Pair of $6 billion bids reportedly submitted for Commanders, including one involving Magic Johnson
Even though Dallas Cowboys owner Jerry Jones indicated that the Washington Commanders' sale wouldn't be resolved this week at the league's owners meetings, it seems to be gaining traction.
The biggest step is getting a group to part with $6 billion for the team, and that has reportedly happened.
ESPN's Adam Schefter reported that the group led by Josh Harris and Mitchell Rales, which includes NBA great Magic Johnson, submitted a "fully-financed" $6 billion bid.
(Disclosure: Josh Harris is a co-founder and managing partner at Apollo Global Management, which owns Yahoo, Inc.)
The Josh Harris/Mitchell Rales group, which nows includes Magic Johnson, officially has submitted a fully-financed bid that meets Dan Snyder’s $6 billion asking price, per source.
— Adam Schefter (@AdamSchefter) March 28, 2023
Then, a couple hours later, news came that a second $6 billion bid was submitted.
Canadian billionaire Steve Apostolopoulos also has submitted a fully-funded $6 billon offer for the Commanders, sources tell me and @WindhorstESPN.
With two groups known to have submitted bids, there is a growing belief a purchase agreement could be in place by the NFL Draft.— Adam Schefter (@AdamSchefter) March 28, 2023
The price is notable. It would be the record for a sports franchise sale, blowing away the old record. The $4.65 billion sale of the Denver Broncos last year was the record. If the sale is exactly $6 billion, it's about a 30 percent jump from the previous record.
Harris and Rales are billionaires, and the chance to own a franchise that should be among the NFL's most valuable doesn't come along often. After decades of Snyder running the franchise into the ground, practically everyone would welcome a new ownership group, especially one with deep pockets.
There are still hurdles to cross before a sale can be finalized, like the current NFL franchise owners approving the sale. But Washington fans can start to get excited: There's officially a bid in to buy the team and finally be done with the woeful and embarrassing Snyder era.
