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Todd Boehly appears to be one of the favorites in the running to acquire the Washington Commanders. In November 2022, Dan Synder, who has owned the team since 1999, put the Capital City franchise up for sale, after he employed the services of Bank of America to explore possible transactions.
Boehly, who is an American businessman and investor, owns several sports franchises inside and outside of the United States. Will the Washington Commanders be added to his portfolio next?
Boehly's experience in sports franchise ownership
Todd Boehly is no stranger sports team ownership. The founder and controlling shareholder of Eldridge Industries has an ownership stake in a number of sports teams around the world. Since making his first investment in a sports team, Boehly hasn't stopped expanding his reach.
His first foray into sports team ownership was with the Los Angeles Dodgers. He led a consortium that included Mark Walters and Magic Johnson in purchasing the declining MLB team from Frank McCourt in March 2012.
His leadership of the team led them to become the league's biggest spender, overtaking the New York Yankees.
Boehly extended his reach within Los Angeles two years later, leading the same consortium in acquiring WNBA team the Los Angeles Sparks in February 2014. He also acquired a 27% stake in the Los Angeles Lakers with Mark Walters in July 2021, making this his third Los Angeles sports team investment.
Todd Boehly's first sporting investment outside the United States was with Chelsea FC. He led a consortium to purchase the London-based soccer team from Roman Abramovich after the Russian was forced to sell as a result of the invasion of Ukraine by his homeland.
In less than a year under Boehly, Chelsea has become the highest-spending team in the soccer world.
Boehly's chances of acquiring the Commanders
Todd Boehly faces stiff competition in his bid to acquire the Washington Commanders. The franchise has no shortage of bidders who are willing to take over from Dan Synder, and the first round of bidding saw an impressive level of interest.
With the likes of Jeff Bezos, Josh Harris, and John Henry in the race to be the next owner of the former Redskins, it's not certain who the preferred bidder is. However, it seems a deal is imminent now that Dan Synder and his wife Tanya have cleared out their offices at the team's headquarters in Ashburn, VA.
Boehly will definitely be leading another consortium in a bid to acquire the Commanders. It looks like some of those involved in the acquisition of the Dodgers and Chelsea within the Guggenheim Partners and Clearlake Capitals might be involved. Will the group be able to convince Synder, who is reportedly holding out for a $7 billion fee, to sell to them?
