Multiple reports surfaced over the weekend that the sale of the Washington Commanders is imminent. Philadelphia 76ers and New Jersey Devils owner Josh Harris has emerged as the frontrunner to purchase the Commanders from Dan and Tanya Snyder. According to Eben Novy-Williams and Scott Soshnick of Sportico, NBA legend Magic Johnson has joined Harris’s group.
The Commanders are valued at $5.6 billion by Forbes. However, the Snyders are reportedly seeking $6 billion in the sale, a potential record for a North American professional sports team. The current record belongs to the NFL’s Denver Broncos. The Broncos were sold for $4.65 billion to the Walton-Penner group in June 2022.
Harris placed a bid for the Broncos at the time. Magic Johnson was part of Harris’s group for the Broncos as well.
For a generation, Johnson was known for his accolades on the court. He won the NCAA national championship at Michigan State in 1979. He went on to have a hall-of-fame career in the NBA, winning five NBA championships and three NBA MVP awards in 13 seasons.
But today, Johnson is known for his accolades as an executive and businessman. His business portfolio includes part ownership with the Los Angeles Dodgers of Major League Baseball, Los Angeles F.C. of Major League Soccer, and the WNBA’s Los Angeles Sparks.
The group led by Harris previously added Washington, D.C. area billionaire Mitchell Rales.
The Snyders have been exploring the option of selling the Commanders since November. Dan Snyder is the subject of multiple investigations surrounding sexual harassment, workplace misconduct, and financial improprieties. The NFL, the United States Congress, and federal authorities have investigated Snyder and the team in the past two years.
According to Pro Football Talk’s Mike Florio, the Snyders have recently cleared the Commanders’ team facility. Other names that have reportedly shown interest include Amazon founder Jeff Bezos and Houston Rockets owner Tilman Fertitta.
The sale of the Commanders could occur as early as next week’s NFL owners’ meetings in Arizona. A potential sale would require approval by at least two-thirds of the league owners.
But as Harris grows his bidding group with Johnson and Rales, all signs point to him as the frontrunner in the sale.
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