Tag: sale

Feb 8, 2026; Santa Clara, CA, USA; Seattle Seahawks chairman Jody Allen celebrates with the Vince Lombardi trophy on the podium after defeating the New England Patriots in Super Bowl LX at Levi's Stadium. Mandatory Credit: Mark J. Rebilas-Imagn Images

Seahawks launch formal sale process of franchise

Posted on | by Field Level Media

The Super Bowl champion Seattle Seahawks are for sale.

The estate of late owner Paul Allen announced Wednesday that it had “commenced a formal sale process” for the franchise.

Allen, who co-founded Microsoft with Bill Gates, died in 2018 at age 65 due to complications of non-Hodgkin lymphoma.

He bought the Seahawks in 1997, saving the team from potentially being moved to Southern California.

According to Forbes, Allen paid $194 million. The publication’s most recent valuation was $6.7 billion, 14th in the NFL.

The Washington Commanders are the NFL team that sold most recently, purchased in 2023 by a group controlled by Josh Harris for a record $6.05 billion. A Seahawks sale is expected to eclipse the $7 billion mark.

Allen’s sister, Jody Allen, is the executor of the estate and has been in charge of the Seahawks since his death. He also owned the NBA’s Portland Trail Blazers, and a sale of that franchise is in progress.

Carolina Hurricanes owner Tom Dundon is under contract to buy that team in a deal valued at $4.25 billion.

Investment bank Allen & Co. and law firm Latham & Watkins have been selected to lead the Seahawks sale process.

In his estate plan, Allen directed that his sports franchises eventually be sold, with proceeds to philanthropic giving.

–Field Level Media

Sep 21, 2025; Foxborough, Massachusetts, USA; CEO of the New England Patriots Robert Kraft during halftime at Gillette Stadium. Mandatory Credit: Brian Fluharty-Imagn Images

Report: Patriots selling minority stakes at $9B valuation

Posted on | by Field Level Media

Owner Robert Kraft has agreed to sell 8 percent of the New England Patriots to two investors in a deal that values the franchise at $9 billion, multiple outlets reported Thursday.

Kraft paid $172 million for the team in 1994 and celebrated three Super Bowl championships in the 2000s and three more in the 2010s behind head coach Bill Belichick and quarterback Tom Brady.

According to reports from CNBC and Sportico, billionaire Dean Metropoulos is buying a 5 percent stake and Sixth Street Capital is purchasing a 3 percent stake.

The minority stake sale is pending NFL approval and does not include the MLS club New England Revolution. The Kraft family still will own more than 90 percent of the Patriots.

Sixth Street is a private equity firm with more than $100 billion in assets under management. Its sports portfolio includes stakes in the San Antonio Spurs, Boston Celtics, San Francisco Giants and Spanish soccer powers Real Madrid and FC Barcelona.

Metropoulos is listed by Forbes with a net worth of $4.1 billion.

A valuation of $9-plus billion would be the second-richest ever for an NFL team. The New York Giants were valued at more than $10 billion when the Koch family agreed to buy a 10 percent stake earlier this month.

–Field Level Media

Oct 20, 2024; East Rutherford, New Jersey, USA; New York Giants running back Tyrone Tracy Jr. (29) runs against the Philadelphia Eagles during the second half at MetLife Stadium. Mandatory Credit: Robert Deutsch-Imagn Images

Reports: Billionaire Koch family to buy 10 percent of Giants

Posted on | by Field Level Media

The Koch family, New York billionaires, plan to buy a 10 percent stake in the Giants at a reported valuation of $10 billion for the NFL franchise, multiple media outlets reported.

The deal, first reported by Bloomberg on Wednesday night, requires approval from league owners. They could vote on the issue at their meeting in October.

This valuation is the highest ever for an NFL franchise.

Last month, the Chicago Bears were valued at $8.8 billion when the owners agreed to buy back a small stake in the team, per reports.

The longtime owners of the Giants, the Mara and Tisch families, said in February that they were exploring the sale of a minority share of the team.

Apparently, Julia Koch and her family submitted the winning offer.

She is the widow of David Koch, who built a fortune through his co-ownership of Koch Industries, a diversified company with holdings that include an interest in chemicals, paper products and technology. Julia Koch and her family have a net worth estimated at $81.2 billion, according to Forbes.

