Mar 22, 2023
Steve Apostolopoulos Joins Bidders for Commanders, ESPN Says
(Bloomberg) -- Steve Apostolopoulos is the latest billionaire interested in making a run at the National Football League’s Washington Commanders, ESPN reported, citing NFL sources.
Apostolopoulos recently toured the Commanders’ stadium and training facility, according to the report. ESPN didn’t say if he has made a formal offer to team owners Dan and Tanya Snyder.
Apostolopoulos had also showed interest in the NBA’s Charlotte Hornets, owned by basketball legend Michael Jordan. ESPN reported last week that Jordan was in talks to sell a majority stake in the franchise.
Apostolopoulos joins New Jersey Devils and Philadelphia 76ers co-owner Josh Harris and Houston Rockets owner Tilman Fertitta as potential bidders for the troubled NFL franchise that recently was under investigation by the US House of Representatives Oversight Committee for its toxic work environment.
Amazon.com Inc. founder Jeff Bezos also wanted to take part in the the bidding but was prevented by Dan Snyder from entering the private auction for the team, according to the New York Post. In February, the Washington Post reported that Bezos had hired investment firm Allen & Company to evaluate a possible bid for the Commanders.
NBA legend Earvin “Magic” Johnson joined Harris’s group to purchase the Commanders, Sportico reported this week. Johnson, who is a part owner of MLB’s Los Angeles Dodgers, was part of a failed bid by Harris to take ownership of the NFL’s Denver Broncos.
NFL team owners are slated to meet in Phoenix beginning on Monday. The New York Post also reported in March that owners do not have the 75% threshold required to force Snyder to sell the franchise.
In November, the Snyders hired Bank of America Corp. to “consider possible transactions.” The team has an estimated value of $5.6 billion, according to Forbes.
(Corrects story first published March 22 to remove incorrect academic history)
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