A group led by Josh Harris and another led by Steve Apostolopoulos submitted formal bids to purchase the NFL’s Washington Commanders from Daniel Snyder, according to people with direct knowledge of the sale process. Harris’s bidding group includes Potomac billionaire businessman and philanthropist Mitchell Rales and Basketball Hall of Famer Magic Johnson as investors. The group was known to have been involved in the bidding, and the process has reached the point at which the Harris group has made its bid formal. It was not immediately clear Tuesday whether other prospective buyers have submitted formal bids.
All 32 team owners voted for the sale, which is the highest price paid for a North American professional sports team. After the finance committee approved the agreement with the new ownership group, Harris Blitzer Sports and Entertainment, a special league meeting was called to consider and vote on it before the 2023 season begins.
The sides announced the deal in a joint statement Friday, roughly a month after they reached an agreement in principle on the sale for a record $6.05 billion.
Dan Snyder is nearing a $6 billion sale to a group that includes private equity founder Josh Harris, billionaire titan Mitchell Rales plus NBA legend Magic Johnson, according to multiple reports. The finalization of a sale would mark the end of a beleaguered tenure for Snyder, who purchased the team in 1999, and has presided over a franchise that in aggregate performed poorly on the field and had one scandal after another within the organization.
Five prospective buyers, including Walmart heir Rob Walton, have submitted non-binding bids for the NFL’s Denver Broncos, according to a person familiar with the process.
