WASHINGTON — It's official: The Washington Commanders are getting new owners.
In April, several reports said Snyder had a deal in principle with a group of billionaires, for a record $6.05 billion. The deal is the highest price paid for a North American professional sports franchise.
The agreement, which is subject to NFL approval and closing conditions, was officially announced in a statement Friday.
"We are very pleased to have reached an agreement for the sale of the Commanders franchise with Josh Harris, an area native, and his impressive group of partners," said Tanya and Dan Snyder in a statement. "We look forward to the prompt completion of this transaction and to rooting for Josh and the team in the coming years."
The group chosen to take over ownership from Snyder includes Philadelphia 76ers owner Josh Harris, Washington-area billionaire Mitchell Rales and NBA great Magic Johnson.
Harris released a statement for the group Friday, saying:
"On behalf of our entire ownership group - including Mitch Rales, my longtime sports business partner David Blitzer and Earvin Magic Johnson - I want to express how excited we are to be considered by the NFL to be the next owners of the Washington Commanders and how committed we are to be delivering a championship-caliber franchise for this city and its fanbase.
Growing up in Chevy Chase, I experienced first-hand the excitement around the team, including its three Super Bowl victories and long-term winning culture. We look forward to the formal approval of our ownership by the NFL in the months ahead and to having the honor to serve as responsible and accountable stewards of the Commanders franchise moving forward.
Thank you to Tanya and Dan Snyder and the staff of the Commanders for their partnership and cooperation throughout the sale process.
In addition to Mitch, David and Magic our extraordinary ownership group includes local business leader Mark Ein, Lee Ainslie, Eric Holoman, Michael Li, owner of Range Group, the Morgan family, owners of Morgan Properties, the Santo Domingo family, Michael Sapir, Co-founder and CEO of ProShares, Eric Schmidt, former Google CEO and Executive Chair and Andy Snyder amongst others. Together these individuals and families have the collective resources and shared commitment to support our vision for the Commanders.
We look forward to running a world-class organization and making significant investments on and off the field to achieve excellence and have a lasting and positive impact on the community."
Amid multiple investigations into workplace conduct and potential financial improprieties, longtime owner Dan Snyder and his wife Tanya began exploring selling part or all of the team in the fall. Any sale would need to be approved by three-quarters of NFL owners.
Snyder's ownership has been a hot-button issue for years since several employees came out about workplace harassment, which prompted a league investigation and a $10 million fine. When no written report of Beth Wilkinson's investigation was produced, the U.S. House Committee on Oversight and Reform launched its own review of the situation, which included a referral to the Federal Trade Commission.
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