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The Washington Commanders will likely have new owners as multiple reports state that longtime owner Daniel Snyder has finally sold the team. There is an “agreement in principle” reached for $6 billion between Snyder and a group including billionaires Josh Harris and Mitchell Rales, and NBA great Magic Johnson.
If the sale of the team does become official, it would be the highest ever paid for an NFL franchise. It would eclipse Walmart heir Rob Walton and his group who bought the Denver Broncos for $4.65 billion last June.
Snyder and Harris are reportedly hoping to carry out a contract within the next couple of days. Per NFL insider Ian Rapoport, the sale is not a done deal and no agreement has been sent to the NFL for approval. Snyder and his wife Tanya have owned the Washington Commanders since 1999.
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Last November, the couple explored a potential sale of the team with Bank of America. Billionaire owner and Amazon founder Jeff Bezos decided not to place a bid for the team despite interest early on.
Any sale of an NFL franchise would need the approval of the league's finance committee and at least three-fourths (24) of the NFL's 32 owners. Owners are scheduled to meet in May in Minnepolis for the Spring League Meeting.
Snyder and the Commanders are still under an internal league investigation related to claims of workplace wrongdoing and potentially illegal fiscal conduct.
In Feb. 2022, the NFL hired former United States Attorney Mary Jo White to lead the investigation. This came after Snyder was accused of sexual misconduct by an ex-team employee during a congressional hearing. Snyder denied the claims. The franchise recently settled lawsuits with the state of Maryland and the District of Columbia over fans' season ticket deposit money.
Washington Commanders under Snyder
The Washington Commanders have a record of 164-220-2 with six playoff appearances in 24 seasons under Snyder. Washington last made the playoffs in the 2020 season, winning their playoff game in the 2005 season.
Top 5 most valuable NFL franchises in 2023
Coming at No. 5 are the Chicago Bears, who are valued at $5.8 billion. The New York Giants take the No. 4 spot at an even $6 billion while the Los Angeles Rams at $6.2 billion is at No. 3.
Taking the No. 2 spot is the New England Patriots at $6.4 billion. Jerry Jones and the Dallas Cowboys at a whopping $8 billion are at No.1.