This is not their first foray into sports in the Big Apple. In 2024, the Kochs purchased 15 percent of BSE Global, which owns the NBA’s Brooklyn Nets and WNBA’s New York Liberty.

The Maras have owned the Giants since 1925, later going into partnership with the Tisch family.

–Field Level Media

Feb 2, 2022; Landover, MD, USA; Washington Commanders co-owner Dan Snyder speaks as co-owner Tanya Snyder (L) listens during a press conference revealing the Commanders as the new name for the formerly named Washington Football Team at FedEx Field. Mandatory Credit: Geoff Burke-USA TODAY Sports

Dan Snyder to pay $60 million in wake of Mary Jo White findings

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Dan Snyder will pay the NFL $60 million in fines after an investigation by Mary Jo White found he was complicit in both sexual misconduct and financial improprieties during his time as owner of the Washington Commanders.

The findings of White’s investigation, which began in February 2022, were released Thursday afternoon shortly after NFL team owners approved the $6.05 billion sale of the Commanders to billionaire Josh Harris with a unanimous 32-0 vote.

“We appreciate the diligence, thoroughness and professionalism of Ms. White and her team throughout this process,” NFL commissioner Roger Goodell said in a statement. “We pledged to share her findings publicly and are doing so today.”

White, the former chair of the Securities and Exchange Commission, found evidence that Snyder sexually harassed a former Commanders team employee, Tiffani Johnston. The former cheerleader and marketing manager testified to Congress last year that Snyder put his hand on her thigh and pushed her toward his limo at a work-related dinner.

The league expanded the scope of White’s investigation beyond harassment and workplace culture to financial improprieties in April 2022. A former sales executive for Washington, Jason Friedman, told Congress that Snyder had the team withhold its true amount of shareable revenue meant to be split with other teams.

White’s investigation found that $11 million in revenue was “improperly shielded” from other teams and a “significant portion” of another $44 million in revenue was illicitly moved from shareable to non-shareable accounts.

White’s team interviewed Snyder remotely on June 29 after the unpopular team owner previously declined to be interviewed, the Washington Post reported.

White delivered her findings to team owners Thursday at a hotel in Bloomington, Minn., where the owners met to vote in Harris.

The principal owner of the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils led an investment group that bought the Commanders for a record $6.05 billion.

–Field Level Media

Josh Harris and a group of investors including Magic Johnson could be approved as Commanders' owners by July 20. Mandatory Credit: Bill Streicher-USA TODAY Sports

Reports: Vote on Commanders sale likely next month

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Josh Harris’ bid to purchase the Washington Commanders could be approved before the start of training camp next month.

According to multiple reports, the Commanders cleared the first NFL procedural hurdle with a successful meeting of the league’s finance committee, prompting a scheduled meeting of owners to approve the reported $6.05 billion sale of the franchise from Daniel Snyder.

According to The Athletic, the meeting is scheduled for July 20.

NFL bylaws stipulate 24 of the 32 owners must vote in favor to clear the sale of a majority or full stake in any NFL franchise.

Harris aligned with Magic Johnson, a partial owner of the Los Angeles Dodgers, on the Commanders’ bid to front a group that outbid Amazon founder Jeff Bezos and others.

Harris has multiple sports franchise holdings, including the Philadelphia 76ers and New Jersey Devils. Harris and Johnson led a bid for the Denver Broncos, but the franchise sold to Walton-Penner in 2022.

Snyder’s exit was encouraged by at least one owner — Jim Irsay of the Colts — who said publicly the NFL would consider removing Snyder in the midst of multiple controversies including litigious battles with co-owners, Congressional and judicial inquiries into financial impropriety, sexual harassment and workplace misconduct.

–Field Level Media

Feb 15, 2022; Camden, NJ, USA; Philadelphia 76ers owner Josh Harris looks on as James Harden speaks with the media during a press conference at Philadelphia 76ers Training Complex. Mandatory Credit: Bill Streicher-USA TODAY Sports

Dan Snyder, Josh Harris enter agreement for sale of Commanders

Posted on | by Field Level Media

The long-awaited sale of the Washington Commanders finally is at hand.

