Report: Daniel Snyder reaches agreement to sell Commanders
Sep 9, 2018; Glendale, AZ, USA; Washington Redskins owner Dan Snyder prior to the game against the Arizona Cardinals at University of Phoenix Stadium. Mandatory Credit: Mark J. Rebilas-USA TODAY Sports
The Washington Commanders are on the verge of being sold.
According a report from Sportico, longtime Commanders owner Daniel Snyder has reached an agreement in principle to sell the franchise to a group led by Josh Harris. The accepted bid is for $6 billion, which would be a record sale price for an American sports franchise.
NFL Media’s Ian Rapoport confirmed that the two sides are nearing a deal.
Harris, who also owns the Philadelphia 76ers and New Jersey Devils, is hoping to finalize a deal with Snyder in the coming days.
The $6 billion sale, if completed, will easily surpass the previous record of $4.6 billion, which is what Rob Walton paid when he bought the Denver Broncos last year.
Snyder has reportedly been aiming to complete a sale of the Commanders before the start of the NFL owners meetings on May 22.
Harris’ group, which includes NBA legend Magic Johnson, submitted one of at least three bids for the Commanders. The others came from Houston Rockets owner Tilman Fertitta and Canadian billionaire Steve Apostolopoulos. The latter is also said to have offered $6 billion, but Fertitta submitted a slightly lower bid and said Wednesday that it was his final offer.
At least one other major player who was expected to get involved never submitted a bid.
Snyder purchased the then-Washington Redskins for $750 million in 1999. There have been numerous scandals surrounding the team in recent years.
