Update: Josh Harris’ group has submitted the only offer with the financial resources needed to be approved by the NFL, but it’s slightly under $6 billion
EXCLUSIVE: Josh Harris’ group is currently the “only” serious contender to purchase the Washington Commanders, a source tells @FOS. Harris' bid of nearly $6 billion is the only offer so far with the financial resources needed to clear NFL's review process. https://t.co/Btqh4B6757— A.J. Perez (@byajperez) March 29, 2023
Ron Rivera just finished speaking with reporters at the NFL owners meetings in Arizona, and now Adam Schefter has dropped a massive scoop on the sale of the Washington Commanders. The Josh Harris/Mitchell Rales/Magic Johnson has submitted a full-financed bid that meets Dan Snyder’s $6 billion minimum asking price for the franchise. The Josh Harris group has been considered the favorite to purchase the team, even as more bidders became known. Amazon founder Jeff Bezos had mixed reports on his interest, and has not officially submitted a bid on the team. Tilman Fertitta reportedly submitted a bid of more than $5.5 billion, but was not one of the potential buyers who toured the facility. Canadian billionaire Steve Apostolopoulos has toured the facilities, but details of his bid haven’t been reported.
Dan Snyder’s minimum asking price has been met, but there are still some holdups in this deal. Schefter reported the bid was submitted, but bidding is still open until Snyder agrees to a deal. There are also issues with Snyder, and his demand to be indemnified by other NFL owners for any future lawsuits, and settlements. This is said to be a hard no from the NFL, and Snyder has denied the request was made. The NFL’s second investigation into Snyder and the team led by Mary Jo White is reportedly coming to a close soon, even with Snyder declining to be interviewed. There are also several other investigations into the team still ongoing, including a federal criminal investigation into financial irregularities that has already issued at least one subpoena.
The NFL owners meetings are wrapping up today, and they won’t have formal meetings again until May 22-24. If Snyder accepts this bid, or any bid, that would likely be when owners officially vote to approve the sale. Josh Harris is already a minority owner in the Pittsburgh Steelers, and he was vetted last year during his pursuit of the Denver Broncos. He would likely get overwhelming support from the 31 other ownership groups. Dan Snyder just has to accept the bid.
The Josh Harris/Mitchell Rales group, which nows includes Magic Johnson, officially has submitted a fully-financed bid that meets Dan Snyder’s $6 billion asking price, per source.— Adam Schefter (@AdamSchefter) March 28, 2023