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.
WASHINGTON (AP) — Magic Johnson has joined Josh Harris’ bid to buy the NFL’s Washington Commanders, according to a person with knowledge of the situation. The person spoke to The Associated […]
Exclusives
Does Jeff Bezos love football more than he loves newspapers? That’s a question getting tossed around the nation’s capital as its NFL franchise hits the block. Chatter is growing that Amazon’s billionaire founder is looking to clear the way for a purchase of the Washington Commanders by selling the Washington Post — with speculation boosted last month by leaked video of publisher Fred Ryan disclosing layoff plans at an unruly town hall meeting. The problem for Bezos reportedly is that the Commanders’ embattled owner, Dan Snyder, is still sore over the storied newspaper’s series of exposes alleging a toxic management culture at the team, where bosses, including Snyder, allegedly enabled sex harassment.
Boston Red Sox owner John Henry is seen as a possible bidder for the Washington Commanders as the investing tycoon moves to sell his UK-based soccer team Liverpool, according to two sources with knowledge of the situation. Henry’s Fenway Sports Group has hired Goldman Sachs and Morgan Stanley to unload Liverpool in a deal that’s expected to fetch between $4 billion and $5 billion, the sources say.
A day after the Washington Commanders announced that owners Daniel and Tanya Snyder are considering selling the team, speculation about a potential buyer was widespread, and at least one prominent name was confirmed as having interest: Amazon founder Jeff Bezos.
Media entrepreneur Byron Allen is preparing a bid for the Washington Commanders in what would be his second attempt this year to acquire a National Football League franchise, according to people familiar with the matter. Allen is working with an investor group, according to people familiar with his ambitions who asked not to be identified because the discussions are private. If Allen succeeds buying the Commanders, he would be the first Black majority owner of an NFL team.
The team announced the surprising decision Wednesday to enlist Bank of America Securities’ services. Asked if Dan and Tanya Snyder were considering selling part or all of the team, a spokesperson said, “We are exploring all options.”
Sentiments among NFL team owners regarding Daniel Snyder’s ownership of the Washington Commanders have shifted significantly, as they await the findings of both a congressional investigation and a league-commissioned probe into allegations of misconduct by him and his team. Multiple owners said in recent days that they believe serious consideration may be given to attempting to oust Snyder from the league’s ownership ranks, either by convincing him to sell his franchise or by voting to remove him.
Fellow NFL owners are weighing options as they grow weary of Snyder’s regime as owner of the Washington Commanders. One NFL owner said that the group is “counting votes” as to potentially removing Snyder. There are 32 NFL franchises and it would take 24 votes to get rid of him.
