NFL owners approve sale of Washington Commanders

Financial terms of the deal to purchase the Commanders from longtime owner Dan Snyder were not disclosed though reports in April said the agreement was for an NFL-record price of $6.05 billion. 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, who won five NBA titles during a Hall of Fame career with the Los Angeles Lakers.

National Football League owners have unanimously approved 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 league said on Thursday. Financial terms of the deal to purchase the Commanders from longtime owner Dan Snyder were not disclosed though reports in April said the agreement was for an NFL-record price of $6.05 billion.

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, who won five NBA titles during a Hall of Fame career with the Los Angeles Lakers. "Congratulations to Josh Harris and his impressive group of partners," NFL Commissioner Roger Goodell said in a statement.

"Josh will be a great addition to the NFL. He has a remarkable record in business, sports, and in his communities. The diverse group that Josh has put together is outstanding for its business acumen and strong Washington ties and we welcome them to the NFL as well." In connection with the HBSE portfolio, Harris is managing partner of the 76ers, Devils and a general partner at Premier League soccer club Crystal Palace.

Outside of HBSE, Harris is the co-founder of asset management firm Apollo Global Management. "I met Josh several years ago, prior to his acquisition of an interest in the Steelers and have been fortunate to get to know him better over the past few months," said Goodell.

"I know he has a commitment to winning on the field, but also to running an organization that everyone will be proud of -- and to making positive contributions in the community." WORKPLACE CULTURE

Snyder bought the Washington franchise in 1999 for $800 million and his ownership of the club has come under pressure amid investigations by the NFL and Congress into the team's workplace culture and potential financial improprieties. In 2021 the NFL fined the Commanders $10 million after an independent counsel review found the workplace demonstrated "a general lack of respect" towards women.

The Commanders said last November that Snyder would explore a potential sale of the team, one of the NFL's marquee sides, which was ranked by Forbes in 2022 as the league's sixth-most valuable franchise at $5.6 billion. The following month the U.S. House Committee on Oversight and Reform said in a report after a year-long investigation that Snyder both "permitted and participated" in the team's toxic workplace culture while the NFL helped to cover it up.

The committee's final report said sexual harassment, bullying and other toxic conduct pervaded the team's workplace, perpetuated by a culture of fear instilled by Snyder. The report also stated that despite the NFL's knowledge -- through its internal investigation -- that Snyder engaged in tactics used to intimidate victims, the league aligned its legal interests with the Commanders and buried its findings.

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