Group led by Josh Harris finalizes deal to buy Commanders - ESPN

A group led by Josh Harris, the co-owner of the NBA's Philadelphia 76ers and NHL's New Jersey Devils, reached an agreement to buy the Washington Commanders from owners Dan and Tanya Snyder, the sides announced Friday.

The group agreed to pay a record $6.05 billion for the team, sources told ESPN. The previous record sale for a sports franchise had been set in August, when a group led by Walmart heir Rob Walton bought the Denver Broncos for $4.65 billion.

The deal reached by Harris' group and the Snyders on Friday is subject to NFL approval. A source said league owners will receive an update on the sale agreement at the May 22-23 league meetings in Minneapolis, with any potential vote occurring in the coming months. Approval by at least three-quarters of the league's owners and other customary closing conditions will be needed for the transaction to go through.

The Snyders had reached a preliminary nonexclusive agreement to sell the franchise to Harris on April 14. At the time, the deal was fully financed but had not yet been signed.

«We are very pleased to have reached an agreement for the sale of the Commanders franchise with Josh Harris, an area native, and his impressive group of partners,» the Snyders said in a statement. «We look forward to the prompt completion of this transaction and to rooting for Josh and the team in the coming years.»

Harris, who grew up in Maryland, co-founded Apollo Management — an asset management firm — in 1990. He has a net worth of $5.8 billion, according to Forbes. Mitchell Rales, who has a net worth of $5.5 billion, David Blitzer, who owns part of Crystal Palace FC of the English Premier League with Harris, and NBA Hall of Famer Magic Johnson are also part of Harris' group. There also