Thursday December 7, 2023

New Billionaire Emerges in Commanders Sale Mix

  • Industrial firm co-founder and art patron Mitchell Rales joins Josh Harris' quest to acquire Commanders.
  • Harris and Amazon founder Jeff Bezos have been seen as frontrunners for franchise.
Washington Commanders players run onto the field prior to the game at FedexField
Geoff Burke-USA TODAY Sports
Linkedin
Copy Link
Link Copied
Link Copied

Another billionaire has entered the hunt to acquire the Washington Commanders. 

Mitchell Rales, a lifelong resident of the Washington, D.C., area, has teamed with Philadelphia 76ers and New Jersey Devils owner Josh Harris in the latter’s effort to purchase the Commanders, a source with knowledge of the process told Front Office Sports on Thursday. 

FOS previously reported that Harris toured the team’s headquarters earlier this year, and sources said he’s been among the top contenders since owner Dan Snyder announced the potential sale of the franchise in November. 

The Commanders sales process appears to be inching along, as Snyder has been reluctant to sell to Amazon founder Jeff Bezos. The pace of the sale has frustrated some owners around the NFL and renewed talk about the potential removal of Snyder as the team faces multiple investigations. 

Worth an estimated $6.77 billion, Rales co-founded the D.C.-based industrial conglomerate Danaher with older brother Steve in 1994. Mitch Rales, 66, is among the most private billionaires in the region, typically only granting interviews for his art endeavors

Last month, it was reported that Rales donated $1.9 billion to the Glenstone Foundation, the museum and sculpture park founded by Rales and his wife, Emily, in 2006. It’s located in Potomac, Maryland — the same swanky town where the couple live, and where Snyder has a house listed on the market for $49 million. 

The Commanders declined comment when reached by FOS. ESPN was the first outlet to report Rales’ interest in the Commanders. 

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

Waiting Game: MLB Teams on Hold As Shohei Ohtani's Big Decision Looms

Delay in completing record-setting deal creating a freeze across league.

Going Bananas: Barnstorming Baseball Team Proves Too Big For MLB Parks

Team draws more than 2 million entries into 2024 ticket lottery.

Indigenous Lacrosse Team at Olympics? White House Backing Push for Solo Squad

Bid to include Haudenosaunee in upcoming competition garners widespread support.
Shaun White Josh Harris

Josh Harris Doubles Down on Sports as an Asset Class with Latest Investment

Shaun White is partnering with Washington Commanders owners Josh Harris and David Blitzer to purchase an action sports camp.
podcast thumbnail mobile
Front Office Sports Today

Why the NBA May Have Made Billions With Midseason Tournament

0:00
0:00

Featured Today

The College Football Playoff is considering rotating TV networks for the national championship game.

CFP Considers Super Bowl-Like Rotation For National Championship Game

Multiple networks could share rights to the championship game, sources told FOS.
Brett Favre
November 27, 2023

Favre Welfare Case Hold-Up? "AG’s Office Has Not Expressed Interest In Pursuing"

The DOJ interviewed Brett Favre in early 2020.
The future of the Pac-12 rests on a court decision.
November 24, 2023

The Pac-12 Plays Its Final Regular-Season Game. Then A Court Decides Its Fate.

The conference's future rests with a court decision.
Lane Kiffin
November 9, 2023

Ole Miss, Lane Kiffin Lawyers Argue for Dismissal of Player Lawsuit

FOS obtained audio of Lane Kiffin's interaction with the player behind lawsuit.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
FanDuel
Multiple Locations
Adidas
Multiple Locations
Creative Artists Agency
Multiple Locations
A view of a 1914 Baeb Ruth rookie card in a protective casing from the Sportscard Guaranty Company.

Babe Ruth Rookie Card Sets Player Record at $7.2M

It’s the most expensive piece of Babe Ruth memorabilia ever sold.
November 14, 2023

German Soccer Pushing $1.1B Rights Deal To Private Equity Investors

Governing body mounting third attempt for outside investment
PFL Bellator
November 20, 2023

PFL Completes Acquisition of Bellator, Readies to Challenge UFC

“Today, the MMA market changed,” PFL Founder Donn Davis said.
Sponsored

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
CAA logo on side on building
November 13, 2023

CAA Forms Sports-Focused Investment Bank In Continued Expansion Push

Powerhouse agency looks to further expand dealmaking capabilities
Mercedes-AMG Petronas driver George Russell drives on the track during the Formula One Las Vegas Grand Prix Launch Party at Las Vegas Strip.
November 10, 2023

Ticket, Hotel Prices Plummet As Las Vegas GP Nears

Lack of competitive drama for F1 event fuels market crash
November 9, 2023

McMahon Selling $713M In TKO Stock, CEO Emanuel Could Be A Buyer

Bombshell announcement to bring big changes to company's ownership structure
San Diego Padres shortstop Xander Bogaerts wears the ALS Lou Gehrig Day and Motorola patches during a game against the Chicago Cubs at Petco Park.
November 8, 2023

Major U.S. Sports Leagues Pull In Record $6.7B in Ad Revenue

Major U.S. sports leagues and teams saw big increases in ad revenues.