If Commanders owner Daniel Snyder wants $7 billion for the team, Snyder ultimately may not be selling the team.
At least not voluntarily.
As explained by the Washington Post, a bidding war has not yet erupted for the team. And, contrary to a December report from Forbes that Snyder had received multiple bids “well north” of $7 billion, the numbers haven’t landed even close to that amount.
One of the problems, as noted by the Post and more fully explained in one of the chapters in Playmakers, traces to the fact that, as franchise values skyrocket, not many people can afford to plunk down 30 percent of the purchase price in cash, while also complying with the various other requirements -- a debt limit of $1.1 billion, no more than 25 people in the ownership group, and no shares held by “private equity firms, public corporations, or sovereign wealth funds.”
Eventually, the league have to changes its ownership rules. Corporate ownership may become a necessity. Foreign money may need to be regarded as equal to domestic.
The Post article comes at a time when, via Bloomberg.com, Abu Dabi and Qatar have interest in NBA ownership. Saudi Arabia has launched a golf league.
However it plays out, the current rules for NFL ownership may be played out. And those rules may have to change.
