• Loading stock data...
Tuesday, November 5, 2024
The Best Employers in Sports survey is open through Nov. 6 Learn More

NFL Finance Committee Meets as Commanders Sale Progresses

  • Josh Harris’ $6.05B deal to purchase the Commanders has been reviewed by the NFL for weeks.
  • The committee is typically the final stop before a full ownership vote is scheduled.
Kirby Lee-USA TODAY Sports

Typically, the NFL finance committee meeting today is perfunctory.

Each year, the aim is to have all the major items handled ahead of the March owners’ meetings, with only a few issues that haven’t been solved left to mull over in May. But this regularly scheduled meeting before the main meeting in two weeks could clarify the Washington Commanders’ immediate future. 

Front Office Sports previously reported that the NFL had treated the $6.05 billion bid by a group led by Josh Harris as a done deal — even as those close to the Commanders have said the agreement remains tentative. 

If this were a normal sale, Harris’ application would have had to be in around March for the finance committee made up of NFL owners to schedule a vote for the main owners meeting. 

The application — accompanied by a $25,000 check — kicks off the vetting process, which includes the verification of financials and criminal background checks for the potential controlling owner and all the partners of an ownership group. 

An NFL spokesperson declined to comment when asked Tuesday if Harris’ application is in. A Harris spokesperson and one for the Commanders did the same.

But could a full ownership vote be scheduled during today’s meeting? Break out that shrug emoji because those intimately involved have remained mum. 

Multiple sources told FOS that Harris is expected to take over control of the team in early June. That would mean a vote would have to occur in Minnesota at the main owners’ meetings that run May 22-24. 

“Seems like things are moving forward with Harris,” one source with knowledge of negotiations told FOS. 

Three-quarters (24 or more owners) are needed to approve a new owner, and it takes about a week for all the money to be transferred over before the sale becomes official.

While not spelled out in the NFL Constitution and Bylaws, this odd Commanders’ sale could be treated as an incomplete transaction. With the backing of NFL Commissioner Roger Goodell, the preliminary agreement could be vetted as an official application, one source told FOS. 

That would mean Harris and his more than a dozen limited partners have been thoroughly vetted by this point. The fact that The Washington Post reported last month that the NFL asked Harris’ group to revise some “minor issues” in their proposal certainly lends credence to the incomplete transaction approach. 

Exactly why the sale has gone this path isn’t clear. However, the team is still subject to multiple investigations — including one led by former SEC chief Mary Jo White on behalf of the NFL — and now, the attorneys general in California and New York are investigating the NFL, in part for the way the league handled the Commanders toxic workplace allegations. 

Sources said some things are clear: Snyder is selling, Harris is in line to add to his sports empire that already includes co-owners of the Philadelphia 76ers and New Jersey Devils, and a new era isn’t far off for the once-storied franchise near the nation’s capital.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Lululemon-Fanatics Collab With NHL Sees ‘Explosive’ First-Day Sales

The premium collection made up 80% of all NHL merch sales.
Feb 1, 2024; Toronto, Ontario, CANADA; Team King defender Savannah Harmon (15) scores against Team Kloss goaltender Nicole Hensley (29) during the PWHL 3-on-3 Showcase during NHL All-Star Thursday at Scotiabank Arena.

PWHL Will Add Two Teams in Expansion Move

Possible new sites include Detroit, Pittsburgh, and Quebec City.

From Tuck Rule to Team Owner: Tom Brady Secures Stake in Raiders

The seven-time Super Bowl winner is now an NFL team owner.

Atlanta Scores Another Super Bowl: Adds to Growing List of Sports Events

The Georgia capital has a major run of top-tier sports coming in the next few years.
podcast thumbnail mobile
Front Office Sports Today

NFL Teams Face Crossroads at Season’s Halfway Point

0:00

Featured Today

NFL Center Connor McGovern Is the Heir to a Potato Empire

The NFL vet’s family provides potatoes for McDonald’s, Wendy’s, and others.
Vanderbilt Commodores fans head to the south end zone as the goal post is taken down by exuberant fans after beating No. 1 Alabama 40-35 at Vanderbilt Stadium in Nashville, Tenn., Saturday, Oct. 5, 2024.
opinion
November 2, 2024

Something New in College Football This Year: Parity

Upsets, surprises. CFB is more fun on the field than the NFL.
Sep 28, 2024; Tuscaloosa, Alabama, USA; GOP Presidential candidate Donald Trump waves flanked by former Georgia Bulldogs player Herschel Walker, recording art Kid Rock, professional golfer John Daily, Alabama senators Tommy Tuberville (R) and Katie Britt (R) during the second half of the game between the Alabama Crimson Tide and the Georgia Bulldogs at Bryant-Denny Stadium.
November 1, 2024

Mission Swing State: College Football’s Political Advertising Battle

Trump, Harris, and the PACs that support them are utilizing the sport.
October 31, 2024

The Untapped Revenue ‘Powder Keg’ of Women’s NFL Fandom

There’s a “boatload” of money at stake for brands and the league.
Oct 27, 2024; Seattle, Washington, USA; Buffalo Bills quarterback Josh Allen (17) passes against the Seattle Seahawks during the second quarter at Lumen Field.

Buffalo Bills in Talks to Sell Stake to PE Firm Arctos: Report

Arctos already has a slice of Paris Saint-Germain and the PGA Tour, among other assets.
May 24, 2024; Minneapolis, Minnesota, USA; Dallas Mavericks owner Mark Cuban celebrates after defeating the Minnesota Timberwolves in game two of the western conference finals for the 2024 NBA playoffs at Target Center.
October 9, 2024

Why Mark Cuban Sold the Dallas Mavericks When He Did

Cuban sold his majority stake to the Adelson family in December 2023.
Jul 7, 2021; Tampa, Florida, USA; Tampa Bay Lightning owner Jeff Vinik hoists the Stanley Cup after the Lightning defeated the Montreal Canadiens 1-0 in game five to win the 2021 Stanley Cup Final at Amalie Arena.
October 25, 2024

Lightning Sell at $1.8B Valuation, Nearly Double Prior NHL Record

The Lightning unveiled a multistep and multiyear sale process.
Sponsored

World Series Delivers High-Demand Marquee Matchup

The hype around the World Series matchup drove ticket prices to record levels—but the Dodgers’ dominance quickly quieted the fervor.
Young fans look over Michigan State sports equipment on display during the Spring Showcase on Saturday, April 20, 2024, at Spartan Stadium in East Lansing.
October 2, 2024

Private Equity Firms Buy Rival Hockey Brands CCM and Bauer

Both brands have been around for decades and changed ownership in the same week.
September 18, 2024

Rogers Tightens Grip on Canadian Sports With $3.46B MLSE Stake

The Blue Jays owner makes a big move to corner most of the Toronto pro sports market.
Fans watch TV screens during a game viewing party for fans at the FanDuel Sportsbook at Meadowlands Racing & Entertainment in East Rutherford, New Jersey.
September 18, 2024

FanDuel Parent Buys Italian Gambling Company in Bid for Growth

Flutter is making big moves in Italy and Brazil.
September 12, 2024

Team USA’s Uniform Maker Is Shooting for a Long-Term Win

This week’s uniforms are honoring the Armed Forces.