The Washington Football Team could have a prominent new investor in the making. His name is Sean Carter aka Jay-Z.
According to multiple media outlets, the rapper and business mogul, is “actively diverting assets to position himself for purchase” of a stake in the Washington Football Team.
Although “nothing is imminent” and such deals “take months and sometimes break down.”
The NFL has never had a Black majority owner in its history and Jay-Z could be working his way towards becoming the first. First, he has to get into the club on the ground floor.
It’s been rumored that Jay-Z’s had an interest in being a team owner for about 8 or 9 months now. And in March, it was reported that the NFL has approved a $450 million debt waiver to buyout Snyder’s minority partners — Fred Smith, Dwight Schar, and Robert Rothman — to the tune of $950 million for Snyder and his family to take control of the remaining 40% of the team.
Many believe Snyder will look to once again add minority investors, and Jay-Z’s name has come up as a real possibility.
READ MORE: Washington Football Team Is Breaking Ground, Hiring Minorities To Leadership Positions
Snyder’s going to look to add some cash back into his pocket after buying out his other investors in a messy divorce.
We know Jay-Z is working with the NFL and there’s no way he doesn’t want an ownership stake in the league.
He once held a very small ownership stake in the Brooklyn Nets.
Washington Football Team hired a new Chief Financial Officer in Greg Resh, who previously held the same position with Roc Nation, the Sports and Entertainment agency founded by Jay-Z.
Resh was hired by Snyder in November 2020. You bring in the money guy from Roc Nation and next you get the head honcho Sean Carter himself. That connection in this process can’t be overlooked or understated.
Looking a little further into the situation, the team currently doesn’t have a name, and eventually will have to rebrand itself.
Probably won’t find a more well-respected guy on the planet than Jay-Z to help with that rebranding.
Having him in your suite, on your sidelines and even helping you in your quest to build a new state-of-the-art stadium, is invaluable.
In a surprising public interview last week Snyder appeared alongside team President Jason Wright outside of the beautiful new SoFi Stadium in Los Angeles, which he said was on the touring list of stadiums he and Wright would use to help draw inspiration for the WFT’s new stadium.
The goal is to have a new stadium up and running by 2027, (this despite not beginning stages for a stadium).
The team has been working with Jay-Z’s Roc Nation for awhile now through marketing, media relations etc.
The biggest hiccup could come in the form of Jay-Z becoming a minority stakeholder, which might not satisfy the financial ambitions of someone of his stature.
Being a minority owner may not be super attractive to HOV because of no voting stock. Synder would still remain in complete control.
Snyder has been more open to change amidst a myriad of issues that his franchise has faced in the last calendar year. He hired the league’s first minority team President in Wright and then placed WFT legend and Super Bowl MVP Doug Williams under Wright in a bit of a reshuffling of the deck out in Ashburn. He also hired a minority head coach in Ron Rivera.
But this is Jay-Z aka Sean Carter aka HOV and he isn’t just some rich guy, he’s an ICON and if this marriage does happen it could really benefit the WFT in so many ways.
