NFL owners will meet Thursday in Minneapolis and vote to approve the sale of the Washington Commanders to the group led by Philadelphia 76ers and New Jersey Devils owner Josh Harris.
LISTEN LIVE: WTOP has live coverage of the historic Commanders sale.
NFL owners on Thursday unanimously approved the sale of the Washington Commanders to a group led by Philadelphia 76ers owner Josh Harris, clearing the way for the record deal and putting the finishing touches on Dan Snyder’s reign as franchise owner, according to multiple reports.
At $6 billion, the sale of the Commanders is the largest for an American professional sports franchise.
The vote came after a lengthy closed-door meeting in Minneapolis that lasted nearly three hours, fueling fan anticipation. The meeting started around 2:00 p.m. In order to be approved, at least 24 of the 32 owners had to approve the sale.
“I think there are high expectations for everybody. I think there’s a sigh of relief,” Frank Herzog, the radio voice of the Washington football team, told WTOP. “I think the new owners have a lot to do. Boy, there’s a lot on their list.”
According to multiple reports, former US attorney and SEC chairwoman Mary Jo White, who was hired by the NFL last year to investigate several allegations of labor misconduct and business improprieties, attended the meeting to report NFL owners on the status of their investigation ahead of the vote.
News that the sale was nearing completion circulated earlier this week, when The Washington Post reported that the NFL’s finance committee had voted to unofficially recommend that the league’s owners approve the sale of the team to the Harris Group.
Speculation about the sale of the team reached a fever pitch in April, when it was reported that the Harris Group, which includes Magic Johnson, had reached an agreement with Snyder to buy the team in a $6 billion deal, an NFL record.
At the time, Snyder and his wife Tanya, who is co-owner and co-CEO of the team, said in a statement that they were pleased to have reached an agreement for the sale of the franchise.
“We look forward to the rapid completion of this transaction and the establishment of Josh and the team in the coming years,” the Snyders said.
The Dan Snyder era
Snyder, a Maryland native, bought the team he rooted for as a boy in 1999 for $750 million, vowing never to sell the team despite growing criticism over his years of ownership. He also said the team would never change its name.
“We’re never going to change the name of the team,” Snyder said in 2013. “We’re never going to change the name. It’s that simple. NEVER: You can use capital letters.”
But pressure from sponsors, including FedEx, PepsiCo and Nike, forced Snyder to change the team’s name in 2020. The team’s previous name had been the subject of criticism and protests from Native American advocates and experts who say that the old name is defined as racial. insult
For nearly two years, the team was called the Washington Football Team, until 2022, when it became the Washington Commanders.
The team – and Snyder’s leadership – has been beset by controversy in recent years.
After multiple league and congressional investigations into Washington’s labor misconduct and possible financial improprieties, a congressional report found Snyder played a role in a toxic culture, The Associated Press reported. These allegations included sexual harassment, a “tip sheet” being used to compile an “enemies list” and interference with the investigation, among others.
NFL commissioner Roger Goodell previously said the findings of the Mary Jo White investigation would still be released even when the team is sold. according to The Associated Press. White was tasked with studying various aspects of the organization.
In July 2021, the NFL fined the team $10 million following a misconduct investigation. This was followed by an announcement from the team that Snyder would step down from day-to-day operations for several months. Two weeks later, Snyder and his wife, Tanya, took the first step toward selling the team by hiring Bank of America Securities to explore a possible sale.
Another crack in Snyder’s grip on team ownership emerged last October, when Indiana Colts owner Jim Irsay was the first to suggest there was “merit to remove” Snyder as owner
Who is Josh Harris?
Like Snyder, Harris grew up in Maryland. In addition to Magic Johnson, Harris’ ownership group includes Washington-area billionaire Mitchell Rales and David Blitzer. Harris and Blitzer have owned the NBA’s Philadelphia 76ers since 2011 and the NHL’s New Jersey Devils since 2013.
“They have to restore the integrity of the franchise and they have to solve their real estate problems. And I think the integrity thing will take over the property, especially Mitch Rales… He’s a man of great integrity. Herzog said.
“We look forward to leading a world-class organization and making significant investments on and off the field to achieve excellence and have a positive and lasting impact on the community,” Harris said last May.
One of the new owners’ first challenges will be the development of a new stadium to replace FedEx Field, which was ranked as the league’s worst stadium, located in Landover, Maryland.
The Associated Press contributed to this report.
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