The failed offer to buy the NFL's Washington Commanders from Daniel and Tanya Snyder to a company managed by Josh Harris is making news. Former Duke and NBA basketball player Brian Davis claimed to offer $7.1 billion for the team, more than a billion higher than the Harris-led bid of $6.05 billion,
but offered little to support him having that money (and specifically, little to support him having the NFL-required 30% of the price himself). Davis' business, Urban Echo Energy, is suing Bank of America, which managed the sale process, for $500 billion in damages for failing to offer his bid to the Snyders:
Brian Davis's Urban Echo Energy sues Bank of America over Commanders sale. Plaintiff claims BoA neglected to tell Dan Snyder of its $7.1B deal to buy the Commanders. UEO says Snyder would have accepted.
The lawsuit claimed Urban Echo transferred $5.1 billion to Bank of America twice. Two March 8 bank drafts were included in the court proceedings. Davis' attorney Jeffery T. Martin claimed in the complaint that BOA never informed the Snyders of the bank drafts.
Davis claims Bank of America "failed to deposit the bank drafts" from Citibank into his account. Martin wrote that BOA's improper detention of Urban Echo's property caused damages, including the restoration of Plaintiff's $5,100,000,000.00 and additional damages to be shown at trial.
Davis, his company, and his bid finance have been questioned repeatedly. The Urban Echo filing's bank draft photographs, which attorney Daniel Wallach tweeted about, merely added to those:Davis and his firms have been sued multiple times, notably over a failed Memphis Grizzlies deal. He didn't earn this much. The Davis story was weird. This litigation has made it stranger.