Report: Jeff Bezos will sell Washington Post and purchase an American football team.
One logical buyer is reportedly interested in buying The Washington Post and plans to submit a bid, according to a source with direct knowledge of the situation.
According to the New York Post, the creator of Amazon Jeff Bezos is likely to sell the American newspaper Washington Post in order to purchase the football team Washington Commanders.
One logical buyer is reportedly interested in buying The Washington Post and plans to submit a bid, according to a source with direct knowledge of the situation. The source refused to give the suitor's name. The buyers and sellers of a second newspaper claimed to have heard rumors that the source would be up for sale.
A Bezos representative, however, claimed that the Washington Post is not for sale, contrary to various media reports. A journal spokeswoman confirmed that the paper is not up for sale. News Corp, the newspaper's owner, also owns the New York Post.
Notably, Bezos paid USD 250 million for The Washington Post in 2013. According to the New York Post, Bezos is 'trying to clear the way' to purchase the Commanders from owner Dan Snyder, who is under fire.
The Commanders, who have won three Super Bowls and hoisted the Lombardi Trophy in 1983, 1988, and 1992, are reportedly viewed by possible investors as a club in a significant market that is still growing.
Bezos is reportedly in jeopardy because floundering Commanders owner Dan Snyder is still upset with the prestigious newspaper's series of exposés revealing a toxic management culture at the team, where officials including Snyder are supposedly accountable for allowing sexual harassment.
Front Office Sports, a multiplatform media outlet that focuses on how sports affect business and culture, reported that Bank of America, hired by Snyder to auction the Commanders, "continues to court Bezos — even if there are indications that Snyder doesn't want to sell" to the founder of Amazon, according to the New York Post.
Bezos, who reportedly has been in talks with Jay-Z to form a buyout deal, wasn't among the buyers whose first-round bids the Commanders reportedly accepted last week.
Bezos has made it clear that owning a newspaper was never his intention in public. Bezos was convinced to buy the Post in 2013 by its former owner Donald Graham in order to assure financial stability and promote online expansion.
Additionally, Bezos has repeatedly stated that football is his favorite sport, but he has never publicly stated if he would like to add an NFL club to his organization.
The newspaper reportedly intended to lose money in 2022 following years of gains as circulation fell after the end of the Trump presidency, while rapidly expanding under Bezos with extensive coverage.
Given his immense wealth and purchasing power, if Bezos does make a bid for the team, it will be an interesting test for the Snyders.
Jeff Bezos, the creator of Amazon and one of the richest men in the world, disclosed his long-term plans for his multibillion-dollar fortune in November.
The billionaire claimed he intended to give the majority of his riches to charitable organizations throughout his lifetime in an interview with the American channel CNN.