The NFL’s Washington Commanders are up for sale, and one sports legend has joined an ownership group in hopes of landing a stake in the team.
According to CBS Sports, two groups have submitted formal bids, including Josh Harris, co-owner of the New Jersey Devils and Philadelphia 76ers. The billionaire isn’t standing alone to land the team. He has tapped Mitchell Rales, who is working with former NBA superstar Magic Johnson to seal the deal.
The bid placed by the group meets current owner Dan Snyder’s asking price, which is $6 billion.
Another bid led by Canadian billionaire Steve Apostolopoulos has also been submitted.
NFL Ownership Dreams
As the co-founder of Apollo Global Management, Harris is no stranger to sports ownership.
Per CBS Sports, his company — worth an estimated $7.3 billion — currently owns the aforementioned teams along with the Prudential Center. Additionally, he owns a portion of Crystal Palace, an English soccer club.
It’s worth noting that this is not his first attempt at purchasing an NFL team. He previously partnered with Johnson to score the Denver Broncos.
For their bid on the Commanders, Johnson is reportedly not only offering financial support, but his expertise in ownership as well.
At this time, the former LA Laker owns a minority stake in the Los Angles Dodgers, which he managed to do by using $50 million of his own funds, according to CBS. Ultimately, the team was purchased for a whopping $2 billion and Johnson played a role in the win and served as the face of the organization. He also holds ownership in the WNBA’s Los Angeles Sparks and Los Angeles Football Club.
While there is no word on how much money he’s putting in for the Commanders’ bid, Johnson just may be one step closer to the NFL ownership he’s been working to obtain.
Sources say a deal could be finalized before the NFL Draft, which takes place April 27-29.