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Snyder family, Harris group and Magic Johnson agree on sale of Commanders’ record

A Washington Commanders helmet

A group led by Josh Harris, which includes basketball Hall of Famer Magic Johnson, has agreed to purchase the Washington Commanders from current owner Dan Snyder and his family. The deal is valued at a record $6.05 billion, making it the largest sale of a North American professional sports franchise. The sale is still pending approval from three-quarters of NFL owners and other customary closing conditions.

Snyder has owned the team since 1999, when he purchased it for $750 million. Despite facing mounting criticism over allegations of workplace misconduct and potential financial improprieties, Snyder repeatedly stated that he would not sell the team. However, multiple investigations by the league and Congress found Snyder played a role in a toxic culture, leading to his change of heart.

The new ownership group, which also includes Washington-area billionaire Mitchell Rales and David Blitzer, among others, plans to be “responsible and accountable stewards of the Commanders franchise moving forward,” said Harris. The group’s first major task will be to secure a new stadium to replace FedEx Field, which has been the team’s home since 1997 and has not aged well.

The team’s former home, RFK Stadium in Washington, D.C., is being considered as a potential location for a new stadium, along with sites in Maryland and Virginia. The team’s stadium bill in Virginia was abandoned last year due to off-field controversies, but the new ownership group plans to make significant investments on and off the field to achieve excellence and have a lasting, positive impact on the community.

Harris, who grew up in the Washington suburb of Chevy Chase, Maryland, is excited to work with the team and make a real impact in the community. “Josh Harris has assembled an amazing group who share a commitment to not only doing great things on the field but to making a real impact in the (Washington-area) community,” Johnson tweeted. “I’m so excited to get to work on executing our vision for the Commanders and our loyal fanbase.”

Hall of Fame coach Joe Gibbs, who led the Washington Commanders to their three Super Bowl titles, expressed his support for the new ownership group, saying that with great leadership from the top, the drive to win on the field, and a commitment to culture, championship teams are created.

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