Washington Commanders is one step closer to new owners.
On Friday afternoon, the organization and a group of potential buyers, led by Josh Harris, announced a sale agreement. The potential new ownership group is led by Harris, owner and founder of Harris Blitzer Sports & Entertainment (HBSE), which currently owns and operates two other professional sports franchises: New Jersey DevilsAnd Philadelphia 76ers.
Other members of the new potential owner group are Mitch Rales, David Blitzer and Magic Johnson.
Interested parties released joint statement on Friday.
“On behalf of our entire ownership group, including Mitch Rales, my longtime sports business partner David Blitzer and Ervin Magic Johnson, I want to express how excited we are that the NFL considers us the next owners of the Washington Commanders and how committed we are to providing this city with and his fans a championship-level franchise,” Harris said.
“Growing up in Chevy Chase, I’ve experienced first hand the excitement around the team, including its three Super Bowl wins and years of winning culture,” he added. “We look forward to the official approval of our NFL ownership in the coming months and the opportunity to serve as responsible and accountable stewards of the Commanders franchise going forward.”
Current co-owners Dan and Tanya Snyder said the following:
“We are thrilled to have reached an agreement to sell the Commanders franchise with Josh Harris, a local native, and his impressive group of partners. We look forward to completing this transaction as soon as possible and will support Josh and the team in the coming years.”
Dan Snyder bought the franchise in 1999 for $800 million. The reported price of commanders is $6.05 billion, record. This exceeds the previous record of $4.65 billion set by the Rob Walton Group. Denver Broncos a year ago.
The deal must be approved by a vote of the current owners of the league, 24 votes are required for approval. spring league appointment at the end of the month.
According to an update from Jan Rapoport from NFL network owners will receive an update on the potential sale at the May meeting late Friday afternoon. If the sale is not ready for a final vote, the owners will meet later:
Snyder maintained for a long time that he would not sell the team, but ongoing investigations by both the league and Congress into the working environment within the organization led him to sell the franchise. A congressional investigation found that Snyder was responsible for creating a toxic work environment, and many investigations into the work environment of commanders and litigation against season ticket holders led some owners, most notably Jim Irsay, to suggest it. maybe it’s time to take out snyder.
Following this offer by Irsay, it was announced that the Sniders were looking into a possible sale of the Commanders.