Josh Harris has agreed to a $6 billion deal to purchase the NFL’s Washington Commanders. A group led by the Philadelphia 76ers owner, which includes Mitchell Rales and Magic Johnson, has “an agreement in principle” to buy the NFL team from longtime owner Dan Snyder, reported Associated Press.
The deal hasn’t been finalized yet, according to the report.
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Once the deal is approved by the league, Harris would own majority stakes in teams in three of the four major North American pro sports leagues. Harris and David Blitzer have owned the NBA’s Philadelphia 76ers since 2011 and the NHL’s New Jersey Devils since 2013.
Before getting the Commanders, Harris will have to sell his stake in Pittsburgh Steelers.
Other members of Harris’ ownership group include Sixers co-owner David S Blitzer, billionaire entrepreneur Mitchell Rales and NBA legend Magic Johnson. Rales and Johnson were relatively late additions to the group.
Harris is a longtime fan of Washington teams. His parents were season-ticket holders for the Washington Bullets. Commanders franchise adds to Harris’ large portfolio of sports teams.
Harris and Blitzer co-own the company Harris Blitzer Sports and Entertainment, which owns the Sixers, New Jersey Devils, and Crystal Palace Football Club. Harris and Blitzer also own a minority stake in the Pittsburgh Steelers.
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According to Bloomberg Billionaires Index, his current estimated net worth stands at $7.63 billion.
Mitchell Rales is an investor, businessman, and philanthropist based in Potomac, Maryland. He is the co-founder of the Danaher Corporation. He has an estimated net worth of $5.6 billion, according to Forbes. He is also a renowned collector of modern and contemporary art, which is displayed at Glenstone, a private art museum he opened in Potomac that is curated by his wife, art historian Emily Wei Rales.
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Earvin “Magic” Johnson, former NBA legend, is an investor in Harris’ group.
