Wednesday September 27, 2023

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
Front Office Sports Today

Taylor Swift Takes NFL to New Heights

Taylor Swift and her rumored relationship have brought in a new, more female-heavy audience.
Listen Now
September 27, 2023 | Podcast
Copy Link
Link Copied
Link Copied

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.

Copy Link
Link Copied
Link Copied

What to Read

Commanders Still Face Legal Fight Over Former Name

Team, owner accused by non-profit of defamatory conduct

NFL Owners' Debt Limit Could Increase To $1.6B

Currently, new NFL owners can use $1 billion of debt.

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.

RFK Stadium Bill Advances in Congress

Congress' vote is the first step towards returning the NFL to D.C.
podcast thumbnail mobile
Front Office Sports Today

Taylor Swift Takes NFL to New Heights (w/ Andrew Brandt)


Featured Today

Taylor Swift at Chiefs vs. Bears game.

Taylor Swift NFL Hype Likely To Continue Another Week

Swift could drive blockbuster TV ratings for NBC's "Sunday Night Football."
September 27, 2023

Lillard And Giannis Pairing Could Be Big For The NBA, Too

Bucks to be featured on national TV 19 times this season
September 27, 2023

Magic Johnson Open To Knicks Minority Ownership Stake

Basketball Hall of Famer only interested in specific NBA franchise
Golden State Warriors majority owner Joe Lacob walks alone the baseline during the third quarter against the Los Angeles Clippers at Chase Center.
September 27, 2023

Warriors Owner Reportedly Adding A Bay Area WNBA Franchise

An official announcement could come as soon as early October.


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations

Panini Picks Up Legal Win, Will Still Make WWE Trading Cards

New York judge denies WWE's bid for restraining order
September 25, 2023

Hollywood Writers' Deal Would Boost Sports Networks and Agencies

Several major sports media entities, talent agencies exposed to strike's effects
September 21, 2023

TKO Makes First Big Move After WWE-UFC Merger

Investors drop TKO shares by 15% following SmackDown rights deal
Deion Sanders
September 19, 2023

Deion Sanders' Sunglass Tiff Nets Eyewear Company Nearly $4.5 Million

Sanders has Midas touch for sunglasses sponsor Blenders.
September 15, 2023

Goldman Sachs Opens Door For Clients To Invest In Sports Teams

Firm initiative opens new opportunities for wealthiest clients
An Everton player displays shirt sponsor, a gambling company, during a match.
September 15, 2023

Everton Acquisition By 777 Partners Extends U.S. Presence in Premier League

American entities now control half of Premier League clubs
September 12, 2023

TKO $21B Merger Closes With Aggressive Ambitions

Newly created company looks to accelerate existing growth trajectory
September 7, 2023

Pinault Completes Landmark $7B Acquisition Of CAA

Major talent agency now in control of French billionaire