It’s the Magic Hour in the DMV — Washington Commanders owner Dan Snyder has reportedly agreed to sell his team to Lakers legend Magic Johnson and Sixers owner Josh Harris … and the final price tag is a whopping $6 billion!!
The two sides reached an agreement on Thursday … with Sportico reporting Harris and Johnson’s group, which also includes billionaire Mitchell Rales, was able to seal the deal.
Snyder — who bought the team in 1999 for $750 million — hired Bank of America to explore a potential sale back in November … which garnered interest from Jeff Bezos and Jay-Z.
Snyder’s tenure as owner of the Commanders was plagued by several controversies, especially over the last few years. In 2020, 15 former employees claimed they were sexually harassed and/or verbally abused in the workplace.
Things were allegedly so bad, Congress stepped in, with several former Commanders staffers testifying on Capitol Hill.
Once the sale is final, it will be the biggest transaction in U.S. sports history — passing the Denver Broncos franchise, which sold to Walmart billionaire Rob Walton for $4.6 billion in 2022.
The sale adds to Magic’s growing collection of professional sports teams in which he has an ownership stake — including the Los Angeles Dodgers, Los Angeles Sparks and LAFC.
Harris — who made his fortune in finance — also owns the Philadelphia 76ers and New Jersey Devils.
If the sale goes through, there will be plenty of Commanders fans thrilled with the new era for the franchise.
We reached out to the NFL regarding the report … which declined to comment.
Comments are closed, but trackbacks and pingbacks are open.