By Lew Gould
After months of speculation, Dan Snyder has agreed to sell the Commanders to Sixers owner Josh Harris, Magic Johnson and billionaire Mitchell Rales.
Harris added Rales, the National Gallery of Art president, to his bid to entice Snyder into selling to him.
The sale marks the end of Snyder’s 24-year tenure as owner of the Washington franchise, which is defined by controversy, scandal, and failure on the football field.
Harris, 58, is reportedly worth $7.25 billion, according to Bloomberg.
Harris was born in Chevy Chase, Maryland, is one of the 350 richest people in the world and has experience in running franchises in other spaces would certainly be a welcomed addition to the D.C. sports landscape.
“Harris also owns stakes in sports and entertainment ventures including the Philadelphia 76ers NBA team and New Jersey Devils NHL team through his firm Harris Blitzer Sports & Entertainment,” Bloomberg writes.
“His stake is calculated at 51% given his role as managing partner in those teams. Their value is based on transaction data for comparable teams and data from Sportico, a valuations service.”
Be the first to comment