After 24 tumultuous years, Dan Snyder’s reign as owner of the Commanders ended on Friday.
A group led by Josh Harris and Snyder finalized a sale agreement, according to a joint news release.
While terms of the deal were not disclosed, sources told Front Office Sports Harris’ group agreed to pay $6.05 billion for the franchise — a worldwide record sale price for a sports franchise.
“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”,
Tanya and Dan Snyder said in a statement. “We look forward to the prompt completion of this transaction and to rooting for Josh and the team in the coming years.”
The deal had been tentative for several weeks before all the details were worked out in recent days.
“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.
“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.”
The final agreement comes ahead of the next NFL owners meeting scheduled to begin in Minnesota on May 22.
A league source told FOS that owners would be briefed on the sale, although a vote will unlikely occur at the meetings.
The more likely scenario is that a special meeting will be called this summer, much like how the Denver Broncos’ new ownership was approved last August.
Before Harris takes over the team, at least 24 owners must approve the deal. Sources told FOS that it’s a mere formality,
and the deal will clear the three-fourths threshold — if it doesn’t get unanimous approval.
Harris’ group was already known to include billionaire Rales, Johnson, security firm exec Mark Ein, former Google CEO Eric Schmidt,
the Santo Domingo family who made a fortune in the South American beer industry, and the rental property firm founder Mitchell Morgan.