NEWSLETTER
We could be getting pretty close to the finish line on the sale of the Washington Commanders this afternoon.
According to ESPN’s Adam Schefter, the Josh Harris/Mitchell Rales group (which includes Magic Johnson) has officially submitted a fully-financed bid that meets Dan Snyder’s $6 billion asking price.
The belief was that the sale could happen this week with all 32 owners in Phoenix for the annual league meeting. Now, that could become a reality.
When Canadian billionaire Steve Apostolopoulos joined the fray, things began to heat up last week. Previously, it was just the Harris/Rales/Johnson group and Houston Rockets owner Tilman Fertitta in the mix to become the next owners of the Commanders.
Apostolopoulos — who recently had discussions with Michael Jordan about purchasing the Charlotte Hornets before considering the opportunity to buy the Washington Commanders — could have motivated the Harris group to meet Snyder’s hefty asking price.
Forbes has the Commanders valued at $5.6 billion, so upwards of $6 billion is a premium Snyder demanded after being forced out. Dan and Tina Snyder announced their intention to sell the team in November.
Harris’ group includes Magic Johnson — who also owns a part of the Los Angeles Dodgers — and Mitchell Rales, a Washington-based billionaire with a net worth of $5.5 billion. This group attempted to purchase the Denver Broncos last summer before the Walton-Penner group ultimately purchased the franchise for $4.65 billion. Harris also owns the Philadelphia 76ers and New Jersey Devils.
Now we wait and see whether or not Snyder accepts the offer.
UPDATE (March 28 at 1:30 pm)
We’ve got another bidder!
Canadian billionaire Steve Apostolopoulos has also submitted a fully-financed $6 million bid to Daniel Snyder and the Washington Commanders.
ESPN’s Adam Schefter believes that the multiple $6 million bids could lead to a sale agreement before the NFL Draft.