Though the transaction is not yet complete, owners Dan and Tanya Snyder “have entered into a purchase and sale agreement” to sell the Commanders to a group led by hedge fund manager Josh Harris, the parties jointly announced Friday.

The reported price tag of $6.05 billion would break the record for the most expensive team purchase in North American sports.

“We are very pleased to have reached an agreement for the sale of the Commanders franchise with Josh Harris, an area native, and his impressive group of partners,” the Snyders said in a statement. “We look forward to the prompt completion of this transaction and to rooting for Josh and the team in the coming years.”

The sale will mark the end of Snyder’s tumultuous and controversial time owning the franchise, which was once considered one of the jewels of the NFL.

ESPN reported earlier Friday that as a condition of sale, Snyder wanted assurances from the league that a full investigative report into his activities as owner would not be made public. It was not immediately clear whether that was agreed upon.

Attorney Mary Jo White conducted an investigation into allegations of both sexual misconduct and financial improprieties under Snyder’s watch, and NFL commissioner Roger Goodell has publicly vowed the report would be made public.

This is the second recent major investigation into Snyder. Only limited portions of the investigative report overseen by attorney Beth Wilkerson were released in July 2021, at which time Snyder was fined $10 million and forced to cede day-to-day control of the team to his wife, Tanya.

While Snyder owned the team, it underwent two name changes — from “Washington Redskins,” using a term widely regarded as a slur toward Native Americans, to “Washington Football Team” to the Commanders, despite Snyder vowing in 2013 that he would never change its name.

The franchise went 164-220-2 and won two playoff games in six berths during Snyder’s ownership. Now, it is set tol begin a new era under Harris, whose Harris Blitzer Sports & Entertainment owns the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils.

The investment group reportedly includes D.C.-area billionaire Mitchell Rales, Colombian financier Alejandro Santo Domingo and Basketball Hall of Famer Earvin “Magic” Johnson.

–Field Level Media

Jan 1, 2023; Landover, Maryland, USA; Washington Commanders helmet on the field before the game against the Cleveland Browns at FedExField. Mandatory Credit: Brad Mills-USA TODAY Sports

Report: Dan Snyder gets $6B offer for Commanders

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Washington Commanders owner Dan Snyder received a $6 billion offer from an investment group led by Josh Harris and Mitchell Rales, ESPN reported Tuesday.

The price tag would smash the previous record sale for a U.S. sports franchise, set last August when Walmart heir Rob Walton purchased the Denver Broncos for $4.65 billion.

The Harris/Rales group, which includes NBA legend Magic Johnson, is one of several potential bidders for the club Snyder has owned since 1999.

Canadian billionaire Steve Apostolopoulos and Houston Rockets owner Tilman Fertitta are also in the mix.

Harris and Rales have net worths of $5.8 and $5.5 billion, respectively, according to Forbes. Harris is the principal owner of the Philadelphia 76ers and New Jersey Devils.

–Field Level Media

Jan 2, 2020; Ashburn, VA, USA; Washington Redskins owner Daniel Snyder and his wife Tanya look on as head coach Ron Rivera speaks during his introductory press conference at Inova Sports Performance Center. Mandatory Credit: Brad Mills-USA TODAY Sports

Report: Commanders sale coming soon, Jeff Bezos sits out for now

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The Washington Commanders could be sold as soon as March, NBC Sports Washington reported Tuesday.

The new league year starts at 4 p.m. on March 15, and the NFL’s annual meeting is at the end of March.

The candidates for new ownership are still unclear, though the Washington Post reported Tuesday that several groups submitted bids before a late December date requested by BofA Securities, the investment bank handling the sale. No candidate reached Daniel Snyder’s $7 billion asking price, the Washington Post reported.

Amazon founder Jeff Bezos, an early favorite among potential candidates, did not submit an official bid, according to multiple reports. That does not eliminate the possibility of Bezos making a bid later.

The Commanders have said that Snyder and his wife Tanya Snyder, the co-CEO, will “consider potential transactions” for the franchise — whether selling all or part of the team.

