As controversial team owner Dan Snyder reportedly moves toward selling the Washington Commander franchise, it looks like a potential buyer has emerged.
According to a report from league insider Adam Schefter of ESPN, the Josh Harris/Mitchell Rales group and Magic Johnson have submitted a bid to buy the team from Snyder.
“The Josh Harris/Mitchell Rales group, which nows includes Magic Johnson, officially has submitted a fully-financed bid that meets Dan Snyder’s $6 billion asking price, per source,” Schefter wrote on Tuesday. “If accepted, this deal would break the previous record sale for a franchise, set last August, when a group led by Walmart heir Rob Walton bought the Denver Broncos for $4.65 billion.”
If accepted, this deal would break the previous record sale for a franchise, set last August, when a group led by Walmart heir Rob Walton bought the Denver Broncos for $4.65 billion. https://t.co/u0aCY9nDfi
— Adam Schefter (@AdamSchefter) March 28, 2023
It’s a pretty massive announcement given all the twists and turns in the Dan Snyder saga over the years, and the NFL world had plenty to say about the update on Twitter.
— Matt Miller (@nfldraftscout) March 28, 2023
Snyder's response pic.twitter.com/UFsw8EPeXn
— Hard Rock Bet (@HardRockBet) March 28, 2023
I can’t wait for Magic’s tweet explaining how he bought a team https://t.co/6zEcWrFUam
— Charlotte Wilder (@TheWilderThings) March 28, 2023
Dan, as the paperwork is being finalized. https://t.co/hVAgXJhbsy pic.twitter.com/el2VCkcPFS
— Jake Louque (@jakelouque) March 28, 2023
When Daniel Snyder bought the Redskins in May 1999 for a US franchise record $800 million, many thought the price was crazy 👇👇 https://t.co/fIeoZAEVPS
— Darren Rovell (@darrenrovell) March 28, 2023
When I reported on this back in January, word was that Harris and Co. were not interested in a bidding war after the Waltons came in over the top on the Broncos bid.
Bezos has been mentioned as the potential boogeyman this time around — guess we’ll see if this brings him out https://t.co/4Db2toNNz3
— Kyle Neubeck (@KyleNeubeck) March 28, 2023
We’ll have to see if Snyder ultimately decides to sell the team. It’s worth noting that previously, Snyder was reportedly seeking nothing less than $7 billion for the team. So if he accepts the $6 billion offer, it would be a full $1 billion less than the initial asking price. However, given that Snyder paid $800 million for the franchise back in 1999, it would still be a massive return on his investment.
We’ll have to see how this all plays out.
