The proposed sale of the Commanders to a group fronted by Josh Harris took a major step forward on Friday.

According to a joint announcement, Harris’ group has entered into a purchase agreement with Daniel and Tanya Snyder to buy the team. The purchase price is $6.05 billion, which is a new record for an NFL franchise.

“On behalf of our entire ownership group — including Mitch Rales, my longtime sports business partner David Blitzer and Earvin Magic Johnson — I want to express how excited we are to be considered by the NFL to be the next owners of the Washington Commanders and how committed we are to delivering a championship-caliber franchise for this city and its fanbase,” Harris said in a statement Friday. “Growing up in Chevy Chase, I experienced first-hand the excitement around the team, including its three Super Bowl victories and long-term winning culture. We look forward to the formal approval of our ownership by the NFL in the months ahead and to having the honor to serve as responsible and accountable stewards of the Commanders franchise moving forward.”

Two-thirds of NFL owners must approve the deal for it to be finalized. There are league meetings later this month that will likely include conversations about when such a vote will be taken and the NFL said in a statement that league staff and the finance committee will review details of the agreement,

Josh Harris group enters into purchase agreement to buy Commanders originally appeared on Pro Football Talk