According to a new ESPN report, Josh Harris, the co-owner of the Philadelphia 76ers who recently purchased the Washington Commanders for $6.05 billion, is betting the change of ownership is a ticket to financial salvation for the moribund franchise. Harris, who bought the team from Daniel Snyder, expects significant windfalls, according to a confidential document the Worldwide Leader obtained.
Harris Blitzer Sports & Entertainment and its advisers prepared “a prospectus” on the situation that predicts the removal of Dan Snyder as owner “will boost attendance, ticket sales, and sponsorship revenue, as well as the team’s prospects for a new stadium,” according to the document.
“The Commanders historically ranked top in the league across all local revenue metrics and attendance. However, the team has significantly spiraled as a result of allegations against current ownership,” the prospectus states, according to ESPN. “As ownership changes, we see opportunities to substantially drive local revenue and bring the team back to a top NFL market.”
Perhaps most shockingly, the Commanders think the state of Virginia “will offer the best incentive package—potentially up to $1.5 billion” for a new stadium.
As ESPN notes, that would be nearly double the American-record $750 million in public funds that the state of Nevada put toward the Las Vegas Raiders’ new stadium in 2017.
The NFL world was quick to react to the shocking figure:
Group that paid $6 billion for team needs $1.5 billion in public money? https://t.co/pAIXafx1VE pic.twitter.com/Ff1Y0sDXDC
— City Champion 🏆🏆🏆🏆🏆 (@US_MCFCfan) May 16, 2023
Translation: The owner held the team back https://t.co/peDM1OMm3f
— Blitz🔱 (@thats__steve) May 16, 2023
No better way for a billionaire to ingratiate himself to the fanbase than immediately asking them to pay for his new castle. AK https://t.co/hM6zzizsaw
— Kamenetzky Brothers (@KamBrothers) May 16, 2023
VA giving $1.5B for a stadium? It’s yours! Lol https://t.co/pv7rM5cR8d
— Guylorian (@CWellion) May 16, 2023
[ESPN]
