The Washington Commanders are reaching the final stages of undergoing a change in ownership.
After being the head honcho of the organization for 24 seasons, soon-to-be former team owner Dan Snyder is expected to be withdrawing the Commanders to a new ownership group led by Josh Harris, who owns the New Jersey Devils and Philadelphia 76ers.
Snyder made headlines for all the wrong reasons, investigated both internally and federally for serious allegations spawning from an inappropriate workplace environment, forcing the 58-year-old’s hand.
“I would say an expected but significant step today for the Commanders. The Harris group and Dan Snyder have formally submitted his bid for $6.05 billion dollars to purchase the Commanders from Snyder,” NFL Insider Ian Rapport explained Monday. “… If this bid is approved, and I would say that is the expected course of action, then the owner’s would have to vote on it. And if that goes according to plan, which again it should, then he would be the next owner of the Washington Commanders.”
While the offer submitted by Harris, Basketball Hall of Famer Magic Johnson and the rest of the group reaches the review process, others including billionaire Steve Apostolopoulos, who also submitted a bid, could still place offers on the table.
In 1999, Snyder purchased the Commanders for $750 million and under his ownership, Washington won two first-round playoff appearances (1999, 2005) while also missing the postseason on 18 occasions.
League owners could vote on a new Commanders owner as soon as May 22.
