Boston Crimson Sox proprietor John Henry is seen as a potential bidder for the Washington Commanders because the investing tycoon strikes to promote his UK-based soccer group Liverpool, two sources with information of the scenario instructed The Publish.
Henry’s Fenway Sports activities Group has employed Goldman Sachs and Morgan Stanley to unload Liverpool in a deal that’s anticipated to fetch between $4 billion and $5 billion, sources instructed The Publish, confirming media experiences from final week.
Fenway is already in discussions with suitors, in accordance with experiences. On Wednesday, a Kuwait-based information outlet reported that Fenway had reached a deal to promote Liverpool to an unnamed, Qatar-based investor. The Publish couldn’t affirm the report.
Fenway Sports activities, which owns Liverpool in partnership with RedBird Capital Companions, will probably gather $2 to $3 billion in such a deal when subtracting the group’s debt, the supply near the Liverpool talks mentioned.
That, in flip, would supply the majority of a battle chest to spend the $4 billion or so in fairness wanted to purchase management of the Commanders — pitting him in opposition to a potential bidding bloc that’s reportedly being shaped by Jeff Bezos, Jay-Z and Matthew McConaughey in an public sale that might fetch north of $5.6 billion, the sources mentioned.
“This can be a precursor to him shopping for the Commanders,” a supply near latest offers to promote NFL franchises mentioned of Henry. “John needs to personal an NFL group. They'll have a look at the Commanders.”
Fenway Sports activities Group didn’t reply to requests for remark.
The Publish broke the information that Liverpool was on the market in 2018, however now a proper public sale seems to be taking form, as information broke Monday that Henry had put collectively displays for potential bidders. The information got here as a shock to some insiders, in accordance with one supply, as Henry may now face the backlash from Liverpool followers if he backs out of a deal, probably placing him at a drawback in sale talks.
Sources speculate that Henry’s sense of urgency elevated final week after the Commanders’ embattled proprietor Dan Snyder and his spouse Tanya introduced that they had employed Financial institution of America “to think about potential transactions” associated to the group.
Snyder has not but distributed gross sales books and there may be nonetheless some query of whether or not he'll search a full sale, sources mentioned.
Henry would face a formidable rival in Amazon founder Bezos, who sources say has lengthy had his sights on shopping for the Commanders, who adopted their new title in February after scrapping the controversial Redskins moniker in 2020 following the George Floyd protests.
Bezos’ internet price is at present pegged by Forbes at $111 billion, versus Henry’s $4 billion.
However, a supply instructed NBC sports activities on Monday that Bezos’ bid might be difficult by the truth that he additionally owns the Washington Publish, a paper that has lengthy been essential of Snyder.
“It’ll by no means occur,” a supply instructed NBC Sports activities. “Dan Snyder detests the Washington Publish. No method he’d promote to the proprietor of that paper.”
Along with the Crimson Sox and Liverpool, Fenway final 12 months acquired the Pittsburgh Penguins NHL franchise. Insiders say Henry seems to imagine that Fenway’s administration underneath CEO Sam Kennedy may make the Commanders profitable just like the group’s different groups.
“They've a extremely robust administration model,” the supply near latest NFL group gross sales mentioned. “The NFL makes numerous sense.”
Brooklyn Nets star Kevin Durant has additionally expressed curiosity in shopping for the Commanders however doesn’t have the cash to guide a bidding group, sources mentioned.
Hypothesis in regards to the Commanders comes as Henry is pursuing an NBA enlargement group. For months Henry has been engaged on bringing an enlargement NBA membership to Las Vegas although the NBA has not but introduced plans so as to add new groups.
LeBron James in March purchased a 1% stake in Fenway Sports activities Group and the NBA would like to have LeBron being a part of an possession group when he retires, sources mentioned.
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