As local and federal investigations into the Washington Commanders' alleged financial improprieties and workplace misconduct continue, team owners Daniel and Tanya Snyder moved closer on Thursday to selling the once-proud NFL franchise.
The Snyder family reached a preliminary agreement to sell the Commanders to an ownership group led by Philadelphia 76ers co-owner Josh Harris for approximately $6 billion, multiple outlets reported. If consummated, the deal will be the largest purchase ever of a North American professional sports franchise. News of the tentative sale was first reported by'Sportico.
The deal also has vast sports betting implications. Harris, a co-founder of private equity giant Apollo Global Management, also co-founded Harris Blitzer Sports Entertainment, which owns the NHL's New Jersey Devils, Crystal Palace of the English Premier League, and the Sixers. In October 2011, Fanatics CEO Michael Rubin became a minority owner of the Sixers as part of the ownership group led by Harris and David Blitzer.
Rubin owned a stake in the Sixers and the Devils for more than a decade, until he divested his interest in the two teams last June. The entrepreneur sold the stake ahead of the launch of Fanatics Sportsbook to satisfy league rules that restrict individuals from owning a team while running a gambling operation.