The Washington Football Team could have a prominent new investor in the making.
According to popular Washington Football Team blogger Burgundy Blog, rapper and business mogul Jay-Z is "actively divesting assets to position himself for purchase" of a stake in the Washington Football Team. Burgundy blog importantly notes that "nothing is imminent" and such deals "take months and sometimes break down."
"If you listen to my podcast... I've been saying this for months," JP Finlay said Wednesday on 106.7 The Fan, lending some credence to the report. "I heard it from somebody sort of connected to the NFL eight, nine months ago that this could happen."
In March, it was reported that the NFL had approved a $450 million debt waiver allowing Dan Snyder to buy out his minority partners, Fred Smith, Dwight Schar and Robert Rothman, to the tune of $950 million for Snyder to take control of the remaining 40 percent of the team.
As Finlay notes, at some point, Snyder could look to sell a minority stake in Washington once again.
"Listen, Dan Snyder just had to take out a debt to buy off the rest of the team," Finlay said. "Eventually he's going to sell out parcels of this team again. That's how it works. You're gonna get some cash."
"We know that Jay-Z is working with the NFL. There's no way he doesn't want ownership in the NFL," he continued. "I believe he had ownership in the Brooklyn Nets at one point. He no longer does, I believe. And just start listening to some of these things."
Finlay further notes that Washington recently hired a new Chief Financial Officer in Greg Resh, who previously held the same position with Roc Nation, the sports and entertainment agency founded by Jay-Z.
"Do you know who Greg Resh is?" Finlay said. "The Washington Football Team hired Greg Resh to be the Chief Financial Officer. They hired him in November of 2020."
"I'm gonna read you his bio. Tell me if anything stands out to you," he said, before pointing out Resh's connection to Jay-Z.
"You get the money guy from Roc Nation, and you know who comes next? Shawn Carter," he said.
"Let's go one step further," Finlay added. "If you have a team that doesn't have a name, and eventually has to rebrand itself, who's the coolest dude on the planet to help guide you through a rebrand? Who's the coolest dude you could possibly have in your suite, on your sidelines, to get interest in a new stadium?"
In a surprising public interview with TMZ last week, Snyder appeared alongside team president Jason Wright outside of SoFi Stadium, which he said was on their stadium tour list as they look to draw inspiration for Washington's next stadium, which Snyder plans to have ready by 2027 (despite no known beginning stages for a stadium).
Kevin Sheehan of The Team 980 added some context of his own around Burgundy Blog's report:
While prospective NFL owners are often reluctant to take on a minority share, because of the lack of control and no voting power, it's often seen as a pathway to majority ownership. As was the case with David Tepper, who previously held a stake in the Steelers, which gave him an inside track to purchase the Panthers from Jerry Richardson in 2018.