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☆ NFL owners approve sale of Commanders, former owner fined $60 mln
▼ + stars: | 2023-07-20 | by ( Frank Pingue | ) www.reuters.com time to read: +4 min

July 20 (Reuters) - National Football League owners have unanimously approved the sale of the Washington Commanders franchise to a group led by the co-owner of the NBA's Philadelphia 76ers and the NHL's New Jersey Devils, the league said on Thursday. Financial terms of the deal to purchase the Commanders from Dan Snyder, who was fined $60 million by the NFL for workplace misconduct after the approval was announced, were not disclosed. Former NBA great Johnson wrote on Twitter that he is both "honored and ecstatic" to be a co-owner of an NFL team. The investigation also concluded that the Commanders withheld about $11 million in revenue, and possibly more, that should have been shared with other NFL teams. In 2021 the NFL fined the Commanders $10 million after an independent counsel review found the workplace demonstrated "a general lack of respect" towards women.

Persons: Dan Snyder, Josh Harris, Mitchell Rales, Magic Johnson, Harris, Johnson, Snyder, Frank Pingue, Deepa Babington Organizations: National Football League, Washington Commanders, Philadelphia 76ers, New Jersey Devils, NFL, Harris Blitzer Sports & Entertainment, Fame, Los Angeles Lakers, 76ers, Devils, Premier League soccer, Crystal, Apollo Global Management, Washington, NBA, Twitter, Congress, Forbes, U.S . House, Thomson Locations: Maryland, U.S, Toronto

New York CNN —Dan and Tanya Snyder agreed to sell the Washington Commanders franchise to a group led by Josh Harris on Friday, according to a statement from from the team and the investment group. The group also includes NBA legend Magic Johnson as well as Mitchell Rales, the billionaire co-founder of conglomerate Danaher. Harris’ ownership groups include Johnson and billionaire Mitch Rales, Harris’ longtime sports business partner. Snyder first purchased the team, which was then known as the Washington Redskins, for a reported $750 million in 1999. The only franchises from other sports worth more than that $5.6 billion estimated value are the New York Yankees and New York Knicks.

☆ Commanders reach agreement to sell franchise to Harris-led group
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: +3 min

Financial terms of the deal, which is subject to league approval, were not disclosed though reports in April said the agreement was for an NFL-record price of $6.05 billion. "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," Commanders co-owners Dan and Tanya Snyder said in a news release. "We look forward to the prompt completion of this transaction and to rooting for Josh and the team in the coming years." "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." In 2021 the NFL fined the Commanders $10 million after an independent counsel review found the workplace demonstrated "a general lack of respect" towards women.

☆ Dan Snyder Agrees to Sell Washington Commanders for $6 Billion
▼ + stars: | 2023-04-13 | by ( Ken Belson | Katherine Rosman | ) www.nytimes.com time to read: +1 min

continues its second investigation into allegations of widespread sexual harassment made against executives at the team, including Snyder, as well as potential financial improprieties. Once the Harris group submits its deal, the sale would have to be approved by the league’s finance committee and by at least three-quarters of the 31 other team owners, which could occur within weeks. Harris’s group includes Mitchell Rales, a billionaire from the Washington, D.C., area, and a group of limited partners that includes Magic Johnson. The owners will next meet in person as a group in Minneapolis on May 22 and 23. Last June, the Walton family, founders of Walmart, bought the Denver Broncos for $4.65 billion, about twice as much as the previous record high for an N.F.L.

☆ Washington Commanders near a deal to sell to 76ers owner for almost $6 billion
▼ + stars: | 2023-04-13 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

The Washington Commanders are nearing a sale to an ownership group led by Philadelphia 76ers and New Jersey Devils Owner Josh Harris at just under $6 billion, a person familiar with the deal told CNBC. Harris' ownership group includes Washington D.C.-based billionaire Mitchell Rales and NBA legend Magic Johnson. Amazon founder and Washington Post owner Jeff Bezos was exploring the sale process, but decided not to make an offer, according to ESPN. For Commanders fans and former employees, progress in the sale process is welcome news. Commanders owner Dan Snyder announced in November of 2022, that he was putting the Commanders up for sale.

☆ Deal close for Washington Commanders football team
▼ + stars: | 2023-04-13 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

If finalized, the sale would mark the end of the controversial ownership of the Washington franchise by embattled billionaire Daniel Snyder. News of the near deal was first reported by Sportico, which reported the team sold for $6 billion, a record for a North American sports franchise. Snyder purchased the team, then named the Washington Redskins for a reported $750 million in 1999. It adopted the Commanders name last year, after playing two seasons with the name Washington Football Team. “Today marks the end of a long, difficult chapter for all employees and fans of the Washington football organization,” read a statement from Lisa Banks and Debra Katz, two attorneys representing more than 40 former Washington Commanders employees.

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