Could we finally be nearing an end to Daniel Snyder’s ownership of the Washington Commanders?
In a column from Albert Breer of Sports Illustrated, more details were revealed about the agreement between prospective new owner Josh Harris and Snyder. It’s important to stress that the agreement, in principle, is non-exclusive, so Snyder could change his mind if he receives a higher bid.
However, it appears the NFL is intent on finalizing this deal at the NFL’s spring meeting in Minneapolis, which begins on May 22.
What happens between now and then?
From Breer:
First, the league must complete its examination and background work on the group, a process that will be fast-tracked since the league vetted Harris last year, when he was bidding on the Broncos. Part of that will be doing checks on Harris’s partner, Mitchell Rales—the founder of Danaher, a corporation with an enterprise value of close to a quarter trillion dollars. Rales is widely respected and expected to be approved through the process along with Magic Johnson. They are committed to buying smaller pieces of the team.
While that’s going on, the NFL’s finance committee is scheduled to meet in New York on May 10 as part of a set of committee meetings that week on Park Avenue. That meeting had been on the books before Snyder reached an agreement with Harris, but the expectation is that’s where Harris and his group will give the committee an in-depth presentation on the structure of the deal and show they have the financial resources needed.
There will be no concerns with Rales or Johnson. Breer notes that Rales has the financial wherewithal to lead a group himself but preferred to remain in the background.
Part of the meeting with Harris’ group and the NFL’s finance committee will be about Washington’s plan to build a new stadium.
The most important takeaway from Breer’s intel on Washington’s ownership situation.
Which means by June 1, a new era should be underway in D.C.
It’s getting closer.
