, Viral Politics Site

Next Post

8 Reasons Your Startup Needs Data Room for Fundraising

Next Post

8 Reasons Your Startup Needs Data Room for Fundraising

Recommended

Building M&A Deal Pipeline for Corporate Development

Building M&A Deal Pipeline for Corporate Development

1 year ago
Who Controls the Data in Virtual Data Rooms during M&A?

Who Controls the Data in Virtual Data Rooms during M&A?

1 year ago

© Merger and Acquisition News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Merger & Acquisition News
  • News
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Merger & Acquisition News
  • News
  • Contact

© 2022 Merger And Acquisition News Hubb All rights reserved.