1 year ago
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Dan Snyder has co-owned the Commanders with his woman Tanya since 1999Washington Commanders co-owner Dan Snyder has agreed to merchantability the NFL franchise to a radical headed by American capitalist Josh Harris successful a grounds deal.
The woody is reported to beryllium worthy astir $6bn (£4.8bn), making it the world's astir costly sports squad purchase.
According to Forbes, the squad is the joint-eighth astir invaluable successful satellite athletics and was bought by Snyder and his woman Tanya for $750m successful 1999.
Harris' radical includes NBA fable Magic Johnson and billionaire Mitchell Rales.
Harris already co-owns the basketball's Philadelphia 76ers successful the NBA and crystal hockey's New Jersey Devils successful the NHL, arsenic good arsenic being the number proprietor of the NFL's Pittsburgh Steelers and a wide spouse of Premier League shot nine Crystal Palace.
Any merchantability of an NFL franchise needs to beryllium approved by the league's concern committee and ratified by 3 quarters of the league's 32 nine owners, who are scheduled to conscionable successful Minneapolis from 22-24 May.
"We are precise pleased to person reached an statement for the merchantability of the Commanders franchise with Josh Harris and his awesome radical of partners", Tanya and Dan Snyder said successful a statement.
"We look guardant to the punctual completion of this transaction and to rooting for Josh and the squad successful the coming years."
The merchantability of Premier League broadside Chelsea past twelvemonth to American capitalist Todd Boehly and backstage equity steadfast Clearlake Capital was worthy for £4.25bn.
The Snyders hired Bank of America Securities successful November 2022 to see a imaginable merchantability of the franchise.
A boyhood instrumentality of the team, Dan Snyder had vowed ne'er to alteration its erstwhile name, the Redskins, contempt it long being criticised arsenic violative to Native Americans.
The NFL franchise retired its erstwhile sanction successful July 2020 earlier announcing it would beryllium known arsenic the Commanders from February 2022.
During the Snyders' tenure, the squad was besides investigated for having a "toxic workplace culture", and a US study recovered that the squad and the NFL had covered up decades of intersexual misconduct.
A 79-page study said that 58-year-old businessman Dan Snyder "permitted and participated successful the workplace misconduct" and "engaged successful tactics utilized to intimidate, surveil and wage disconnected victims".
English (US)