Mat Ishbia Interested in Buying Commanders; Previously Bid on Broncos Ownership

Mortgage executive and former Michigan State basketball player Mat Ishbia has expressed interest in purchasing the Washington Commanders, he told Mark Maske and Nicki Jhabvala of The Washington Post on Friday.

"The NFL is a great league and Washington is one of the elite franchises," Ishbia said in a statement issued to The Washington Post through a spokesperson. "I am interested in exploring this opportunity further in the very near future."

Ishbia is currently the president and CEO of United Wholesale Mortgage. He has a net worth of $4.6 billion, as estimated by Forbes.

Ishbia bid on the Denver Broncos when they were put up for sale by the Pat Bowlen Trust, but the team was eventually sold to Walmart heir Rob Walton for $4.65 billion in June, making it the largest team sale in North American sports history.

However, the Commanders could rewrite the history books if sold. Sports Illustrated's Albert Breer reported that the "baseline" price for the franchise would be $5 billion and it could climb as high as $7 billion.

The Commanders announced Wednesday that owners Daniel and Tanya Snyder had hired Bank of America to "consider potential transactions" relating to the franchise, signaling that they may consider selling all or part of the team.

Ben Fischer of the Sports Business Journal reported Thursday that the Snyders' decision came after other NFL owners, including Indianapolis Colts owner Jim Irsay, had confronted Daniel Snyder in recent weeks about selling the team:

"Jim Irsay was the only one who said his piece in public, but other NFL owners have confronted Snyder privately in recent weeks—and more have told commissioner Roger Goodell that something must give, sources tell me. Wednesday's shock announcement from the Snyders that they'd entertain offers for the team, those same sources said, came in light of that growing consensus that the end must come, one way or another."

The Snyders have owned the Washington franchise since 1999, and the team has become one of the worst in football since then, winning just two playoff games and becoming a massive disappointment both on and off the field.

Since taking over as owner, Daniel Snyder spent years refusing to change the team's racist nickname, has faced sexual harassment allegations and both the NFL and House Oversight Committee launched investigations into toxic workplace allegations against the franchise. In addition, the Federal Trade Commission and the Virginia attorney general investigated Snyder and the Commanders for financial improprieties.

The team's allegations of financial impropriety have since reached the federal level, per ESPN's Don Van Natta Jr.

The on-field product for Washington under Snyder has also been subpar, as the Commanders have gone 160-216 during his tenure, reaching the playoffs just six times and winning two postseason games since 1999.

In addition to Ishbia, Amazon founder Jeff Bezos and Jay-Z have expressed interest in purchasing the Commanders. A partnership between the two is possible, according to Charlotte Triggs and Natasha Dye of People.