Jeff Bezos Might Be Targeting NFL's Washington Football Team: Report

The head of Amazon.com AMZN announced earlier this month he would step away from the CEO role of the company he founded. All eyes are on what could be next for Jeff Bezos and a report out Monday could point to the famed entrepreneur taking on the role of NFL owner.

What Happened: Bezos has explored taking an ownership position in the NFL's Washington Football Team, according to Front Office Sports.

The current Amazon CEO is said to have held talks about buying a stake in the team, which plays in Washington D.C.

Three minority owners of the Washington Football Team hired Moag & Co, a Baltimore-based sports investment banking firm to explore a sale. Bezo’s attorney held talks with Moag & Co, according to the report.

Current Washington Football majority owner Dan Snyder has claimed an extortion campaign forcing him to sell the team is being wagered. Snyder blocked the sale of a stake in the team by existing owners using his right of first refusal.

FedEx FDX CEO Fred Smith is among the owners of the Washington Football Team that are suing Snyder for blocking the sale.

Back in November of 2019, CBS Sports reported Bezos was interested in buying a team and said he "has strong support within the league to eventually join their ranks."

Related Link: Jeff Bezos Is The First Person Worth $200B Thanks To Amazon Stock’s Run

Why It’s Important: Bezos has made several deals and purchases that point to Washington D.C. being a new key location for the notable entrepreneur.

Bezos purchased the Washington Post in 2013. Amazon’s second headquarters is in Arlington, Virginia, located near Washington D.C. Bezos also purchased a 27,000 square feet mansion in Washington D.C. in 2016 and spent $12 million to renovate the home.

The Washington Football Team is the eighth-most valuable NFL team, according to Forbes. The team is valued at $3.5 billion and has seen its value rise 8% on an annualized basis over the last several years.

The move into NFL team ownership comes as Amazon.com is pushing into sports streaming rights and is considered one of the companies that will make a play at NFL rights coming to market soon.

AMZN Price Action: Shares of Amazon were down 2% to $3,180.74 on Monday.

Photo credit: DoD by Senior Master Sgt. Adrian Cadiz (Released) [Public domain]

Posted In: Dan SnyderFred SmithJeff Bezosnflsports team ownershipNewsSportsTop StoriesMediaGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.