A group led by Josh Harris and Mitchell Rales that includes Magic Johnson has an agreement in principle to buy the NFL's Washington Commanders from...
A group led by Josh Harris and Mitchell Rales that includes Magic Johnson has an agreement in principle to buy the NFL’s Washington Commanders from longtime owner Dan Snyder for a North American professional sports team record $6 billion, according to a person with knowledge of the situation.
The person spoke to The Associated Press on condition of anonymity Thursday because the deal hasn’t been finalized. Another person told the AP a deal hasn’t been sent to the league for approval yet. Harris has owned a piece of the Pittsburgh Steelers, which he needs to sell before getting the Commanders.This price for the Commanders shatters what Harris and Blitzer paid for those organizations and tops the previous record of $4.65 billion set when Walmart heir Rob Walton’s group bought the Denver Broncos last year. Johnson, the basketball Hall of Famer who also owns part of Major League Baseball’s Los Angeles Dodgers, was also part of Harris’ bid for the Broncos.
Snyder bought his boyhood team in 1999 for $750 million and despite mounting criticism repeatedly said he’d never sell. That changed after multiple investigations by the league and U.S. Congress into Washington’s workplace misconduct and potential improprieties. The congressional investigation found Snyder played a role in a toxic culture.
The group led by Apostolopoulos was the only other one to submit a fully financed bid. A spokesperson for Apostolopoulos did not immediately respond to a request for comment. They’ll inherit coach Ron Rivera, who has run Washington’s football operations for three seasons, none with a winning record, including an NFC East title at 7-9 in 2020 followed by a first-round loss.
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