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Byron Allen is bidding to become the first Black owner of an NFL team.

The billionaire media mogul and investor is preparing to bid $5.6 billion for the Washington Commanders.

If his bid is accepted, Allen will become the first Black minority owner of an NFL franchise in history.

Allen, 61, is working with a group of investors to put together a successful bid for the team.

Allen previously said he was approached by NFL commissioner Roger Goodell and Patriots owner Robert Kraft about bidding for the Broncos. The team was sold earlier this year to an investment group led by Walmart heir Rob Walton for $4.65 billion.

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Allen is a comedian, television producer, and philanthropist who is best known for hosting Real People, The Byron Allen Show, Entertainers with Byron Allen, and Kickin’ It with Byron Allen.

Comedian Jimmie Walker (“Good Times”) discovered 14-year-old Allen during a stand-up comedy show.

Allen eventually developed a head for business, and in 2018, his Entertainment Studios acquired The Weather Channel from NBCUniversal, Bain Capital and Blackstone Inc.

In 2019, he acquired the regional Fox Sports Networks.

One NFL franchise owner told Sports Illustrated that the Commanders should fetch between $6 billion and $7 billion.

The Commanders’ current owner, Dan Snyder is under investigation by the NFL for workplace misconduct after nearly 2 dozen women made complaints of workplace harassment.

Snyder and his wife, Tanya, recently hired Bank of America to help facilitate the sale of the team. The Snyders purchased the Washington Redskins in 1999. The team changed its name after complaints of racism and cultural misappropriation.