The NFL’s informal review of Josh Harris’s tentative $6.05 billion deal to purchase the Washington Commanders found only minor issues that Harris’s group must resolve, a person with direct knowledge of the NFL’s inner workings said Tuesday.
Harris is the owner of the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils. He also is a limited partner in the NFL’s Pittsburgh Steelers and would have to sell that stake to purchase the Commanders. Harris’s investment group includes Potomac, Md., businessman and philanthropist Mitchell Rales and NBA great Magic Johnson.NFL rules require the lead investor of an ownership group to have at least a 30 percent equity stake in the purchase.
Given that Harris’s deal with Snyder is not exclusive, it does not prohibit other bidders from attempting to buy the team. At least one rival bidder, Canadian real estate developer and private equity executive Steve Apostolopoulos, remains active in the bidding, a person with knowledge of the sale process said in recent days.
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