Matt Ishbia, the executive of the mortgage company that tried to buy the Denver Broncos, plans to look into a bid for the Washington Chiefs, he said Friday.
Ishbia is a former Michigan State basketball player who is president and CEO of Michigan-based United Wholesale Holdings. Forbes estimates his fortune at $4.7 billion.
He was one of the bidders for the Broncos before they were. It will be sold in June A group led by Pat Bowlen Trust to Walmart heir Rob Walton for $4.65 billion. NFL owners Officially approved Walton’s purchase in August.
Ishbia was a member of the Michigan State team that reached the final three and won the 2000 national championship. He spent a year as a student assistant coach on Tom Izzo’s Spartans staff.
In the year After graduating from Michigan State’s business school in 2003, Ishbia joined United Wholesale, which was founded by his father when it had a dozen employees. It now has 7,000 employees and is headquartered in Pontiac, Mich.
The company It had a record $107.7 billion in mortgage originations in 2019. It became a publicly traded company in January 2021, merging with Gorus Holdings IV, acquiring the largest listing through a special purpose acquisition company.
According to Forbes, Ishbia owns 71 percent of the company, which is currently called UWM Holdings. Brother Justin Ishbia owns 22 percent of the company and is worth an estimated $2.1 billion, according to Forbes.
The commanders were valued at $5.6 billion by Forbes in August.
Amazon founder Jeff Bezos is interested. on bidding In the group, a person familiar with the situation said Thursday. But it is uncertain whether Bezos’ proposed bid will include music mogul Jay-Z as a potential investor, the person said.
“I don’t know if they’re going to partner on it,” the person said Thursday, adding that each is “interested.”
Bezos owns the Washington Post. He has been mentioned as a potential owner of other NFL franchises, including the Seattle Seahawks. Amazon carries the NFL’s “Thursday Night Football” package.
Media entrepreneur Byron Allen, another Broncos bidder, is preparing a bid for affiliates, a person familiar with the situation said Thursday. If successful, Allen would become the owner of the NFL’s first black major league team. The owners approved a resolution in March in favor of diversity in franchise ownership.
Owner Daniel Snyder has hired an investment bank to “consider potential transactions,” the executives said Wednesday. Related to the franchise. The Chiefs did not say whether Snyder and his wife, Tanya, the team’s CEO, are considering selling the entire franchise or a smaller stake.
“We are exploring all options,” a commanders spokesman said Wednesday.
The group said in a statement Wednesday that Synders has hired Bank of America’s BofA Securities division.
Dallas Cowboys owner Jerry Jones, a longtime close ally of Snyder’s among the owners, said in a radio interview Friday that he believes Snyder is keeping his options open in terms of selling part or all of the team.
“Of course, I’d say all options are on the table,” Jones said. He told 105.3 the fan“And then you see what can happen. And this exercise, I think, is this: ‘Let’s look and see what our options are here, see where the greatest need is, when we get to where they are, and let’s go from there. It’s one thing to sit there at your desk making all your plans and figuring out how they’re going to work out financially. But you in the glass, in this case, you need more. And that’s it. [a] third party. So he is testing the waters,” he said.