The Daniel Snyder era of the Washington Commanders organization has come to a close. On Thursday afternoon, the NFL formally approved Snyder’s sale of the franchise to the Harris group. Initial reports indicate the Josh Harris-led collection of investors acquired the team for approximately $6 billion.
“Congratulations to Josh Harris and his impressive group of partners,” NFL Commissioner Roger Goodell said Thursday.
“Josh will be a great addition to the NFL. He has a remarkable record in business, sports, and in his communities. The diverse group that Josh has put together is outstanding for its business acumen and strong Washington ties and we welcome them to the NFL as well.”
The Harris group includes NBA legend Magic Johnson, billionaire Mitchell Rales and eighteen others. The collection of financial titans will begin the process of rebuilding the franchise after a series of scandals in the workplace and six consecutive seasons under .500.
“This is truly the biggest achievement in my business career and a historic moment for the entire Black community,” Johnson tweeted.
“Talk about God’s perfect timing. This was the right organization for me to be a part of given it’s global appeal, history of winning, and diverse fanbase and DMV community. … I am honored and ecstatic to be a co-owner of the Commanders franchise!”