Report: Steve Apostolopoulos Among Commanders Bidders After Considering MJ's Hornets

Another candidate has entered the bidding for the Washington Commanders.

ESPN's Brian Windhorst and Adam Schefter reported Canadian billionaire Steve Apostolopoulos has made a bid for the Commanders, making him the third known party to do so.

According to the report, Apostolopoulos had also shown interest in purchasing the Charlotte Hornets from Michael Jordan but has focused his efforts on Washington's NFL franchise instead.

The Washington Post's Mark Maske and Nicki Jhabvala reported in February that Houston Rockets team governor Tilman Fertitta submitted a bid of "slightly above $5.5 billion" for the Commanders.

Another group led by Josh Harris, who has ownership stakes in the Philadelphia 76ers and New Jersey Devils, has made a formal bid as well. Basketball legend Magic Johnson recently joined the Harris contingent, according to Stephen Whyno of the Associated Press.

In November, Dan and Tanya Snyder announced they were soliciting the services of BofA Securities to explore a sale of the Commanders.

The organization has been a model of dysfunction under the current owners, so the fanbase would likely welcome a regime change.

Washington hasn't won a playoff game since 2005, cycling through a number of head coaches and starting quarterbacks over that span. Off the field, the Commanders have been mired in scandal due to their toxic workplace atmosphere.

The sheer scale of a potential sale complicates matters, though.

Forbes valued the Commanders at $5.6 billion last August. That price tag would smash the current record for the most expensive sports franchise. The Denver Broncos changed hands for $4.65 billion last summer.

Front Office Sports' A.J. Perez reported in February that the Snyders were awaiting a $7 billion bid, with $6.3 billion believed to be the highest offer to that point.

The Snyders aren't yet facing sufficient pressure from inside the league to remove themselves from the ownership picture. Josh Kosman of the New York Post reported on March 10 that NFL owners don't have amount of votes required to force a sale.