Washington Commanders near a deal to sell to 76ers owner for around $6 billion
The Washington Commanders are nearing a sale to an ownership group led by Philadelphia 76ers and New Jersey Devils Owner Josh Harris at around $6 billion, people familiar with the deal told CNBC.
The deal to purchase the embattled team still has to be submitted and approved by the NFL’s finance committee, and at least three-quarters of other team owners would need to approve it.
But those terms, first reported by Sportico, would represent the highest sale price paid for a North American sports team. The Walton family purchased the Denver Broncos in June for a then-record price of $4.65 billion.
Harris’ ownership group includes Washington D.C.-based billionaire Mitchell Rales and NBA legend Magic Johnson. Harris is a co-founder of Apollo Global Management. He’s also the founder and managing general partner of Harris Blitzer Sports & Entertainment and holds stakes in the Crystal Palace Football Club in the Premier League and in the Pittsburgh Steelers.
founder and Washington Post owner Jeff Bezos was exploring the sale process, but decided not to make an offer, according to ESPN.
Houston Rockets owner Tilman Fertitta told CNBC’s “Fast Money” Wednesday that he dropped out of the process after making an offer of $5.6 billion.
“If they can get somebody to pay them more than that, good luck to them. That’s all I can say. I own a franchise, so I love them selling for a lot. But at some point, I don’t think $6 billion is the right number,” Fertitta said.
Irwin Kishner, who represents a number of pro sports teams in the deal-making space, said he’s not surprised by the $6 billion sale price.
“You had some very, very wealthy competition to win the bid. This bid came out to be the strongest,” said Kishner, co-chair of the Sports Law Group with New York law firm Herrick, Feinstein.
Representatives for the Commanders, the NFL and Harris declined to comment.
For Commanders fans and former employees, progress in the sale process is welcome news.
“Today marks the end of a long, difficult chapter for all employees and fans of the Washington football organization,” said Lisa Banks and Debra Katz, attorneys who represent over 40 former Commanders employees, who alleged widespread misconduct from inside the Commanders front office. “We are proud of our many clients who made this moment possible – the brave women and men who came forward repeatedly and at great personal risk to expose the decades of sexual harassment and financial wrongdoing at the team. Their determination and perseverance forced this sale to happen.”
Commanders owner Dan Snyder announced in November of 2022, that he was putting the Commanders up for sale.
In July 2021, he was fined a record $10 million and removed from day-to-day operations after an investigation found the organization’s workplace “highly unprofessional.”
Snyder and his wife, Tanya, purchased the team in 1999 for $800 million.
Kishner said a sale marks the end of a “very long saga.”
“But alas, I think it’s best for the league. I think it’s best for the team, and I think it’s best for everyone to do well,” he said.
Alexey Ivanov Introduces Alliance Rental: Luxury Transport Rentals by Alliance Trucks
The application, marketing brand, and all business processes are complete, and legal compliance with local laws, rules, and regulations is under process.Alliance Rental offers taxi Rolls-Royce, luxury sport cars, yachts, helicopters, and aircraft rentals. Partnerships with operators of luxury services are currently being signed, and the project is ready to launch soon. Alexey Ivanov’s mission is to make the world a better and cleaner place, live a long, bright, and memorable life, create a family, raise children, create and invent something that deeply touches the feelings of people, be a mentor, teach knowledge, and leave a significant mark in history, society, and culture. For more information on Alliance Rental and Alexey Ivanov, follow him on Instagram at @a.a.ivanov
How Elias Luna Became an Expert in Forex Trading and Built a Thriving Community
Elias Fernando Luna Galarza is a young trader who has made a name for himself in the financial markets. Born in Ecuador, Elias developed an interest in trading at a young age and has been pursuing his passion ever since.
At the age of 20, Elias began studying trading, and he quickly realized that he had a natural talent for it. Despite facing numerous challenges, including financial constraints and the COVID-19 pandemic, Elias persevered and continued to pursue his dream of becoming a successful trader.
Through his dedication and hard work, Elias has managed to turn his passion for trading into a lucrative career. He is now an expert in the foreign exchange market, also known as Forex, and has a track record of achieving impressive results.
Elias is not only a successful trader but also an influential figure on social media. He has a large following on Instagram, where he shares his insights and tips on trading with his followers. He also offers teaching and capital management services to those who are interested in the world of financial markets.
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Elias’ journey has been anything but easy, but he has proven that with dedication and hard work, anything is possible.
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Cortical Labs raises $10M for its Pong-playing stem cells that eventually could power AI
While generative AI is buzzy right now, what OpenAI, Microsoft and Google are doing may be only part of the story. There is also the process of using biology: the idea of using stem cells to create biocomputers that could potentially be smarter and more energy efficient than what we are used to today.
Australian startup Cortical Labs popped up on the radar after Amazon CTO Werner Vogels flew down to Australia to visit their lab recently, and he even wrote about it, calling it “intriguing.”
Cortical combines synthetic biology and human neurons to develop what it claims is a class of AI, known as “Organoid Intelligence” (OI).
It’s now raised a $10 million funding round led by Horizons Ventures, with participation from LifeX (Life Extension) Ventures (the launch of which which we covered last year), Blackbird Ventures, Radar Ventures and In-Q-Tel (the venture arm of the CIA).
The company says it is already in the process of fulfilling orders for its technology.
How it works is that it uses clusters of lab-cultivated neurons from human stem cells to form what it calls a “DishBrain,” which is then hooked-up to hard silicon to create what it describes as a Biological Intelligence Operating System (biOS).
Some observers say this is the future of AI because human neurons could be better than any digital AI model for generalized intelligence, given that they are self-programming and require far less energy consumption.
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