Commanders’ record sale agreed to by Snyder family, Harris group that includes Magic Johnson
ASHBURN, Va. –
A bunch led by Josh Harris that features Magic Johnson has agreed to purchase the NFL’s Washington Commanders from longtime proprietor Dan Snyder and his household.
The sides introduced the deal in a joint assertion Friday, roughly a month after they reached an settlement in precept on the sale for a report US$6.05 billion.
The deal is the very best worth paid for a North American skilled sports activities franchise, surpassing the US$4.55 billion Walmart inheritor Robert Walton paid for the Denver Broncos final yr. It continues to be pending approval of three-quarters of householders and different customary closing circumstances.
“We are very pleased to have reached an agreement for the sale of the Commanders franchise with Josh Harris, an area native, and his impressive group of partners,” Snyder and spouse Tanya stated within the assertion. “We look forward to the prompt completion of this transaction and to rooting for Josh and the team in the coming years.”
Snyder has owned the staff since 1999, when he purchased his favourite boyhood staff for US$750 million, and regardless of mounting criticism repeatedly stated he’d by no means promote. That modified after a number of investigations by the league and Congress into Washington’s office misconduct and potential improprieties. The congressional investigation discovered Snyder performed a job in a poisonous tradition.
Harris’ group consists of Washington-area billionaire Mitchell Rales, the basketball Hall of Famer Johnson and David Blitzer, amongst others. Harris and Blitzer have owned the NBA’s Philadelphia 76ers since 2011 and the NHL’s New Jersey Devils since 2013.
“I could not be more excited to be a partner in the proposed new ownership group for the Washington Commanders,” Johnson tweeted. “Josh Harris has assembled an amazing group who share a commitment to not only doing great things on the field but to making a real impact in the (Washington-area) community. I’m so excited to get to work on executing our vision for the Commanders and our loyal fanbase.”
Harris grew up within the Washington suburb of Chevy Chase, Maryland. He stated he obtained to expertise the thrill of the staff profitable three Super Bowls and establishing a long-term tradition of success.
“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,” Harris stated. “We look forward to running a world-class organization and making significant investments on and off the field to achieve excellence and have a lasting and positive impact on the community.”
