Dan Snyder appears to be one step closer to heading out the NFL’s exit door.
The league has reportedly received the terms of a proposed $6 billion sale of Snyder’s Washington Commanders to a group headed by Josh Harris, a hedge fund manager who is majority owner of the NBA’s Philadelphia 76ers and co-owner of the NHL’s New Jersey Devils.
If approved, the $6 billion price tag will set an NFL record for the most expensive sale in the league’s history, topping last year’s record-setting $4.65 billion sale of the Denver Broncos to the Walton-Penner group.
The next step is for the NFL to either send the deal back to Snyder and Harris with alterations, or accept it as is, returning it to the parties for final changes and signatures.
Once the league approves the terms, any sale would still have to be approved by three-quarters of NFL owners. A vote for final approval could take place in May at a scheduled spring meeting of all NFL owners.
Harris, 58, is familiar to NFL owners, having also bid to buy the Broncos last year.
His group in the Commanders bid reportedly includes Basketball Hall of Famer Magic Johnson and D.C.-area billionaire Mitchell Rales.
–Field Level Media
