Jeff Bezos is interested in bidding for the NFL’s Washington Commanders, possibly with music mogul Jay-Z as an investor, according to a person familiar with the matter.
Billionaires Dan and Tanya Snyder said that they’re exploring options including a sale of the Commanders, weeks after facing renewed pressure to step down. The team and its owners hired Bank of America Corp to “consider potential transactions”.
Should Mr Bezos enter the bidding for the Commanders and apply his $115 billion personal fortune, it would be hard for others to compete. He’s the world’s fourth-richest person, according to the Bloomberg Billionaires Index.
The Commanders, which last finished with a winning record in 2016, have an estimated value of about $4.8bn, according to Sportico. At that price, it would exceed the $4.65bn that a group led by Rob Walton paid for the NFL’s Denver Broncos earlier this year.
A Commanders representative declined to comment on Mr Bezos’s interest.
Mr Bezos, the founder of Amazon.com Inc, has been on a buying spree in recent years. In early 2020 he agreed to pay $165 million for a Beverly Hills mansion on nine acres, setting a record for a Los Angeles-area home. He also commissioned a 417-foot-long superyacht, which likely cost more than $500m to build and drew scrutiny earlier this year for almost forcing the dismantling of a Dutch bridge.
Jay-Z, whose real name is Shawn Carter, was formerly a minority owner of the NBA’s Brooklyn Nets.
Amazon, meanwhile, is weeks into an 11-year, $13bn deal that makes it the exclusive home of the NFL’s Thursday Night Football. Its first regular-season broadcast drew 13 million viewers to its streaming service, delivering an online audience that rivals traditional TV.
TMZ earlier reported the potential interest, as did the Washington Post, which is owned by Mr Bezos.
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How to play the stock market recovery in 2021?
If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.
Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.
Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.
Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).
Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal.
Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.
By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.
As demand for energy fell, the oil and gas industry had a tough year, too.
Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.
He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.”
This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”
Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.
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