Commanders News: Sale verdict, Dan Snyder, Josh Harris and shock DE target
By Dean Jones
Commanders divided up by Josh Harris’ group
Despite the supposed offer of $7 billion from Brian Davis and his mystery wealth, things are moving forward with the ownership group led by Josh Harris to purchase the Washington Commanders. Something that’s been well-received by fans and can provide instant hope for the future.
Harris’ $6.05 billion offer is legitimate with the funds to back it up. Mike Ozanian of Forbes examined the sale in more detail, outlining how the money would be paid, what the group is borrowing, and how the balance of power will be split once everything gets rubber-stamped by the league.
"“Under the Commanders proposal, which is non-binding at the moment, Harris would own 30% of the NFL team and be the managing partner. There would be 17 limited partners, the biggest of which would be Michael Rales, who would own 12%. NBA legend Magic Johnson would be in for 4%. Assuming the Harris group uses the league’s maximum allowable debt to buy the team—$1.1 billion—Harris would have to put in nearly $1.5 billion of equity.”"
This seems like a pretty solid structure in keeping with how sports franchises are typically bought unless someone has other-world wealth such as Jeff Bezos or Sheikh Mansour – the primary benefactor behind English soccer team Manchester City.
It’s nothing out of the ordinary, which would be a first for a Commanders owner in some time. And having a recognizable figurehead like Magic Johnson around is only going to smooth the transition.