An investor group led by Josh Harris and including basketball legend Magic Johnson has reached an agreement to buy the Washington Commanders, a Professional American Football League (NFL) franchise, from Dan Snyder, the two sides announced on Friday.
Harris, co-owner of the Philadelphia 76ers (basketball) and the New Jersey Devils (hockey) and minority shareholder of Crystal Palace (English football), runs an asset management company and grew up in the suburbs of Washington.
His group of investors includes David Blitzer, his longtime business partner, Mitch Rales, a businessman from Maryland, and Magic Johnson, a five-time NBA champion with the Lakers.
No sale price has been announced, but the NFL Network and ESPN reported that the deal, which also includes the team’s stadium and practice facility, was a record $6.05 billion. dollars (5.58 billion euros).
Last August, the Commanders were valued at $5.6 billion (5.16 billion euros) by Forbes magazine, the sixth highest value of the 32 NFL teams, with the Dallas Cowboys leading the way. list with 8 billion dollars (7.37 billion euros).
The previous record selling price for an NFL team was set last August when a group led by Wal-Mart heir Rob Walton took control of the Denver Broncos for $4.65 billion (4, 29 billion euros).
The Commanders takeover must receive final approval from NFL team owners, who are meeting May 22-24 in Minneapolis and could vote on the deal then.
It must be approved by at least 24 of the 32 team owners to be accepted.
“I want to say how happy we are to be considered by the NFL as the next owners of the Washington Commanders and how committed we are to bringing a title-winning franchise to this city and its fans,” said Josh Harris in a statement.
Dan Snyder had owned the club since 1999 but, being investigated by the NFL for allegations of workplace misconduct and illegal financial conduct, he decided to part ways.