AJ Perez from Front Office Sports has been a key media figure in reporting the Commanders’ sale process, and on Tuesday, he broke news that funding for Brian Davis’ alleged $7 billion cash bid for the team may be coming in part from the Middle East.
Perez jumped on with BMitch & Finlay Tuesday afternoon with the latest on where Josh Harris is:
“The paperwork for Josh Harris’ deal is in to the NFL, and all signs point to him, so he’ll have to send a $25,000 check with the application in to the NFL and then the process begins,” Perez said. “Obviously it’s a non-exclusive agreement so someone else could still swoop in, but all signs point to Harris.”
Oh, and as for that someone else, what about Davis, his bid, and his potential backers?
“First you have to verify he has the money, and as we know, he had some business dealings that went south, and a lot of lawsuits,” Perez said. “Where this money’s coming from…I found eight LLCs created in Delaware in January, and talking to the Davis camp, there’s not much clarity, but they’re acting like it’s a real bid, and for not having a lot of details, they seem pretty confident.”
JP finds that confidence “astounding,” and he’s not sure he buys it as more than bluster.
“This is a very odd story,” Perez said. “We had some questions about Steve Apostolopoulos, but we know what his family is worth. You have to have 30 percent liquidity, so for a $7 billion bid, Davis would have to have more than $2 billion liquid, and it has to be him. It’s on Bank of America to figure out where it’s from, but you can’t all of a sudden just have money. Even if you hit a $50 billion lottery, you know where the money came from. Selling IP, that just doesn’t make any sense – and he would be like one of the Top 20 wealthiest people in the country with that much money.”
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As Perez noted, people with that much money usually have better business presence on the web or in the charity world, but there’s nothing out there on Urban Echo Energy – which was a trademark filed for barely a year ago as it is.
“A lot of people just don’t take this seriously,” Perez said, “but once this is final, we’re going to learn so much about how this all went down. Reporting has hit on a lot, but certain things are going to come out of this over the long run about this very wild process.”
BMitch noted that the fact other bids were still being taken tells you all you need to know, because if there was a legit bid of $7 billion, there’d be no reason to keep going. AJ also mentioned how Davis’ stadium plan is to just upgrade FedEx Field, which is “not the best idea,” and went a little more in depth on indemnification and whether or not Snyder is actually seeking it.
Take a listen to the entire segment above!
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