NFL owners have unanimously approved the sale of the Washington Commanders from the Snyder family to The Harris Group. Led by Josh Harris, the group includes NBA Hall of Famer Magic Johnson, Maryland billionaire Mitchell Rales, and 18 other partners. The sale is set at a record-breaking sum of $6.05 billion, making it the highest amount ever paid for a North American sports franchise.
The approval comes after a long and tumultuous period for the Commanders, with the Snyder family facing multiple investigations and ultimately deciding to sell the team. Several offers were made to acquire the team, but it was The Harris Group who finalized the deal.
Each partner involved in the acquisition had to undergo extensive vetting for both financial and security reasons. The Harris Group and Snyder initially entered into an exclusive agreement on May 12, but various compliance issues and other matters resulted in a delay before the final vote.
Having owned the majority of the Commanders since 1999, the sale marks the end of an era for Dan Snyder and his family. The team can now embark on a new chapter with new ownership, hoping for an optimistic future in the world of DC sports.
This significant sale has garnered attention and excitement within the sports industry, as it establishes a new record for franchise valuations. With the involvement of prominent figures like Magic Johnson and the substantial investment made by The Harris Group, it showcases the growing financial power and influence within the world of professional sports.
As the Commanders transition into this new ownership, fans and observers are eager to see how this change will impact the team’s performance and, more broadly, the future of the franchise.
In conclusion, the NFL owners’ approval of the $6.05 billion sale of the Washington Commanders to The Harris Group signifies a new chapter for the team and the end of the Snyder family’s ownership. With an array of vetted partners and a record-breaking purchase price, this deal has captivated the sports industry and generated anticipation for the future of the Commanders under new ownership.
