• Loading stock data...
Saturday, June 22, 2024
exclusive
Deals

Josh Harris ‘Only’ Current Bidder With Chance to Acquire Commanders

  • Harris' bid if nearly $6 billion only offer owner Dan Snyder has received with capital needed for approval.
  • Not many details came out of the potential sale of the Commanders at NFL annual meeting.
Josh Harris
Bill Streicher-USA TODAY Sports

PHOENIX — Josh Harris’ group is the “only” serious contender currently in the mix to purchase the Washington Commanders.

Harris’ bid of nearly $6 billion is the only offer made so far that is backed with the financial resources needed to get through the NFL’s vetting process, a source with knowledge of the process told Front Office Sports. 

“Harris is the only bidder with a chance,” the source said. 

A Harris spokesperson declined to comment.

Earlier Tuesday, FOS reported issues over a $6 billion bid reportedly made by Canadian real estate executive Steve Apostolopoulos. 

The lone remaining x-factor is whether Jeff Bezos will enter the process. There have been no indications that the Amazon founder has made a bid for the Commanders.

Beyond Harris and Apostolopoulos, Houston Rockets owner Tilman Fertitta also showed interest in acquiring the Commanders. 

Harris, who owns the Philadelphia 76ers, and New Jersey Devils, was in pursuit of the Denver Broncos a year ago before Walmart heir Sam Walton won out. Walton paid $4.65 billion for the Broncos, a deal that sailed through with a unanimous vote by NFL owners last August. 

Harris toured the team’s suburban Virginia headquarters before last month’s Super Bowl and bolstered his bidding chances afterward.

Earlier this month, industrial firm co-founder Mitchell Rales and NBA legend Magic Johnson were added to Harris’ group. They have a combined estimated net worth of about $12 billion.  

In November, the Commanders announced they were “exploring all options,” including a full sale of the team Snyder purchased for $800 million in 1999. 

The process, especially in recent weeks, has been clouded in secrecy. 

NFL Commissioner Roger Goodell said after the league’s annual meeting Tuesday that the sale was discussed by owners behind closed doors but didn’t offer any details. 

Goodell said there was an update on the outside NFL investigation led by former SEC chief Mary Jo White. The probe began more than a year ago, looking into a harassment claim against Snyder and allegations of financial irregularities. 

Goodell reiterated that White’s report would be released after her investigation. 

Before Goodell’s news conference that closed out the annual meeting, Dallas Cowboys owner Jerry Jones said he favored making the White report public whether Snyder chooses to sell the team or not. 

“Yes, because I know everything in the report,” Jones said. 

Goodell said, “that would be impossible.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Negotiations Over Native American Imagery Continue to Stall RFK Stadium Bill

The stadium bill remains delayed in the Senate after passing the House. 
Jan 3, 2022; Pittsburgh, Pennsylvania, USA; General view of the NFL shield logo signage before the Pittsburgh Steelers host the Cleveland Browns at Heinz Field.

Odds Stacked Against NFL in Multibillion-Dollar Sunday Ticket Trial

Why the class action trial does not look promising for the league.
Jan 7, 2024; San Francisco, California, USA; Toronto Raptors forward Jontay Porter (11) takes a three-point shot against the Golden State Warriors during the second half at Chase Center.

‘Bound to Happen’: The Age of the Sports Betting Scandal Has Arrived

A banishment, betting scheme, and guilty plea all in one scandal-filled span.

‘Experimental in Nature’: The Rapid, Confounding Rise of Streaming Bundles

Here’s why confusion continues to outweigh solutions in the streaming package boom.
podcast thumbnail mobile
Front Office Sports Today

How Women’s Sports Media is Charting Its Own Path

0:00

Featured Today

The Nostalgia Market: Michael Jordan’s Memorabilia Remains Coveted, With Caveats

Due to scarcity, and sometimes, items’ undisclosed whereabouts, this world has limitations.
Pac-12
June 1, 2024

The Pac-12 Wants Everybody to Know That It Isn’t Dead Yet

With a broadcast studio and two schools, the league plans to rebuild.
Jan 11, 2024; Paris, FRANCE; NBA commissioner Adam Silver speaks before a NBA Game between the Brooklyn Nets and the Cleveland Cavaliers at AccorHotels Arena.
May 26, 2024

Adam Silver Is the Real Winner in the Battle for the NBA’s Rights Future

For the past decade, the commissioner has been playing chess, not checkers.
NCAA headquarters in Indianapolis. Ncaahall 311477 Jpg
May 25, 2024

From Revenue-Sharing to Private Equity: Breaking Down the NCAA’s Historic Week

Commercialization of college sports has never been more evident than this week.

The ‘Big’ in Big 12 Could Soon Be Replaced With a Sponsor’s Name

Allstate is said to be in discussions about a deal with the Big 12.
June 12, 2024

Saudi Arabia’s Next Big Sports Target: Boxing, With Joint Venture Worth $5B

The Public Investment Fund of Saudi Arabia is focusing on boxing as its next large-scale sports target.
June 13, 2024

Everything You Need to Know About the Schism Rocking Competitive Eating

The business story about hot dogs that you never knew you needed.
Sponsored

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
June 11, 2024

Breakthrough? Tiger Says PGA Tour and LIV Golf Are Eyeing ‘End Game’

Woods called a recent meeting ‘productive.’
June 10, 2024

Salt Lake City’s $4B Olympics Price Tag Could Be a Bargain: Here’s Why

Utah is the preferred bidder for the 2034 Games.
June 7, 2024

New Era’s Acquisition of ’47 Set to Reshape Sports Apparel Market

New Era is set to acquire ’47 in a deal creating a combined operation with $2 billion in annual revenue.
June 5, 2024

One Year After ‘Merger,’ the PGA Tour and LIV Golf Still Remain Far Apart

Leaders of the tours struck an agreement exactly one year ago.