Steve Apostolopoulos vs Josh Harris: Washington Commanders Deal is Reportedly “Still Wide Open” as Billionaires Tussle to Get a Foot in the Door

The state of uncertainty looms over Dan Snyder and his proposition for selling the Washington Commanders as disputing claims emerge stating the sale has not been finalized yet. It was earlier reported that Snyder had agreed upon terms for the NFL franchise to be sold to Josh Harris and his other associates in the group. However, a potential bidder has come forward to challenge the ongoing rumors.

Just hours after the announcement of a $6 billion deal, Canadian businessman Steve Apostolopoulos seems to have been involved in the mix and is bidding for the same amount. It means the game is still on, and it might eventually lead to a bidding war.

Is it just Josh Harris vs Steve Apostolopoulos now?

For the last couple of months, Snyder happened to catch headlines for his desperate attempts to find a replacement. It appeared the 58-year-old found an appropriate chairman in Josh Harris for a record price of $6 billion. However, things have twisted ever since the conflicting theories emerged.

Harris, who owns the NBA team Philadelphia 76ers and the ice hockey team New Jersey Devils, has partnered with billionaire Mitchell Rales and Hall of Famer Magic Johnson to propose the $6 billion bid.

NEWS: Dan Snyder has agreed to sell the Washington Commanders.

The group includes billionaire Mitchell Rales and Magic Johnson pic.twitter.com/zN5XqgAEmW

— Action Network (@ActionNetworkHQ) April 13, 2023

Later on, ESPN reported that Steve Apostolopoulos had entered the market and had previously proposed a similar offer sheet. “It’s a head-to-head race. … It’s anyone’s game,” an anonymous insider pitched to the outlet. It means Snyder can now play games and introduce an auction with a massive base price of $6 million.

In fact, this price has wreaked havoc across the internet. Because last year’s Denver Broncos’ $4.65 million sale to the Walton-Penner family was projected as the highest ever in history, but the Commanders seem to have surpassed all the existing trends.

How much are the Washington Commanders valued at?

Snyder is certainly making a big chunk of money after keeping the ownership rights to himself for 24 years. When he bought the franchise in 1999, the veteran paid $800 million, which is roughly estimated at around $1.24 billion, considering the inflation. Looking at the current proposed bid, it has skyrocketed by a huge margin.

Tilman Fertitta, who proposed a bid for the Commanders, had an asking price of $5.6 billion, in line with the Forbes estimates. He believes nothing more than that is valid and seems logical. “At some point, you’ve got to draw a line in the sand, and that’s where we are,” Fertitta said in an interview.

“If they can get somebody to pay them more than that, good luck to them. … I don’t think $6 billion is the right number,” he added. Anyway, it will be interesting to see who wins the bidding war. As this is a developing story, readers can stay tuned for more updates.