According to a person with knowledge of the situation, the team will be sold to a group led by Josh Harris and Mitchell Rales that includes Magic Johnson
A group led by Josh Harris and Mitchell Rales that includes Magic Johnson has an agreement in principle to buy the NFL’s Washington Commanders from long-time owner Dan Snyder for a North American professional sports team record $6-billion, according to a person with knowledge of the situation.
Once the deal is approved, Harris would owns stakes in teams in three of the four major North American pro sports leagues. He and David Blitzer have owned the NBA’s Philadelphia 76ers since 2011 and the NHL’s New Jersey Devils since 2013.This price for the Commanders shatters what Harris and Blitzer paid for those organizations and tops the previous record of $4.65-billion set when Walmart heir Rob Walton’s group bought the Denver Broncos last year.
Snyder bought his boyhood team in 1999 for $750-million and despite mounting criticism repeatedly said he’d never sell. That changed after multiple investigations by the league and U.S. Congress into Washington’s workplace misconduct and potential improprieties. The congressional investigation found Snyder played a role in a toxic culture.
They inherit coach Ron Rivera, who has run Washington’s football operations for three seasons, none with a winning record, including an NFC East title at 7-9 in 2020 followed by a first-round loss.
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