The list of potential bidders for the Washington Commanders is getting longer.

Fenway Sports Group owner John Henry is a possible contender for the NFL team, according to the New York Post, after current owner Dan Snyder hired Bank of America earlier this month to explore a sale of the team.

Henry’s name is thrown in the mix as Fenway Sports Group explores a sale of Liverpool FC, which could reportedly fetch up to $5 billion.

• Forbes last valued Liverpool at $4.45 billion. 
• The Post reported that Henry could already have a deal with an “unnamed Qatar-based investor.”
• FSG is an owner of the Boston Red Sox, Roush Racing, and the Pittsburgh Penguins.

“This may be a precursor to him buying the Commanders,” a Post source said. “John wants to own an NFL team.”

The Commanders could reportedly go for anywhere from $5.6 billion — Forbes’ most recent valuation — to $8 billion. 

Henry would face an expected bid from Jeff Bezos — whose estimated net worth is $127.2 billion — rapper Jay-Z, and actor Matthew McConaughey. 

Brooklyn Nets star Kevin Durant has also expressed interest in being an owner.

Investigation Announcement

On Thursday, the office of District of Columbia Attorney General Karl Racine said it filed a consumer protection lawsuit against Snyder, the Commanders, the NFL, and commissioner Roger Goodell for colluding to mislead customers about a workplace misconduct investigation in an effort to retain revenue.

The defendants “could face millions of dollars in penalties.”

The fall of a crypto giant is causing reverberations across the sports world.

Crypto exchange FTX is scrambling for around $8 billion — including $4 billion just to stay solvent — after rival exchange Binance backed out of a deal to acquire it.

The fall of FTX will likely have implications for the athletes, teams, and sports leagues that made deals with the crypto exchange.

• A Miami-Dade County representative told Front Office Sports that it will explore legal remedies should FTX be unable to pay the balance on its 19-year, $175 million naming rights deal for the Miami Heat’s arena, signed in March 2021.
• FTX also has deals with MLB, UC Berkeley, the Mercedes Formula 1 team, and star athletes including Tom Brady, Steph Curry, and Shohei Ohtani.
• Brady was an investor in the company, which was recently valued at $32 billion. 

FTX and the Los Angeles Angels reportedly abandoned a deal over the summer due to falling crypto prices.

Another Crypto Tumble

FTX’s own token lost over 88% of its value in the past week, dropping to a market cap of $1.16 billion.

Its precipitous fall has shaken the broader crypto market: Bitcoin and Ethereum dropped a respective 18.9% and 22.7% over the past five days.

It is unclear if the fallout will affect existing tie-ups with other crypto exchanges, such as Binance’s deals with Cristiano Ronaldo and Serie A club Lazio, or Crypto.com’s 20-year, $700 million deal for the naming rights to the home of the Los Angeles Lakers, Clippers, and Kings.

An investment firm based in the United Arab Emirates is the latest entity to express interest in international soccer.

The Liga de Futebol Brasileiro (Libra) has agreed to sell a 20% stake of its commercial rights to Mubadala Capital Ventures — owned by Mubadala Investment Company — for $971 million.

The minority stake in the newly established Brazilian league drew interest from three investment companies, including two U.S-based private equity firms. 

• Libra has 90 days to approve or deny Mubadala’s offer.
• The league is made up of 14 clubs and may add two more after the investment.
• It is expected to be fully operational starting with the 2025 season. 

Mubadala’s investment has been approved by all 14 member clubs despite backlash from 25 other Brazilian clubs, mainly from the second division. 

Impressive Portfolio 

A minority stake in Brazilian soccer commercial rights would add to an extensive portfolio of sports-related investments for Mubadala and its investment vehicle. 

Disney sold an 80% stake in the New York Yankees’ regional YES Network to a consortium that included Mubadala Investment Company. In January, the company agreed to become the title sponsor of SailGP’s Season Two Grand Final.

In March, Mubadala Capital Ventures announced plans to invest $50 million over the next five years in the FIM Supercross World Championship — a new motorcycle racing event.

The firm also owns a majority stake in IMX Sports and Entertainment.