A Canadian billionaire is among those in the market to buy an NFL team.
According to a report from ESPN’s Brian Windhorst and Adam Schefter, Toronto-born billionaire investor Steve Apostopolous is “the newest potential bidder” that “seeks to buy” the Washington Commanders NFL franchise.
Apostopolous is the founder of Six Ventures Inc., a private equity venture fund, as well as a Managing Partner of Triple Group of Companies, a Toronto-based full-service real estate firm. He would be the lone Canadian-born NFL owner, should he be successful with the purchase.
“Apostolopoulos also recently had discussions to buy the NBA’s Charlotte Hornets from Michael Jordan but has focused on the opportunity to purchase the Commanders, according to sources,” Windhorst and Schefter reported.
He is expected as one of three current bidders for the franchise, along with Philadelphia and New Jersey Devils owner Josh Harris, and Houston Rockets owner Tilman Fertitta. There is speculation that Amazon founder Jeff Bezos is interested in the ownership of the team, per ESPN, while NBA Hall of Famer Magic Johnson has reportedly joined Harris’ bid.
The Commanders were put up for sale in November by current owner Dan Snyder, and are asking around $7 billion for control of the team, with Forbes listing the team’s value at $5.6 billion.
Snyder bought the team in 1999 for a reported price of $800 million.
Though the team had won three Super Bowls from 1982 to 1991, they have struggled in recent seasons, having made the NFL playoffs just twice since 2013, and have not won a postseason game since 2005.
But for those wondering if Apostolopoulos might be moving his team north to Canada, don’t hold your horses: the Commanders have played consistently in the Washington D.C. metropolitan area since 1937, currently calling the city of Annapolis, Maryland home.
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