The Washington Commanders have a new owner. On Thursday, the NFL‘s owners unanimously approved the sale of the club from Dan Snyder to a group led by Josh Harris. Harris will pay $6.05 billion for the Commanders, setting a new record for a North American sports organization.
Dan Snyder Sells Washington Commanders to Josh Harris
Snyder had owned the team since 1999, when he purchased the franchise from former owner Jack Kent Cooke for $800 million. Harris and Snyder originally entered into a purchase agreement in May, but the league’s owners had to approve the sale.
“Congratulations to Josh Harris and his impressive group of partners. Josh will be a great addition to the NFL. He has a remarkable record in business, sports, and in his communities. The diverse group that Josh has put together is outstanding for its business acumen and strong Washington ties, and we welcome them to the NFL as well,” NFL Commissioner Roger Goodell said in a statement.
“I met Josh several years ago, prior to his acquisition of an interest in the [Pittsburgh] Steelers, and have been fortunate to get to know him better over the past few months. I know he has a commitment to winning on the field, but also to running an organization that everyone will be proud of — and to making positive contributions in the community.”
Harris is also the owner of the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils. Meanwhile, he owns a 15% stake in Crystal Palace F.C. of the Premier League. In 2020, he spent $140 million to acquire a stake of less than 5% of the Steelers. Harris will be required to sell his portion of the Steelers now that he’s been confirmed as the Commanders’ new owner.
Harris’ ownership also includes former NBA legend Magic Johnson, former Google executive Eric Schmidt, Danaher Corporation co-founder Mitchell Rales, and venture capitalist Mark Ein.
“As a lifelong Washington football fan who grew up in Chevy Chase, I’m incredibly excited and humbled by the opportunity to serve alongside my partners as stewards of this great franchise on behalf of the city of Washington, D.C.,” Harris said in a press conference. “One of my first memories as a child was walking down East Capital Street, walking into RFK Stadium, hearing the roar of the crowd, feeling the rumble.
“This franchise is part of who I am and who I’ve become as a person. But being a fan is not enough. To be successful, we understand that we need to win championships, create a positive impact on the community, and create incredible memories and great experiences for our fanbase, much like I had as a youth growing up in Washington.
“We’ll have more to say in the days to come, but today I want to leave it here: To our team and the incredible fanbase in Washington, a new era of Washington football is here. It’s time to get to work.”