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The NFL owners unanimously approved the $6.05 billion sale of the Washington Commanders to a group led by billionaire and Maryland native Josh Harris on Thursday (July 20), the league announced in a news release.
“Congratulations to Josh Harris and his impressive group of partners," NFL Commissioner Roger Goodell said. "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.
“I met Josh several years ago, prior to his acquisition of an interest in the Steelers and have been fortunate to get to know him better over the past few months. I know he has a commitment to winning on the field, but also to running an organization that everyone will be proud of -- and to making positive contributions in the community."
The NFL also confirmed that Dan Snyder will pay $60 million to the NFL after an investigation by former U.S. Attorney and SEC Chair Mary Jo White confirmed allegations of misconduct and financial improprieties made by former employees during his tenure as team owner.
Snyder and his wife, Tanya, officially entered an agreement to sell the Washington Commanders to Harris and his contingency for a league-record $6.05 billion on May 12, NFL Network's Ian Rapoport reported at the time.
"The Washington Commanders and a partnership led by Josh Harris have entered into a purchase and sale agreement, it was jointly announced on Friday, May 12th," the news letter states. "The purchase and sale agreement calls for Harris and partners to acquire the Washington Commanders from the Snyder family. The agreement is subject to NFL approval as well as the satisfaction of customary closing conditions."
"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," Tanya and Dan Snyder said in a statement at the time. "We look forward to the prompt completion of this transaction and to rooting for Josh and the team in the coming years."
The Snyders had reportedly "reached an agreement in principle" to sell the franchise to a group led by Harris, which also includes billionaire Mitchell Rales and Basketball Hall of Famer Earvin 'Magic' Johnson, in April. The Snyders announced they hired Bank of America Securities to consider "potential transactions" in relation to the Commanders franchise last November.
"Dan and Tanya Snyder and the Washington Commanders announced today that they have hired BoA Securities to consider potential transactions," the Commanders said in a statement re-shared by CBS Sports NFL Insider Jonathan Jones on November 2.
Harris' reported first order of business "revolves around building a new stadium" and "running the organization in a first-class way," Rapoport reported.
Dan Snyder, 58, a native of Silver Spring, Maryland, purchased the Washington franchise from the late Jack Kent Cooke in 1999 and has been heavily criticized throughout his ownership.