Brian Davis Withdraws Bank of America Lawsuit over Failed $7.1B Commanders Bid | News, Scores, Highlights, Stats, and Rumors
James Holden Brian Davis' lawsuit over his failed attempt to purchase the Washington Commanders has been withdrawn.
Per sports and gambling attorney Daniel Wallach, Davis filed a notice of voluntary dismissal on Wednesday to withdraw his lawsuit against Bank of America.
Daniel Wallach @WALLACHLEGALBREAKING: Brian Davis has withdrawn his lawsuit against Bank of America. The Notice of Voluntary Dismissal was filed 5 days after BofA had expressed doubts in a court proceeding about the genuineness of the $5.1 billion in bank drafts presented for deposit by Davis. <a href="">
Urban Echo Energy, the company owned by Davis, alleged in the lawsuit filed May 19 that Bank of America failed to properly notify Commanders owner Daniel Snyder about its $7.1 billion bid to buy the franchise. The lawsuit claims Snyder would have accepted the bid if it had been presented to him.
Per A.J. Perez of Front Office Sports, Davis' company was seeking $500 billion in damages and alleged in the lawsuit it had already deposited $5.1 billion in two separate transfers for the transaction.
Wallach noted during a recent court proceeding that Bank of America "expressed doubts" about the "genuineness" of the $5.1 billion in bank drafts that were presented for deposit by Urban Echo Energy.
Pro Football Talk's Mike Florio added the move to withdraw was done without prejudice, allowing for the case to potentially be refiled later.
Davis is a former Duke basketball player who was part of the back-to-back national title teams in 1990-91 and 1991-92. He appeared in 68 games with the Minnesota Timberwolves in 1993-94 during his lone season in the NBA.
Snyder entered into a purchase agreement with a group led by Josh Harris to sell the Commanders on May 12. Tom Schad of USA Today reported the sale is for $6.05 billion.
It's unclear when the sale will become finalized. NFL owners must vote to approve the deal, but the number of partners in Harris' group has delayed the process because the league must vet all of them to ensure there isn't potential risk of default.
