The sale of the Washington Commanders to Josh Harris has taken a new turn, and the process has grown more drawn out as the NFL authority appears less interested and more concerned in the deal.
The owner of the Commanders agreed to sell the teams to the owner of the Philadelphia 76ers of the N.B.A. for a record $6 billion. The agreement comes as the NFL conducts its investigation into different allegations, along with Snyder’s inability to construct a new stadium, and multiple claims of sexual harassment made against Snyder and team executives.
In addition, a probe into alleged financial irregularities against the team during the Oversight Committee’s investigation was launched by the U.S. Attorney’s Office in the Eastern District of Virginia in early November. As a result, numerous owners of the other teams in the league were prompted to think about voting to require him to sell the team.
Snyder has owned the Commanders since May 1999, and under his leadership, Washington is 56 games below.500 with a record of 164-220-2 and a 2-6 record in the postseason.
Why is the Josh Harris deal causing the NFL’s authority more worry?
Due to the complexity of the transaction and the unusually high number of limited partners involved, the NFL finance committee expresses worries regarding Harris’ offer for the Commanders. Josh is the primary shareholder in an alliance, consisting of Magic Johnson, Mitchell Rales, a billionaire, and 15 other limited partners.
Despite this, it does not necessarily imply that the deal will not be approved; rather, some reports indicate that the sale is still on the table. Because the NFL has never really had to evaluate this type of bid, it is making the process more difficult and prolonging the wait time.
Some, however, believe it to be a fantastic opportunity for Canadian billionaire Steve Apostolopoulos, one of the known bidders who already put forward a $6 billion offer to buy the NFL franchise from its current owner.
In addition to the 76ers, JH co-founded Harris Blitzer Sports & Entertainment and is the CEO of Apollo Global Management, a company he established in 1990 with two partners Marc Rowan and Leon Black. The 58-year-old is still in charge of the deal even though it appears to be a difficult one for the NFL. We will probably have to wait longer to see who will succeed Snyder as the Washintons’ proprietor.
