After a tumultuous and scandalous tenure as owner of the Washington Commanders, Dan Snyder is finally turning over the reins to someone else. Dan and wife Tanya Snyder announced that they have entered into a purchase and sale agreement with Josh Harris.
The purchase and sale agreement calls for Harris and partners to acquire the Washington Commanders from the Snyder family. The agreement is subject to NFL approval as well as the satisfaction of customary closing conditions.
Ironically, Commissioner Roger Goddell hinted at the NFL Draft that he expected the timing of the Commanders sale announcement to be mid to late May. He was spot on with his assessment.
“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”, Tanya and Dan Snyder said in a statement. “We look forward to the prompt completion of this transaction and to rooting for Josh and the team in the coming years.”
Harris is a native of Washington, D.C. who also owns the New Jersey Devils and Philadelphia 76ers. He is reportedly purchasing the team for $6 billion with an ownership group that includes NBA Champion Magic Johnson, Mitch Rales, and Harris’ longtime sports business partner David Blitzer.
“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,” Harris said in a statement. “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.”
He also made it well known that his intentions are to turn the organization around and bring back a level of respect.
“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.”
Harris’ ownership group also 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.
This is music to the ears of Commanders fans who are looking forward to a new beginning.