Berliner Boersenzeitung - NFL confirms sale of Commanders to Harris group

"NFL clubs today unanimously approved the sale of the Washington Commanders to Josh Harris and his limited partners at a special league meeting in Minneapolis," the NFL said in a statement.

The investment group led by Harris, which also includes NBA legend Magic Johnson, is paying $6.05 billion, a record for a North American sports franchise, ESPN reported.

Snyder had been majority owner of the Commanders since 1999 and his family became sole owners after he bought out his limited partners two years ago.

Harris, co-owner of the NBA's Philadelphia 76ers and NHL's New Jersey Devils and a partner in English Premier League side Crystal Palace, is an asset management firm executive who grew up in suburban Washington.

Harris reached an agreement to purchase the club on May 12, but the vote by owners was delayed as financial details that kept the deal in line with NFL requirements were worked out.

"Congratulations to Josh Harris and his impressive group of partners," NFL commissioner Roger Goodell said in a statement.

"Josh will be a great addition to the NFL. He has a remarkable record in business, sports, and in his communities," he added. "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."

Snyder has been targeted by multiple investigations in recent years, with a US Congressional probe finding that he "permitted and participated in" a troubling toxic workplace culture for decades, with the NFL failing to protect workers from sexual misconduct.

The congressional investigation was launched after the NFL declined to release the full results of an earlier investigation in which attorney Beth Wilkinson found bullying, intimidation, sexual harassment and inappropriate conduct by executives of the team formerly known as the Redskins.

While Snyder and the club were fined $10 million and day-to-day operations turned over to his wife, Tanya Snyder, the league did not make Wilkinson's findings public.

The team was also investigated for unlawful financial conduct, settling lawsuits with the District of Columbia and Maryland over the season ticket deposit funds of supporters.

While Snyder had long resisted calls to sell, the Snyders announced last November that they were exploring options to sell the club he purchased in 1999 for $800 million.

During his tenure the team also floundered on the field. From 1971 to 1992 the club won three of five Super Bowl appearances.

Under Snyder, Washington won the NFC East division four times but was 2-6 in the playoffs. The Commanders haven't won a playoff game since 2005.

(L.Kaufmann--BBZ)