Commanders sale: Dan Snyder reaches deal to promote franchise to Josh Harris group for $6 billion – thqaftqlm

Commanders sale: Dan Snyder reaches deal to promote franchise to Josh Harris group for $6 billion

Getty Photos

The Washington Commanders have an settlement in precept in place for Josh Harris and his group to buy the franchise for $6 billion, a supply confirmed to CBS Sports activities. The deal will set an NFL file for the costliest sale in league historical past.

The earlier file of $4.65 billion was set final yr by the Walton-Penner group when it bought the Denver Broncos.

Any sale of the group must be authorized by three-quarters of NFL possession. Homeowners plan to convene in Might for a repeatedly scheduled spring assembly, the place a vote on remaining approval might happen. Harris’ earlier bid for the Denver Broncos means the league is aware of him and his funds, which might assist expedite the approval course of.

Harris owns the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils. His group within the Commanders bid reportedly contains D.C.-area billionaire Mitchell Rales in addition to Basketball Corridor of Famer Magic Johnson.

Canadian billionaire Steve Apostolopoulos has been concerned within the course of, however there have been questions all through about his capacity to fund a bid that may finally be authorized by the league. Houston Rockets proprietor Tilman Fertitta told CNBC he submitted a bid of $5.6 billion however needed to “draw a line within the sand” there as a substitute of on the $6 billion asking value.

Puck Information reported Wednesday that Amazon founder Jeff Bezos was out of the operating to purchase the Commanders. One of many richest folks on the earth, Bezos might have simply outbid every other occasion.

One supply posited in November to CBS Sports activities that Bezos might merely be a boogeyman used to drive the bidding value of the franchise up.

“If I am the league, the longer I can hold him as a stalking horse, the higher,” the supply mentioned then.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top