Background and Experience of Josh Harris in Sports and Investments
The Washington Commanders, a team of the National Football League (NFL), is near a deal to be sold for $6 billion. The group that submitted an official offer is led by businessman Josh Harris, who co-owns the Philadelphia 76ers and the New Jersey Devils. Harris is known for his experience in professional sports and his cofounding of the firm Apollo Global Management in 1990, with a net worth of $5.8 billion.
In 2011, Harris led an investment group that bought the Philadelphia 76ers, and created the holding company Harris Blitzer Sports & Entertainment for shared sports ventures. He also had ownership stakes in several other sports teams such as Chelsea F.C. Crystal Palace F.C., Pittsburgh Steelers, and Denver Broncos.
Harris is typically involved but not making personnel moves with the Sixers. He has hired Daryl Morey as general manager in 2020, a move that was considered successful.
Other Groups Interested in Buying Washington Commanders
Canadian billionaire Steve Apostolopoulos and his family have submitted a bid to buy the Washington Commanders NFL team. This makes it a head-to-head race since Josh Harris has also made an official offer.
Tilman Fertitta, owner of the NBA’s Houston Rockets, also made a bid for $5.6 billion. However, he stated that he would not go higher than that.
An anonymous group has also submitted a bid for the team.
Jeff Bezos initially had some interest in buying the team but changed his mind later on. He may wait for Seattle Seahawks to go up for sale since Jody Allen, sister of the late Paul Allen who owned Seahawks, has been selling off her brother’s assets, making it likely the team will be up for sale soon.
Deal Not Yet Signed, Finance Committee Will Examine Documents
The deal for the Washington Commanders NFL team is not yet signed. Any agreement must be submitted and approved by league owners.
The NFL’s eight-member finance committee will examine the documents before putting it to a vote of the other 31 owners at the league meetings in May in Minneapolis.
Background on Washington Commanders and Obstacles in Selling the Team
The sale of the Washington Commanders NFL team includes the team’s practice facility and FedEx Field in Maryland. The Commanders have been seeking a new stadium in the D.C. area.
Coach Ron Rivera led the team to an 8-8 record last season and is entering his fourth year in charge.
The franchise has been under investigation due to allegations against owner Dan Snyder, which has stalled selling the team for a year. However, Snyder is now close to selling the NFL franchise, and it seems like Josh Harris may be the frontrunner to purchase the Washington Commanders.
Conclusion
In conclusion, businessman Josh Harris may acquire the Washington Commanders NFL team for $6 billion, pending approval of league owners. The deal is not yet signed, but an official offer has been submitted. Other groups have also expressed their interests in buying the team, including Canadian billionaire Steve Apostolopoulos and Tilman Fertitta, owner of the NBA’s Houston Rockets. Jeff Bezos initially had interest but may wait for Seattle Seahawks to go up for sale as Jody Allen sells off her brother’s assets. Despite obstacles regarding previous allegations against owner Dan Snyder, the sale of the Washington Commanders NFL team seems inevitable.
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