NFL Owners Greenlight Sale of Washington Commanders

 

The National Football League (NFL) owners have given their unanimous approval for the sale of the Washington Commanders franchise to a group led by the co-owner of the NBA's Philadelphia 76ers and the NHL's New Jersey Devils. The announcement was made by the league on Thursday.

The financial details of the deal to acquire the Commanders from the long-time owner, Dan Snyder, were not disclosed. However, reports in April suggested that the agreement was reached at a record-breaking price of $6.05 billion, making it the most expensive sale in NFL history.

The group, led by Harris, who is a managing general partner at Harris Blitzer Sports & Entertainment (HBSE), includes Maryland businessman Mitchell Rales and Magic Johnson, the legendary NBA player with five championship titles from his illustrious career with the Los Angeles Lakers.

NFL Commissioner Roger Goodell congratulated Josh Harris and his impressive group of partners in a statement, expressing confidence in Harris's ability to be a valuable addition to the NFL. Goodell praised Harris for his successful track record in business, sports, and community involvement, and he welcomed the diverse group of business-savvy individuals with strong connections to Washington into the NFL.

Harris is currently the managing partner of the 76ers, Devils, and a general partner at the Premier League soccer club Crystal Palace within the HBSE portfolio. Outside of HBSE, he is also the co-founder of asset management firm Apollo Global Management.

The sale of the Washington Commanders franchise comes as a response to increased scrutiny on Dan Snyder's ownership due to investigations by the NFL and Congress into the team's workplace culture and potential financial irregularities.

In 2021, the NFL fined the Commanders $10 million following an independent review that found a general lack of respect towards women in the workplace. Last November, the Commanders announced Snyder's intention to explore the potential sale of the team amid mounting pressure.

A subsequent report by the U.S. House Committee on Oversight and Reform, after a year-long investigation, revealed that Snyder "permitted and participated" in a toxic workplace culture within the team, while the NFL allegedly helped to cover it up. The report exposed instances of sexual harassment, bullying, and other toxic behaviors fostered by a culture of fear under Snyder's leadership.

Despite the NFL's internal investigation revealing Snyder's tactics used to intimidate victims, the league reportedly aligned its legal interests with the Commanders and kept its findings hidden.