The sale of Commanders has sparked reports of an extended rollercoaster ride, with news coming from all directions. Some are right, some are wrong.
Mike Ozanian of Forbes.com reported that in December, Daniel Snyder had several offers for the team “well north” of $7 billion, now Josh Harris reports that he has to adjust the financing of the final deal to buy the team, for $6.05 billion. .
Ozani also said some NFL owners are concerned about the structure of the deal, which has many limited partners and high liabilities. The NFL’s current debt limit related to team acquisitions is $1.1 billion. In Ozania, the Harris deal includes $1.1 billion in secured debt and $1 billion in unsecured debt.
I don’t pretend to understand the finer points of buyouts and other corporate tools used to make deals happen. The bottom line is if Harris feels the need to rush to make the numbers work. Like Jeff Bezos, if he had enough money to write a 100 percent fair check, it might be a lot better for the team.
That’s why Commanders fans, rejoicing at the prospect of Snyder’s loss, should be concerned. If Harris doesn’t have the money to buy the team easily, will he have the money to manage the team properly?