Bids are coming in for the Washington Commanders and they have been higher than some expected, according to a new report.
Daniel Snyder, who last month hired Bank of America to help facilitate a potential sale of the football team he purchased over 20 years ago, has received bids for the franchise for "well north" of $7 billion, according to a report by Forbes citing "people familiar with the process."
"At least 5 and possibly as many as 7 bidders [are] expected for the Commanders," according to 106.7 The Fan's JP Finlay.
Finlay tweeted Thursday evening that the bids are due Friday, Dec. 23, and the price tag "was believed to be at least $6 billion but has gone up after the announced sale of the NBA's Phoenix Suns at a $4 billion valuation
Forbes valued the Commanders at $5.6 billion, good for the sixth highest in the NFL. That August valuation did not include the real estate that would be a part of the sale of the franchise, however.
Forbes reports the real estate in any deal would include FedEx Field (and 264 acres around it) as well as 150 acres at the team's Ashburn headquarters.
In early November, Forbes first reported and the team confirmed in a statement Dan and his wife, co-owner Tanya Snyder, had hired Bank of America Securities "to consider potential transactions."
"The Snyders remain committed to the team, all of its employees and its countless fans to putting the best product on the field and continuing the work to set the gold standard of workplaces in the NFL," the Snyders' November statement read.
A great deal of speculation about potential suitors has followed.
Snyder purchased the franchise in 1999 for $750 million.
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