“Tilman Fertitta, the billionaire business executive who owns the NBA’s Houston Rockets, is involved in the bidding for the Washington Commanders, two people familiar with the situation said Saturday,” wrote Mark Maske and Nicki Jhabvala of the Washington Post.
Even so, it doesn’t seem like the renowned restaurateur will be able to own another major sports team for now because he is apparently not a frontrunner to purchase the Commanders from embattled owner Daniel Snyder.
“According to one person with knowledge of the deliberations, Fertitta submitted a bid for the Commanders but is not believed to be a front-runner to purchase the franchise from Daniel Snyder,” Maske and Jhabvala added. “That person described the sale proceedings as being ‘at a little bit of a standstill’ and estimated Fertitta’s bid was for slightly above $5.5 billion.
“Another person familiar with the matter said Fertitta is interested in the Commanders and is believed to have visited the team’s training facility in Ashburn.”
Interestingly, Fertitta also reportedly explored making a bid to purchase Chelsea Football Club last year. It appears that he is keen on expanding his portfolio.
Of course, owning a sports organization has proven to be a profitable venture. He understands that well, given that the Rockets’ value has risen to $3.2 billion, according to Forbes. Fertitta bought the team in 2017 for $2.2 billion.
However, he has not yet proven to be the most effective owner, considering how the Rockets have fared since the start of his tenure. After losing stars like James Harden and Chris Paul, they have ranked last in the Western Conference in the last two campaigns. This season, they are again on track to have the worst record in the West.
Perhaps the Commanders, who have not advanced past the first round of the playoffs since the 2005 season, are better off having an owner other than Fertitta.
Furthermore, it is still unclear if Snyder actually intends to sell the team, despite him reportedly realizing that he had to give up the entire franchise in November last year because of the issues that have been hounding him for a while now.
Fans have been calling for him to let go of the franchise that he has owned since 1999, considering the alleged toxic workplace culture that has permeated the organization under his watch and reported financial issues.
It remains to be seen if Fertitta or another entity manages to acquire the Commanders from Snyder. The following weeks will surely be intriguing, particularly for the team’s supporters.