Merely Seven Days After Landmark $6.05 Billion Deal, Struggling Commanders Sale Narrative Hit With Big Twist Worth $500 Billion

The Washington Commanders are going through a period of struggle. Ever since Dan Snyder announced his intentions of parting ways as the owner of the franchise, there has been no conclusive answer as to who will be the next owner. In the race to acquire the NFL franchise, Josh Harris and his group, which includes NBA legend Earvin ‘Magic’ Johnson seem to be leading the pack, as their $6.5 billion bid for the Commanders almost materialized into an agreement between the two parties.

Yes, almost. Almost because the narrative of the sale of the Washington Commanders got hit by a major setback. A setback that is worth $500 billion. And this roadblock has put a halt to all of the developments taking place for the future of the franchise in the NFL.

The Commanders’ $500 Billion problem

Apart from Josh Harris and Co, businessman Brian Davis had also filed a $7 billion bid in the race to acquire the franchise from the hands of Snyder. The bid stated that they would immediately transfer $1 billion to Snyder after the agreement, and the remaining amount within the next two days. But the bid saw a dramatic end after Davis’ company, Urban Echo Energy, was charged with allegedly failing to repay around $322,000 in loans to a DC man. Now, with the Commanders almost being at the tip of the fingertips for Harris and the group, the story of the Commanders has a new twist after a $500 billion lawsuit filed by Brian Davis’ company on Bank Of America.

Urban Echo Energy filed a lawsuit against the Bank of America, claiming that it hindered their developments in the Commanders’ purchase. The lawsuit claims that Urban Echo Energy transferred $5.1 billion to BOA in two different transactions. Now Davis claims that the bank “failed to deposit the bank drafts”, which led to him being out of the conquest. 

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Ever since the Commanders were up for sale, Josh Harris and his group were considered the only serious contenders in terms of acquisition of the franchise. And they almost did.

Harris and Co almost became the new owners of the Commanders

About a month ago, the two parties agreed on principle to a deal worth $6.5 billion for the Commanders. When both sides announced the finalization of the deal around a week ago, it was going to be the largest deal for a North American professional sports franchise. The deal would also surpass the $4.5 billion acquisition of the Denver Broncos last year by the heir of Walmart, Robert Dalton. NFL owners still had to vote on the deal, however, Jeff Miller, the executive vice president of communications, public affairs, and policy, gave confirmation that there wouldn’t be a vote on the sale of the Washington Commander when they meet this Sunday or Monday.

But with the fresh developments in place, it will altogether be another story in the conquest of the Commanders. Fans will be waiting in anticipation for updates on the lawsuit to see what lies ahead in their team’s future in the NFL.

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