Embattled Commanders owner agrees to sell team for a record $6 billion

Dan Snyder, the embattled owner of the NFL’s Washington Commanders, has agreed in principle to sell his stake in the franchise for $6 billion, the most ever for a sports franchise. 

A source confirmed to The Associated Press on Thursday that the agreement is in place, while another source told the newswire that an agreement hasn’t been sent to the league for approval yet. 

The sale, first reported by sports business outlet Sportico, would open the doors for a group led by Josh Harris and Mitchell Rales — co-founder of the Danaher Corporation and a Maryland resident — to purchase the 91-year-old NFL franchise off of Snyder. 

Harris, a Maryland native, already has controlling stakes in other sports franchises such as the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils. He purchased stakes in both teams within the last decade. 

The businessman also has a minority stake in the Pittsburgh Steelers, which he would need to sell before acquiring the Commanders, according to the AP. 

Earvin “Magic” Johnson, an NBA Hall of Fame point guard, also joined Harris and Rales’s bid to buy the Commanders. 

Johnson, a five-time NBA champion, also has minority stakes in the MLB’s Los Angeles Dodgers and was a part of Harris’s failed attempt to buy the Denver Broncos, which was purchased by Walmart heir Rob Walton and his group for $4.65 billion last year. 

Twenty-four out of the 31 league owners will have to vote yes to approve the sale of the Commanders franchise. 

A Commanders spokesperson and an NFL spokesperson declined to comment on The Hill’s inquiry. 

The news comes as Snyder, along with his wife, team co-owner Tanya Snyder, announced last November that they hired Bank of America to explore a potential sale of their NFL franchise. 

Multiple suitors have either expressed interest or placed bids to purchase the franchise, including Amazon founder Jeff Bezos, Houston Rockets owner Tilman Fertitta, television mogul Byron Allen, and Canadian billionaire Steve Apostolopoulos. 

A group led by Apostolopoulos was the other group that submitted a fully financed bid for the Washington, D.C., team, according to AP.

The team and organization have suffered through a series of controversies under Snyder’s tenure, including allegations of sexual harassment from former employees. The House Oversight and Accountability Committee conducted an investigation of the team.

The House panel launched its probe after emails between former team president Bruce Allen and former Las Vegas Raiders head coach Jon Gruden leaked to the public. The emails included racist, misogynistic, and homophobic comments.

The NFL, which initially fined Snyder and his team $10 million last year for conducting an “unprofessional workplace,” launched its second investigation earlier this year after former team cheerleader and marketing manager Tiffani Johnston accused Snyder of sexually harassing her at a work-related dinner in 2004.

Since then, other league owners have expressed sentiments about removing Snyder if the allegations against him and his team are true, with Indianapolis Colts owner Jim Irsay being the catalyst of the latest push. 

“Today marks the end of a long, difficult chapter for all employees and fans of the Washington football organization,” Lisa Banks and Debra Katz, who represent more than 40 former Washington Commanders employees, said in a statement to The Hill.

“We are proud of our many clients who made this moment possible – the brave women and men who came forward repeatedly and at great personal risk to expose the decades of sexual harassment and financial wrongdoing at the team,” they wrote.

Banks and Katz said it was “their determination and perseverance [that] force this sale to happen.”

“We want to welcome the new owners and hope a new chapter can truly begin at the organization,” the statement reads. “We expect that the NFL now understands that such an abusive workplace for women is unacceptable.”

“The NFL must be more vigilant and must ensure that owners are held to the same standards as all employers; sexual harassment is illegal and must not be tolerated,” they wrote.

In the 24 seasons Snyder owned the Washington-based NFL franchise, the team has qualified for the postseason six times, only winning two postseason games as well.

The Commanders, formerly known as the Redskins, compiled a 166-226-2 overall record with Snyder as the owner.