76ers owner near $6B deal to buy Washington's NFL team

The Washington Commanders are reportedly close to being sold to an ownership group led by Josh Harris, the owner of the Philadelphia 76ers and New Jersey Devils, for around $6 billion. The deal, which must be approved by the NFL's finance committee and at least three-quarters of other team owners, would represent the highest sale price paid for a North American sports team. Harris' ownership group includes Washington D.C.-based billionaire Mitchell Rales and NBA legend Magic Johnson. Amazon founder Jeff Bezos was exploring the sale process, but decided not to make an offer, while Houston Rockets owner Tilman Fertitta dropped out of the process after making an offer of $5.6 billion.

Irwin Kishner, who represents several pro sports teams, said he was not surprised by the $6 billion sale price due to the wealthy competition in the bidding process. For Commanders fans and former employees, progress in the sale process is welcome news, following allegations of misconduct from inside the Commanders front office. Commanders owner Dan Snyder announced in November 2022 that he was putting the team up for sale. Snyder and his wife purchased the team in 1999 for $800 million.

Kishner said the sale marks the end of a "very long saga," but he believes it is best for the league, the team, and everyone involved. Representatives for the Commanders, the NFL, and Harris declined to comment.


More from Press Rundown