BREAKING: Dan Snyder Agrees to Sell Commanders
The Dan Snyder era is officially over.
According to sources, Snyder has agreed to sell the franchise to New Jersey Devils and Philadelphia 76ers owner Josh Harris and billionaire Mitchell Rales after months of speculation.
Harris' initial interest was reported back in January, and he 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 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."
Harris was born in Chevy Chase, Maryland, which could explain why the Commanders would be an interest to add to his portfolio. As one of the 350 richest people in the world, Harris is certainly capable of purchasing the franchise. And, his experience in running franchises in other spaces would certainly be a welcomed addition to the D.C. sports landscape.
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