A $7B offer to buy the Commanders by a DC native is still in play, source says

WASHINGTON — The Washington Commanders sale may not be as finalized as reports indicated Thursday evening, according to new information obtained by WUSA9. 

Bank of America -- the group handling sale offers for Dan and Tanya Snyder -- was still in communication with at least one of the other bidders as of 8:30 p.m. Thursday, asking if they were available to proceed with their offer, according to a source close to the deal. 

The bid being discussed was made by D.C. native Brian Davis, as a $7 billion cash offer. Bid details were first reported in March by "The Sports Junkies" on 106.7. Documents obtained by WUSA9 confirm the financial details of the bid made by Davis on March 21. According to the documents, Davis is offering to pay the first $1 billion to Dan Snyder within 24 hours, and $6 billion within seven days. Davis is also willing to indemnify Dan Snyder as a condition of his offer, according to the March 21 letter, meaning Davis is willing to take on any legal liability related to Dan Snyder and ongoing investigations into the team.

Sources said Thursday afternoon that Dan Snyder had reached an agreement with an investment group led by billionaire Josh Harris, to sell the team for $6.05 billion; the deal would be the highest price paid for a North American professional sports franchise. Forbes estimates the team is worth $5.6 billion. 

Harris, a co-owner of the Philadelphia 76ers, joined Maryland philanthropist Mitchell Rales and NBA great Magic Johnson to pull together their bid. The deal was reported to be non-exclusive, meaning someone else could come into the ownership group.

Who is Brian Davis?

Davis, a former Duke University basketball player who went on to play for the Minnesota Timberwolves from 1993-1994, is the owner of Urban Echo Energy LLC, a LEED certified developer of renewable energy assets. He went to Bladensburg High School and was previously a minority owner of DC United. 

Any sale of the Commanders is pending execution of a contract and requires approval from 24 of 32 owners to pass. But if it were finalized, Davis would become the first Black owner in the NFL. 

"With the Washington D.C. metropolitan area having a significant minority population ... Urban Echo believes that African American ownership in the Company will be a vital component to enhancing the social infrastructure in the local community," Davis' offer letter to Dan Snyder says. "There is a significant opportunity to enhance the existing fanbase." 

His bid letter also indicated his intention to use renewable energy in all Commanders "operations and community developments" and plans to "optimize economic growth" in the neighborhoods surrounding any future team stadium. 

When asked for comment Friday about whether the team was still discussing Davis' offer, a Commanders spokesperson declined to comment.