Dan and Tanya Snyder are close to reaching a deal to sell the NFL’s Commanders, according to multiple reports.
The group of buyers includes 76ers and Devils co-owner Josh Harris and former NBA superstar Magic Johnson. The reported price tag is approximately $6 billion for the storied franchise, which boasts three Super Bowl championships.
The news was first reported Thursday by Sportico and later corroborated by ESPN. Dan Snyder has been the team’s primary owner since 1999.
Despite the news, the deal isn’t final, according to ESPN and The Washington Post.
A group led by Canadian billionaire Steve Apostolopoulos remains in the mix to purchase the Commanders, according to ESPN, with sources telling the network it’s “a head-to-head race” between the two groups to acquire the Washington franchise.
Even if the Snyders accept the offer from Harris’s group, the proposed sale will require approval by 24 of the 32 NFL owners to become official. The soonest that such a vote could take place is likely May 22, when the league’s owners are scheduled to meet in Minnesota.
If the sale goes through, it will mark the highest price ever paid for a North American sports franchise. The previous high was the $4.6 billion paid by a group headed by Walmart heir Rob Walton for the Broncos in 2022.
Amazon founder Jeff Bezos had been rumored to have interest in purchasing the Commanders, but a report emerged Wednesday that he would not be bidding on the team. However, Bezos reportedly hired a firm to explore the move recently.
Additionally, Rockets owner Tilman Fertitta reportedly recently submitted a bid in the neighborhood of $5.5 billion for the Commanders. The process to sell the team began in December, when the Snyders hired Bank of America to consider bids for the franchise.
The ownership tenure of Dan Snyder has been a turbulent one, with widespread allegations and reports of workplace misconduct over many years culminating in an extensive investigation by the House Committee on Oversight and Reform.
