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.
- Dan Snyder has a deal in place to sell the NFL’s Washington Commanders for the biggest price paid for a North American professional sports team.
Another person told The AP a deal hasn’t been sent to the NFL for approval yet. The league declined to comment. The price for the Commanders 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 favorite 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 Congress into Washington’s workplace misconduct and potential improprieties. The congressional investigation found Snyder played a role in a toxic culture.
Harris and Rales will soon assume control of a once-storied franchise that has fallen far from its 1980s and early ‘90s glory days, when Washington won the Super Bowl three times. With Snyder in charge, the team made the playoffs just six times in 24 seasons, only twice won a postseason game and went 166-226-2 overall.
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