Washington Commanders to be sold for a record-breaking $6 billion to Josh Harris-led group

Dan Snyder agrees to sell the Commanders

After almost 30 years of owning the Washington Commanders, Dan Snyder has agreed to sell the NFL team to a group led by Josh Harris for a whopping $6 billion. The sale, which is expected to go through league approval in just a few days, will mark the end of Snyder’s controversial tenure as team owner.

Snyder has faced mounting pressure in recent years due to allegations of financial impropriety and a toxic workplace culture that fostered sexism, racism and sexual harassment. The Commanders rebranded from the Redskins to the Washington Football Team to the current Washington Commanders due to racial unrest in 2020.

Josh Harris-led group set to make history with record-breaking acquisition

If the deal is completed, it will be the most expensive sports team sale in US history, eclipsing the $4.6 billion paid for Denver Broncos last year. The new ownership group, which includes billionaire Mitchell Rales and NBA legend Magic Johnson, will become one of the most powerful in American sports.

The deal between Snyder and Harris, who co-owns Philadelphia 76ers and also used to own New Jersey Devils until 2021, was negotiated over several months while there was always speculation of Jeff Bezos making a bid that he never actually submitted.

What’s next for Washington Commanders?

One of the first priorities for the new ownership group will be finding a new stadium for the team. The Commanders are currently playing at FedEx Field in Maryland which is no longer suitable for home games.

Since purchasing the Commanders in 1999 for $800 million, Snyder has overseen a team that has slipped in value over the years due to struggles on and off the field. Heading into this season they are last in the league with just two wins from their first 10 games.

The Commanders will also be waiting for the release of NFL’s investigation into Snyder’s stewardship of the team. The results of this report are expected to be released over the coming weeks or months.

Other notable sports team sales and their controversies

While some sports team sales do not have any controversies around them, others do. The Denver Broncos, Phoenix Suns and Phoenix Mercury, New York Mets, Brooklyn Nets, Carolina Panthers, Houston Rockets, Los Angeles Clippers, and Los Angeles Dodgers were among the most expensive team sales in US history. Some were connected to issues such as racist or sexist behavior or divorce settlements.

Harris’ previous ownership group was majority owners of New Jersey Devils until 2021. He used to be a private equity firm executive at Apollo Global Management which owns Yahoo among other companies before leaving in 2022.

In conclusion, the sale of the Washington Commanders for $6 billion is a major story in American sports that will reverberate for years to come. Harris’ group acquiring the team marks a fresh start for a franchise that has experienced a tumultuous few years under Snyder’s ownership.

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