Free at last! Free at last! Thank God almighty, the DMV is free at last!
Washington Commanders owner Dan Snyder has reached an “agreement in principle” to sell the franchise for a total of $6 billion to a group led by Wall Street tycoon Josh Harris, defense contracting billionaire Mitchell Rales and NBA legend Magic Johnson, according to a report from Sportico.
A $6 billion tally would break the record for the highest price paid for a sports franchise in North America — the current record is $4.65 billion, which the Denver Broncos sold for in 2022.
Leading the way for the group is Harris, who currently owns both the Philadelphia 76ers and the New Jersey Devils. The 58-year-old co-founded the private equity firm Apollo Capital Management and has a net worth of $7.63 billion, according to the Bloomberg Billionaires Index.
EXCLUSIVE: Dan Snyder has reached an agreement in principle to sell the @Commanders for $6 billion to a group led by Philadelphia 76ers co-owner Josh Harris
— Sportico (@Sportico) April 13, 2023
Wow … I can’t believe that this is actually happening (reportedly, of course).
Just a couple days ago, I thought Dan Snyder was holding the Washington Commanders franchise hostage. With all of the reports in the press, it appeared Snyder just wanted to play games and not actually make a move, but to his credit, he’s apparently finally making something happen with this. (RELATED: Dan Snyder ‘Permitted And Participated’ In Toxic Work Culture And The NFL Helped Cover It Up, Report Finds)
And at the same time, freeing the DMV — I am so happy for my homeland.