Bezos Reportedly in Talks to Buy Washington Football Team
Amazon founder and CEO Jeff Bezos, who announced earlier this month he would step down in the third quarter, is rumored to be looking to become an NFL team owner.
Bezos is said to be in talks to buy a stake in the Washington Football Team, according to Front Office Sports.
The team, which is working on a new name after having dropped its Redskins name last year, has been owned by Daniel Snyder since 1999. He bought it for $750 million and it’s valued at $3.5 billion, ranking as the 8th most valuable NFL team, according to Forbes.
Three minority owners of the team, who collectively own 40%, hired boutique sports investment banking firm Moag & Company to lead the effort to sell part of the team, Front Office Sports reports, adding that Bezos’ attorney talked to the firm yesterday.
Bezos’ interest in purchasing an NFL team goes back to 2019, when CBS Sports reported that he had spent “considerable time around owners, including Washington’s Dan Snyder.”
And Bezos has also ties to the Washington, D.C. area, as he bought The Washington Post in 2013 for $250 million, ending eight decades of local ownership by the family of Washington Post Company chairman and CEO Donald Graham.
Bezos also bought a $23 million, 27,000-square-foot mansion in Washington, D.C., in 2016. And earlier this month, Amazon revealed the architectural plans of the building for its Arlington, Virginia headquarters, according to The Washington Post.
When he steps down from Amazon, Bezos will become executive chair and will be replaced as CEO by Andy Jassy, the company said. Amazon released earnings earlier this month, beating estimates and reporting its largest all-time revenue of $125.56 billion for the fourth quarter of 2020.
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