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Commanders owner Snyder close to sale deal - report / Photo: © GETTY IMAGES NORTH AMERICA/AFP
Commanders owner Snyder close to sale deal - report
Washington Commanders owner Dan Snyder is close to a deal to sell the NFL franchise to an investment group led by Josh Harris and including former NBA star Magic Johnson, NFL Network reported on Thursday.
The report said that while the deal is not final and no agreement has been sent to the NFL's offices, the parties are close to a deal valued at just below $6 billion.
Harris owns the NBA's Philadelphia 76ers and NHL's New Jersey Devils and is currently a minority owner of the Pittsburgh Steelers and also has a stake in Premier League club Crystal Palace.
Snyder and his wife Tanya announced in November they were exploring purchase deals for the club.
Snyder has owned the Commanders, formerly the Washington Redskins, since 1999 but his ownership has been heavily criticised and faced several investigations.
A US Congressional report released in December said that Snyder "permitted and participated" in a toxic workplace culture and tried to dissuade witnesses from cooperating with a 14-month investigation launched by the league.
In 2021, the NFL fined the club -- then going by the name of the Washington Football Team -- $10 million and required Snyder to relinquish day-to-day operations for several months.
Sales of NFL franchises need to be approved by the NFL's finance committee and at least 24 of the league's 32 owners. Owners are scheduled to meet in Minneapolis in May for their Spring League Meeting.
The report said that Harris's group includes Maryland businessman and philanthropist Mitchell Rales as well as Johnson.
Johnson has held ownership stakes in baseball's Los Angeles Dodgers and Major League Soccer's Los Angeles Football Club.
B.Johnson--SFF
