NFL Network’s Ian Rapoport is reporting that Washington Commanders owner Dan Snyder has agreed to sell the NFL team to the Josh Harris-led group for six billion dollars.
Harris, who owns the Philadelphia 76ers (NBA) and the New Jersey Devils (NHL), is in partnership with billionaire Mitchell Rales and Los Angeles Lakers NBA legend Magic Johnson.
From NFL Now: Josh Harris’ group is nearing a purchase of the #Commanders for just under $6B, sources say. Nothing is done, final, agreed to, or submitted to the league. But Harris appears to be the choice. But a small step closer. pic.twitter.com/D6NHyCjs8z
— Ian Rapoport (@RapSheet) April 13, 2023
As Rapoport indicates, there are a lot more steps in the process including league review, but this is a big hurdle cleared.
Charles Gasparino of FOX Business Network reports that the bid price is $6.05 billion and is fully financed.
He also states that others are interested though it is unclear who those parties would be.
SCOOP: Dan Synder will today submit to @NFL a fully-financed agreed $6.050B bid for the @Commanders by Josh Harris; Deal is not signed and will need league review. Others still interested. Synder is not seeking any indemnification from the NFL. @JeffBezos never bid. Developing
— Charles Gasparino (@CGasparino) April 13, 2023
Snyder, 58, has owned the Commanders since 1999, but in recent years, has been embroiled in numerous scandals both financial and workplace-related.
He purchased the team for $800 million following the death of the previous owner Jack Kent Cooke.
6 Billion Is A Record High Price For Any Sports Franchise
Six billion is a blockbuster price.
The most recent NFL franchise that changed ownership was the Denver Broncos in August 2022 for $4.6 billion.
Jeff Bezos Bowed Out Of Bidding On Commanders Yesterday
News of this agreement comes on the heels of Amazon founder Jeff Bezos bowing out of the bidding process.
Bezos, who was interested enough to hire Allen & Company, a sports banking firm, in February to fact-find and explore the possibility of placing a bid, was reportedly not pursuing a bid as of April 12, 2023.
It is not entirely clear what his reasons were for not bidding; however, other reporting has indicated that he may be interested in purchasing the Seattle Seahawks.
In addition to having ties in the Seattle area, Bezos is aware that the Seahawks are owned by the trust of late owner (and former Microsoft co-founder) Paul Allen who died in 2018.
Forbes values the Seahawks at $4.5 billion.
Conclusion
No one can predict if there will be issues yet to be uncovered as this deal moves toward a resolution.
However, the NFL will not have to deal with the potential conflict associated with a Bezos bid.
Amazon has the streaming rights to Thursday Night Football so that may have created some issues.
Legitimate question, because it seems like it would be, but, how would Jeff Bezos potentially purchasing the commanders while owning Amazon, who has a massive TV deal with the NFL NOT be a conflict of interest? @SportsBizMiss @BizballMaury @SBRadio
— Abe Gordon (@AbeGordon) February 9, 2023
Amazon’s deal with the NFL for TNF is an 11-year deal that kicked off in 2022.
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