DC native, Brian Davis, has joined the race to purchase the NFL team, the Washington Commanders. He has offered to buy the team and will become the NFL’s first Black owner if his offer goes through, WUSA9 reported, citing a source close to the deal.
According to documents cited by WUSA9, Davis has offered to pay $1 billion to Washington Commanders owners, Dan and Tanya Snyder, within 24 hours if the deal is approved and pay $6 billion within seven days.
He is also willing to indemnify Snyder for any legal liability related to the Commanders’ owner amid the ongoing investigations into the team.
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The owners had reached an agreement to sell the Washington Commanders, formerly called Washington Redskins, and if the league approves the deal, the new owners will be the group headed by Harris, including NBA legend Earvin “Magic” Johnson.
The sale is being led by the Bank of America and according to WUSA9, Dan Snyder has reached an agreement with billionaire, Josh Harris, to sell the team for $6.05 billion. The platform adds that the deal would be the highest price paid for a North American professional sports franchise. Meanwhile, Forbes estimates the team is worth $5.6 billion.
Should the deal sail through for Davis, it will add to his investments in the sports field. He is a minority owner of DC United. Aside from sports, he is an energy investor – the owner of Urban Echo Energy LLC, “a LEED-certified developer of renewable energy assets.”
Also, the deal will make him the first Black owner in the NFL. “With the Washington D.C. metropolitan area having a significant minority population … Urban Echo believes that African American ownership in the Company will be a vital component to enhancing the social infrastructure in the local community,” Davis’ offer letter to Dan Snyder says, according to WUSA9. “There is a significant opportunity to enhance the existing fanbase.”
What is more, Davis also signaled his intention to use renewable energy in all Commanders’ “operations and community developments” and plans to “optimize economic growth” in the neighborhoods surrounding any future team stadium.
Urban Echo Energy is the source of the money for the purchase of the NFL team. Davis reportedly raised the money to make the $7 billion offer from the sale of his intellectual property. He is said to have received a $50 billion valuation for his assets and intellectual property, and a lump sum from private investors.
Davis attended Bladensburg High School and went to Duke University, where he played basketball. He also played for the Minnesota Timberwolves from 1993-1994.
