Washington Commanders Sale Approved
MINNEAPOLIS -- The Washington Commanders no longer belong to Dan Snyder.
NFL owners voting during a special session Thursday unanimously approved the team's sale from the Snyder family to a group led by Josh Harris.
The Harris group is paying $6.05 billion, a record sum for a North American sports franchise. Snyder had owned the majority of the Commanders since 1999, and his family became the sole owners after he bought out his limited partners two years ago.
Harris' group includes NBA Hall of Famer Magic Johnson and billionaire Mitchell Rales, who, like Harris, is from Maryland. There are 20 limited partners in the Harris group, under the NFL limit of 25. Each partner had to be vetted for financial and security reasons.
Harris said he felt "humbled and awed" to be the new owner.
"I feel an awesome responsibility to the city of Washington," Harris said. "I know what I've got to do. It comes down to winning. It's on me and on our ownership group to deliver. That's what we're going to do."
NFL commissioner Roger Goodell called Harris a "great addition" to the NFL, pointing to his record in business, sports, and his work in communities.
"As someone who grew up in Washington, I know how important that franchise is to that community," Goodell said. "The franchise is in good hands with this group. ... They want to put that franchise where they think it belongs, where it's respected -- not just in the community, but worldwide."
Harris and Snyder entered into an exclusive agreement on May 12, but the NFL's finance committee, according to Indianapolis Colts owner Jim Irsay, wanted Harris to adjust his offer to get in compliance with NFL guidelines. Harris could not carry more than $1.1 billion in debt, and the committee wanted him to have more equity in the purchase. The primary owner must put up 30% of the sum.