Dan Snyder has agreed to sell the Washington Commanders to 76ers owner Josh Harris, but the final piece of Snyder's NFL exit still needs to come through.
Dan Snyder's embarrassing tenure as the owner of the Washington Commanders is just about over.
On Friday, Snyder and Josh Harris announced an agreement on the sale of the Commanders to a group of investors led by the 76ers owner.
The deal is rumored to be for over $6 billion and agreement on the sale is the biggest step towards Snyder getting out of the NFL. However, it's not the final one. The other owners still need to approve Harris and his partners after a financial deep dive.
Statement from Tanya and Dan Snyder on Commanders sale
"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. We look forward to the prompt completion of this transaction and to rooting for Josh and the team in the coming years."
Statement from Josh Harris on Commanders sale
"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 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."
The owners have a meeting scheduled near the end of May. It's expected they will vote on the sale to Harris and company then.
A.J Perez of Front Office Sports reported that "a vote to approve Harris by the NFL owners appears at least somewhat questionable" but that was before a deal was agreed between the current and prospective owner.
If they give the green light, then Snyder will officially be out and Harris will officially be in. We'll know for sure by the end of the month.