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NFL Owners Approve $6B Sale of Washington Commanders

sportico staff
·2 min read

NFL owners have approved the $6.05 billion sale of the Washington Commanders, ending the Dan Snyder ownership era and setting a record for the most ever paid for an NFL team.

At league meetings in Minneapolis, the owners voted unanimously to approve a deal that will name private equity investor Josh Harris the new controlling owner of the Commanders. Harris, who also owns the Philadelphia 76ers and New Jersey Devils through sports management company Harris Blitzer Sports & Entertainment (HBSE), heads the incoming ownership group which also includes Potomac billionaire Mitchell Rales and former NBA star Magic Johnson. David Blitzer, who is a Blackstone managing partner and Harris’ longtime business partner, is also in the group.

“Congratulations to Josh Harris and his impressive group of partners. Josh will be a great addition to the NFL. He has a remarkable record in business, sports, and in his communities,” NFL commissioner Roger Goodell said in a statement.

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Sportico broke the news in May that Harris and Snyder had signed a formal purchase agreement. The group’s bid faced some obstacles, ranging from the source of income to the number of limited partners, which slightly delayed the sale process. This week’s approval comes as the Commanders prepare to start training camp on July 21, when rookies are required to report.

The sale brings the Daniel Snyder era to a close. Snyder, who won two playoff games in 24 years as owner, is still facing potential legal battles for an array of allegations, including financial impropriety leading up to the sale. Even though the deal is complete, Snyder’s name will stay in the headlines as the NFL’s investigation, led by attorney Mary Jo White, nears completion. Snyder is also facing multiple lawsuits regarding his and the team’s conduct during his tenure.

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