May 12, 2023 - Sports

Dan Snyder agrees to sell Washington Commanders to Josh Harris-led group

eam co-owner Dan Snyder speaks during the announcement of the Washington Football Team's name change to the Washington Commanders at FedExField on February 02, 2022 in Landover, Maryland.

Dan Snyder speaks during the announcement of the Washington Football Team's name change at FedExField in February 2022. Photo: Rob Carr/Getty Images

The NFL's Washington Commanders have entered into an agreement to be bought by a group led by Philadelphia 76ers co-owner Josh Harris, both parties announced Friday.

Why it matters: The move brings an official sale one step closer after months of bidding — a sale that would conclude the tumultuous decades-long run of owner Dan Snyder.

Driving the news: The group also includes Washington-area billionaire Mitchell Rales and former NBA star Magic Johnson. The sale is still subject to NFL approval.

  • "Growing up in Chevy Chase, I experienced first-hand the excitement around the team, including its three Super Bowl victories and long-term winning culture," Harris said in a statement on behalf of his ownership group.
  • "We look forward to the formal approval of our ownership by the NFL in the months ahead and to having the honor to serve as responsible and accountable stewards of the Commanders franchise moving forward."
  • Neither party immediately disclosed financial details, but previous reports said the deal was worth $6 billion — the highest price ever paid for a sports team.

What they're saying: Co-owners Tanya and Dan Snyder said they are "very pleased to have reached an agreement for the sale of the Commanders franchise with Josh Harris, an area native, and his impressive group of partners."

  • "We look forward to the prompt completion of this transaction and to rooting for Josh and the team in the coming years."

The big picture: Snyder's tenure has been marred by harassment scandals and a deflated fanbase.

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