A new potential buyer for the Washington Commanders' franchise has emerged. Steve Apostolopoulos, a billionaire from Canada, has joined the group of potential bidders to purchase the Commanders, according to ESPN. Apostolopoulos recently toured the team's stadium and training facility, according to the report.
Apostolopoulos has also been in the mix to purchase the NBC's Charlotte Hornets. A Toronto native who attended Harvard, Apostolopoulos is the founder of Six Ventures Inc., which is a private equity venture fund. He also contributes to a considerable amount of philanthropic organizations.
Apostolopoulos is one of three known bidders for the Commanders. A group led by Josh Harris and Houston Rockets owner Tilman Fertitta are the other two known bidders. Mitchell Rales, a Washington D.C. billionaire and the founder of the Danaher Company, has partnered with Harris in their attempt to purchase the club. Magic Johnson, the NBA Hall of Fame point guard and part owner of the Los Angeles Dodgers, has also joined Harris' group.
Current Commanders owner Dan and Tanya Snyder announced their intention to sell the team last November. They reportedly want to sell the team for $7 billion. Forbes has listed the franchise's value at $5.6 billion.
Washington is 164-220-2 during Snyder's ownership, which started in 1999. The franchise has won two playoff games and has made the playoffs six times over that span.