Dan Snyder Agrees In Principle To Sell Commanders To Josh Harris For $6.05B

Update:

Ian Rapoport of NFL Media reports that Dan Snyder and Josh Harris have now reached an agreement a deal to purchase the Commanders for $6.05 billion. 

According to Sportico, Commanders owner Dan Snyder has reached an agreement in principle to sell the team to the group led by 76ers owner Josh Harris. 

CBS Sports’ Jonathan Jones reported earlier today that the winning bid for the Commanders was expected to be announced in the next couple of weeks before the draft. There are still steps to go in the process but things appear headed that way. 

Harris was the frontrunner after also going deep in the process to buy the Broncos last year. He’s already gone through the process and the NFL finance committee is comfortable with him and his background, per Jones. 

Harris’ winning bid is expected to be in the neighborhood of $6 billion. The sale could be voted on and confirmed at the May owners meetings. 

Jones cautions that while sources all expect a sale to go through, Commanders owner Dan Snyder is unpredictable, so nothing is done until it’s done.  

There’s also a report from Adam Schefter citing a source who says Canadian billionaire Steve Apostolopolous is still in the mix. He also submitted a bid in the range of $6 billion. 

Former Amazon CEO Jeff Bezos never made a formal bid but he has had an undeniable presence as this whole process has stretched out. It’s probably not a coincidence that this news comes following a report that Bezos would not be entering a last-minute bid. 

Harris was deep in talks to buy the Denver Broncos last year but withdrew after it became clear he would be outbid by the Walton-Penner group. 

He co-founded a sports management group that owns the New Jersey Devils as well as the Philadelphia 76ers. Harris’ net worth is somewhere in the range of $6 billion.

We’ll have more on the sale of the Commanders as the news is available.