Excitement is in the air, especially among Washington fans, as the Commanders’ impending sale is almost final. Synder, arguably NFL’s worst owner, agreed to sell the team to a group led by Josh Harris for a whopping $6bn.
After Dan Synder acquired the Washington Commanders in 1999, many were optimistic about the new ownership and the opportunities it could bring. After all, Washington’s NFL team is one of the most popular and oldest franchises in the NFL. In fact, during that time (1999), the team was very successful, having won three Super Bowls before the change in ownership. However, they have only reached two playoff games since the acquisition.
It is no secret that Dan Synder made terrible football business decisions over the past 24 years, running the team down to the ground. From a hostile relationship with the media and local fans, personal meddling with on-field products, numerous off-field scandalous affairs, and a starved management team, the list is endless when it comes to the things Synder did wrong as the owner of this once-top-ranking NFL team.
A Record $6bn Deal for the Commanders
After Sportico revealed on April 13 that Synder agreed to sell the Commanders for $6bn, the excitement among Washington fans was clear, with many viewing this change as long overdue. The agreement with the Josh Harris Group only occurred after a vote from other NFL owners forced Synder to accept. This sale is the first time in history that an NFL owner gotten forced to sell their team against their will.
Despite his transgressions, which include hiring a private investigator to find dirt on other NFL owners, Synder is seemingly getting rewarded by agreeing to this outstanding deal in principle, as this is a record amount paid for a North American sports team, surpassing the $4.65 billion deal for the Broncos in 2022. However, the sale is likely to drag on till later in May, after a finance team assesses the deal & team papers and the other 31 NFL owners take a vote.
Who Agreed to Buy the Washington Commanders?
The team is getting purchased by a group led by Josh Harris, which consists of NBA legend Magic Johnson, and Mitchell Rales, co-founder of the Danaher Corporation in Maryland, as well as the team’s practice facility in Ashburn, VA, and the FedEx Field located in Landover, Md., to list a few.
Josh Harris is a familiar name in the world of sports. Popularly known for having part ownership in various NBA franchises, including the New Jersey Devils and the Philadelphia 76ers, Harris also has stakes in the Premier League and NHL. According to Bloomberg Billionaires Index, the Wall Street titan has a net worth of approximately $7.72 billion.
Note that there has been no official confirmation of the agreement to date.