In early 2022, Byron Allen was looking to place a bid on the Denver Broncos. Now, the media mogul appears to have his eyes set on a different NFL team.
Allen is gearing up to place a bid on the Washington Commanders, Bloomberg reports. According to sources “familiar with his ambitions,” he is working with an investor group.
Two Times A Charm?
Allen’s first attempt with the Denver Broncos would have made him the first Black NFL team owner at the time. However, if he is to successfully close on the Washington Commanders — who are worth an estimated $5.6 billion — history will be made.
Allen’s reported bid follows an announcement from Commanders’ co-owners Dan and Tanya Snyder stating that they’ve hired Bank of America Securities to explore a sale, according to ESPN.
“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 said in the statement, per the outlet.
According to 7 News, the Washington Commanders are “looking at all possible options, including a complete sale of the team, or bringing on a minority owner.”
“Any potential transaction would have to be presented to the NFL Finance Committee for review and require an affirmative vote by three-quarters of the full membership,” League spokesperson Brian McCarthy said, according to 7 News.
“Any potential transaction would have to be presented to the NFL Finance Committee for review and require an affirmative vote by three-quarters of the full membership,” League spokesperson Brian McCarthy said, according to 7 News.
In other words, 24 of 32 owners.
Timeframe of the sale: While things are not completely clear yet, sports business experts speculate that moves could be made within a year.
“It could move fairly fast,” said Lisa Delpy Neirotti, director of the master’s program in sports management at George Washington University, per 7 News.
Byron's Fortune
As previously reported by AfroTech, Allen has built a $450 million empire through business moves such as acquiring The Weather Channel and purchasingBayou City Broadcasting.
