Dan Snyder, the owner of the Washington Commanders, has reached an agreement in principle to sell the team for $6 billion to a group led by Philadelphia 76ers co-owner Josh Harris. This sale price is a whopping 700% increase from the $750 million Snyder paid for the team in 1999.
Harris’ group, which includes billionaire Mitchell Rales and former NBA star, is set to take over the team pending approval from the NFL’s ownership group. The sale is expected to close later this year.
The sale of the Washington Commanders comes at a time of transition for the team. In July 2020, the team announced that it would be retiring its controversial former name, the Washington Redskins, and adopting a new name and logo. The team officially became the Washington Commanders in February 2021.
Dan Snyder has been the owner of the team for over two decades and has faced criticism for his management of the team, as well as allegations of a toxic workplace culture. The sale of the team represents a significant change in ownership and leadership for the Washington Commanders.
Josh Harris, the new owner of the Washington Commanders, has a successful track record in sports ownership. In addition to owning the Philadelphia 76ers, he also co-owns the New Jersey Devils and Crystal Palace FC. His experience in managing successful sports franchises could be an asset to the Washington Commanders as they look to rebuild and rebrand the team under new ownership.
The $6 billion sale of the Washington Commanders is one of the largest in NFL history and is a reflection of the significant value that sports franchises hold in today’s market. With new ownership and a fresh start, the Washington Commanders will look to establish themselves as a competitive force in the NFL for years to come.
