“Time for Black ownership” – Stephen A. Smith supports Jay-Z in his attempt at Washington Commanders purchase

The Washington Commanders may be up for sale soon, and ESPN's Stephen A. Smith believes this is an opportunity for the NFL to welcome Black owners in its midst. One prominent name in the mix is Jay-Z.

News broke recently that Dan and Tanya Snyder are asking Bank of America for assistance in a possible sale of the Washington Commanders. Following this, Smith stated on ESPN that the Denver Broncos have Mellody Hobson as part of its ownership group.

The NFL analyst added that to his knowledge, there aren't any majority Black owners in the NFL. He believes that in terms of team ownership, there is a lack of representation and diversity.

It appears Smith's wish may very well come true, with Jay-Z reportedly interested in the purchase of the franchise.

"It's time for black ownership. I know the lady. I think her name is Mellody Hobson, as a part owner of the Denver Broncos if I remember correctly, I hope I'm not wrong about that. But I think that was, but I'm talking about a majority owner of a National Football League franchise, that happens to be a black person.

"That would be nice. One of the things that we have discussed and lamented throughout recent history is the lack of representation, and the lack of diversity when it comes to the ownership group."

Smith continued by saying that he feels having black ownership would lead to more opportunities for black head coaches as well. He then said that Jay-Z and his wife Beyonce could buy a team with the type of financial assets they have. Jay-Z has expressed an interest in becoming an NFL team owner in the past.

"Maybe if there were black owners, more issues would be addressed more pointedly. More transparency with existing, obviously, more coaches would be of African American descent and beyond."

"And so, I think I look at this as an opportunity to ingratiate an African American into the proceedings. You have a guy like Jay Z, with Beyonce, and Lord knows how much money they're worth."

He said that in a league where 65 percent of the players are African American, there should be a more diverse ownership group. He added that there are plenty of people in the industry that have the money to be able to afford such an investment.

"You're talking about groups of individuals that could coalesce and come together and really collaborate and combine their resources to ultimately own franchises throughout the National Football League.

"Why can't that be the case, when we're talking about African American representation on the ownership from an ownership standpoint. It is far time that it happened in the National Football League. Over 65 percent of its players are black."

As they did with the recent Denver Broncos' sale, they will also need to do so, if and when the Washington Commanders are sold.

How much will it cost Jay-Z to buy the Washington Commanders?

According to Forbes' evaluation of every team in the National Football League each year, the Washington Commanders are currently worth $5.6 billion. They were once considered one of the most valuable NFL teams but have dropped to sixth in recent years.

Potential owners would need to create bids at or around the value of what the team is worth in order to be in consideration. With a figure that high, there's no doubt that it would need an ownership group that has very deep pockets.

Are the Washington Commanders for sale?

There have been calls for Dan and Tanya Snyder to sell the Washington Commanders team for many years. The recent controversies involving a toxic work culture and sexual harassment accusations have added fuel to the fire.

There have also been allegations of financial impropriety at the organisation. Dan Snyder named his wife Tanya the team's CEO, and she has been representing the team at NFL owners meetings as of late.

Just a few weeks ago, it was reported by ESPN that Snyder had hired a private investigator to gather information on other team owners. The report claimed that he did so so that he could have a backup plan if and when the other owners tried to vote him out.

On Wednesday morning, a statement was released by the team which said that the Snyders had hired Bank of America Securities to help arrange any future transactions.

Whether that indicates a sale of the entire team or perhaps selling to a minority percentage owner is unknown. In the official statement, the couple said that they remain committed to the Commanders.

They also said that they want to ensure they have the best players on the field for the Washington Commanders and that they have a great workplace environment.