Magic Johnson’s group’s proposal to buy the NFL’s Washington Commanders for $6 billion has been rejected by Brian Davis, an African American investor from the Washington, DC region. He is said to have made a $7 billion solo bid for the franchise.
Davis founded Urban Echo Energy LLC, a Black-owned LEED-certified developer of renewable energy assets, and previously owned a minority stake in DC United, a major league soccer team. He also played college basketball at Duke University before joining the Minnesota Timberwolves in the early 1990s.
According to WUSA9, Davis is willing to pay the first $1 billion to the team’s current owner, Dan Snyder, within 24 hours, and the remaining $6 billion within seven days. He claims to have raised the funds by selling his own intellectual property, which is estimated to be worth $50 billion.
Bank of America, which is handling the sale, is said to be in contact with Davis regarding the transaction. Nothing has been formalized yet, but if the agreement goes through, Davis will become the NFL’s first Black majority owner.
