The sports business is a multi-billion dollar industry, and few brands are as profitable as the NFL. The National Football League generated seventeen billion dollars in revenue last year. As such, any remotely competent entrepreneur desires a piece of an NFL team. Now it appears for rapper and mogul Jay-Z, NFL ownership is close to being a reality. He and the financial group’s leader Jeff Bezos are bidding for the ownership of the Washington Commanders.
How The Commanders Came Up For Sale
The Commanders, formerly the Washington Redskins, became the talk of the football world this week. Unfortunately, this did not spring from a fantastic season of play or a star player. Earlier this week, Daniel Snyder and his wife, Tanya Snyder, announced they hired a division of Bank of America to look into potential buyers for the franchise. After the announcement, many speculated on who the new owners might be—Snyder’s management of the franchise ranks among the least popular in the NFL. The most prominent name on the list of potential buyers is Jeff Bezos, the second richest man on the planet, alongside Jay-Z and actor Matthew McConaughey.
The desire to own an NFL team is evident from a business standpoint. Few purchases could come with a more built-in customer base than a storied albeit not consistently successful NFL team. The Commanders always retain one of the more passionate fanbases in the league, which is impressive considering how popular football is in America. The result would be an almost instant success and profit for Bezos and Jay-Z.
Why Jay-Z Is Interested
Ownership of sports teams is becoming more prominent among celebrities and entertainers as it becomes apparent that it is almost always a worthwhile investment. Jay-Z isn’t the only rapper getting involved. Earlier this year, Drake became a passive owner in the famed Italian soccer team A.C. Milan. Even Jay-Z previously held a small stake in the Brooklyn Nets of the NBA before selling his shares. His partner McConaughey even has a stake in MLS team Austin FC.
The Takeaway
The Commanders have had a rough spell over the last several years. Synder’s ownership created controversy, the Redskins name caused many to call for a change, and the team has seen lackluster seasons. It caused the team and its fans to feel that change was in need. Perhaps it will, and the team needs the new owners right now. However, sources close to Synder claim he would not sell the team to Bezos. Bezos is also the owner of the Washington Post, an outlet Synder reportedly hates.
Everything remains up in the air as of right now. Synder still needs to confirm he’s doing anything more than considering a sale of the team. Although his actions indicate he is serious, all we can do now is wait and see what the future holds for the Commanders, a team in a seemingly endless wave of chaos.
Written By: Ryan Fields
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