WASHINGTON — A group led by Josh Harris has reached an agreement to buy the Washington Commanders from owners Dan and Tanya Snyder.
The NFL owners will meet in Minneapolis for the annual Spring Meeting. The league confirmed the meeting will not feature a vote on the sale of the Washington Commanders to Josh Harris. However, there are plenty of steps that can be made during this week's meetings.
According to a source, the owners are expected to finalize a future date to have a vote on the sale of the Commanders. “There is work that goes into that, and staff is going that now,” said NFL Executive Vice President of Communications, public affairs and policy Jeff Miller. Josh Harris and his partners reached an agreement to buy the Washington Commanders from owners Dan and Tanya Snyder for $6.05 billion.
There are also some issues regarding the Josh Harris deal that need to be work out this week. According to sources, the committee raised some issues about the structure of the Josh Harris deal with Mr. Snyder. The deal is currently well above the NFL’s $1.1 billion debt limit for a franchise purchase.
Although Tanya Snyder has attended the meetings, Dan Snyder has not been present at the previous three meetings. The Snyders still own the team until 24 of the 32 owners vote to approve the Josh Harris sale.
In addition, Josh Harris will not be at the meeting. This is even despite owning a stake in the Pittsburgh Steelers. In 2020, Harris bought a portion of the Steelers for less than 5%, worth approximately $140 million. According to an NFL spokesperson, Harris is selling his share of the Steelers and is in the middle of a new transaction. Limited partners usually don’t go to league meetings.
Despite Dan Snyder selling the team, NFL Commissioner Roger Goodell still plans to release the full report from the Mary Jo White investigation. This is the league’s second investigation that includes Dan Snyder. The current Commanders owner is being investigated for allegations of sexual harassment and financial improprieties.
During the NFL’s annual meeting in Phoenix this past March, Cowboy owner Jerry Jones also agreed that the MJW report should be released. When asked why, Jones said, “Because I know what’s in the report.” According to the NFL and confirmation from Goodell during his end-of-meeting presser, the report hasn’t been completed. There should be some more answers regarding the investigation and why one owner would say he knows what’s in the report.
While on the topic of the Commanders, what’s the latest on the Commanders stadium? According to an ESPN report, Virginia will offer the “best deal” for the new stadium. A confidential document prepared by the Josh Harris group, obtained by ESPN, says the Commonwealth will offer the best incentive package for a new Commanders stadium. The 43-page document was prepared by the Harris group to lure potential investors needed to finance the deal to buy the team, according to ESPN. The document predicts the removal of Snyder as the team's owner will boost the team's prospects for a new stadium, and that Virginia will offer $1.5 billion for the new stadium.