Multiple reports have said Todd Boehly, another front-runner for ownership, is exiting the bidding. Raised in the Washington suburb of Bethesda, Md., Boehly is the CEO of Eldridge Industries, chairman of Chelsea Football Club and part-owner of the Los Angeles Dodgers (MLB), Lakers (NBA) and Sparks (WNBA).

Josh Harris, co-founder of Apollo Global Management and owner of the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils, is considered another leading candidate. He was part of a group pursuing the Denver Broncos before they were sold to the Walton-Penner Group.

Spokespersons for Harris, who was raised in Chevy Chase, Md., have repeatedly declined to comment. A Commanders spokesperson had no comment on any potential transaction Tuesday, NBC Sports Washington reported.

–Field Level Media

Jan 2, 2020; Ashburn, VA, USA; Washington Redskins owner Daniel Snyder and his wife Tanya look on as head coach Ron Rivera speaks during his introductory press conference at Inova Sports Performance Center. Mandatory Credit: Brad Mills-USA TODAY Sports

Bids hit $7 billion at deadline for offers to buy Commanders

Posted on | by Field Level Media

Friday is the deadline for bidders to present final offers to buy the Washington Commanders.

NBC Sports Washington reported five — and as many as seven — bids are expected. Forbes reported bids exceed $7 billion, which would include the team, FedEx Field and surrounding acreage, and 150 acres at the team’s headquarters in Ashburn, Va.

In August, Forbes valued the Commanders at $5.6 billion, without the real estate.

Owners Daniel and Tanya Snyder hired Bank of America Securities last month to explore the possibilities for the sale of all, or part, of the Commanders last month. Facing federal scrutiny into the operation of the team, as well as the wrath of some fellow owners, the Snyders have not come out and expressed their intention with the franchise.

In May 1999, Daniel Snyder-led ownership group bought the Washington football team and what then was known as Jack Kent Cooke Stadium for $800 million, which the Washington Post reported at the time was a record price for a U.S. sports franchise.

A sale of the Commanders is expected to set another record price. The Snyders, should they sell, would receive well over the record $4.65 billion Walmart heir Rob Walton paid for the Denver Broncos this summer.

NBC Sports Washington said Friday that the pending sale this week of the Phoenix Suns by another embattled owner, Robert Sarver, to mortgage lender Mat Ishbia for $4 billion — a record price for an NBA franchise — will drive up the Commanders price. That sale includes the WNBA’s Phoenix Mercury.

–Field Level Media

Oct 2, 2022; Arlington, Texas, USA; Washington Commanders owner Dan Snyder on the field before the game against the Dallas Cowboys at AT&T Stadium. Mandatory Credit: Tim Heitman-USA TODAY Sports

Dan Snyder hires bank to help sell Commanders

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Dan and Tanya Snyder have hired BofA Securities to help with a potential sale of the Washington Commanders.

“The Snyders remain committed to the team, all of its employees and its countless fans to putting the best product on the field and continuing the work to set the gold standard for workplaces in the NFL,” the team announced in a brief statement Wednesday.

According to a report Wednesday from Forbes.com, Snyder has already received “at least four calls” from parties interested in purchasing the team.

Snyder is said to be exploring all options, including selling the entire franchise or a minority stake.

A team spokesman told multiple media outlets: “We are exploring all options.”

In August, Forbes valued the Commanders at $5.6 billion, sixth among the NFL’s 32 teams. Snyder also owns FedEx Field and the 264-acre property that surrounds it, plus the 150-acre team headquarters in Ashburn, Va.

Sponsorship revenue has increased by 40 percent this season over 2021 since the team rebranded from the Washington Football Team to the Commanders, according to Forbes.

BofA Securities, previously known as Bank of America Merrill Lynch, provides services in mergers and acquisitions.

“We understand the challenges our clients face around the world,” reads the company’s website. “We combine local knowledge and global perspective to tailor solutions to meet clients’ goals.”

The bank handled Steve Ballmer’s 2014 purchase of the Los Angeles Clippers.

Snyder, 57, bought the team, then known as the Washington Redskins, in 1999.

Snyder’s wife, Tanya, has been in charge of day-to-day operations since July 2021 when the NFL fined the team $10 million for fostering a toxic workplace culture.

–Field Level Media