Dan Snyder has agreed to sell the NFL’s Washington Commanders to a group led by Apollo Global Management Inc. co-founder Josh Harris.
In a joint statement, Snyder confirmed that Harris, along with minority owners including billionaire Mitch Rales, Black stone Inc. executive David Blitzer, ex Google CEO Eric Schmidt, and NBA legend Earvin “Magic” Johnson, will own the football team.
The deal is appreciated of $6 billion, Bloomberg previously reported, which would be a record for a US professional sports franchise. The statement did not specify a price.
“We are very pleased to have reached an agreement for the sale of the Commanders franchise with Josh Harris, an area native, and his impressive team of partners,” said Snyder and his wife, Ask the statement.
Other members of the Harris-led ownership group include Lee Ainslie, founder of Maverick Capital, and the billionaire Santo Domingo family, according to the statement.
The consortium is committed to “delivering a championship-caliber franchise for this city and its fanbase,” Harris, 58, said in the statement. He is worth an estimated $7.6 billion, according to the Bloomberg Billionaires Index.
Harris added the Commanders to his portfolio of sports holdings. Through Harris Blitzer Sports & Entertainment, the duo owns stakes in the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils.
Individually, they also own stakes in Crystal Palace FC of the English Premier League and the Pittsburgh Steelers of the NFL. Once the Commanders are done buying, they have to sell the latter.