Josh Harris Nearing Agreement To Buy Washington Commanders In $6 Billion Deal

A group led by private equity investor Josh Harris is reportedly closing in on an agreement to purchase the Washington Commanders football team from owner Dan Snyder for $6 billion. Snyder announced that he was selling the team last year after being accused of various forms of misconduct during his tenure.

Harris led one of two serious groups submitting bids to purchase the team in recent weeks, the other being led by Canadian billionaire Steve Apostolopoulos. Amazon CEO Jeff Bezos was long rumored to be interested in the team but did not ultimately pursue the opportunity.

Other members of the Harris group include businessman Mitchell Rales, NBA Hall of Famer Magic Johnson and smaller minority shareholders. Both bids reportedly met Snyder’s asking price.

If Harris acquires the Commanders, he will become the owner of a franchise in three different sports, as he is the current owner of the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils. Together with Rales, who is based nearby in Maryland, and Johnson, who has extensive ownership experience on the West Coast, the Harris-led group could prove to be an effective partnership for the oft-maligned franchise.

Due in part to Snyder’s conduct as owner, the Commanders has been accused of being a toxic organization for years. Known by another name for nearly a century, the team was perpetually at the center of a debate concerning insensitive sports team names in the United States. Snyder stood by the name for years,.

In 2020, Snyder was accused by more than 40 women of engaging in toxic workplace behavior which included participating in and encouraging sexual harassment and discrimination toward female employees. During the investigation of former NFL head coach Jon Gruden, e-mail correspondences were discovered between Gruden and longtime Washington executive Bruce Allen that included racist remarks about figures within the league.

Snyder was later investigated for financial improprieties involving fraudulent ticket revenue reports. Court proceedings for these allegations are still ongoing. Because of the Commanders’ multiple controversies, Snyder agreed to allow his wife, Tanya Snyder, to oversee team operations and an eventual sale in 2021. If the Snyders had failed to sell the team, something the longtime owner has refused to do on several occasions previously, league owners and officials could have arranged a vote to remove him from power.

Article by Patrick Moquin