Reports indicate that Dan Snyder has closed a deal to sell his NFL franchise the Washington Commanders for $6 billion to Josh Harris and his group of investors. If completed and then approved by three-quarters of all of the NFL franchise owners – there are 32 – the deal would constitute the highest amount ever paid for an NFL franchise.
Dan Snyder bought the Washington Commanders – then known as the Redskins – in 1999 for $800 million. That constitutes a 750% return on investment in addition to what was surely annual rates of return in the high millions.
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Josh Harris already owns the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils. Now all he would need is a Major League Baseball team to complete a grand slam of major American sports franchises. Interestingly, his teams all play in different metropolitan areas.
The controversies surrounding the team and its owner are numerous. For example, the House of Representatives is investigating Dan Snyder and the Washington Commanders over allegations that include various forms of discrimination and paying out hush money to keep it all quiet.
At the end of 2020, it was revealed that Daniel Snyder paid $1.6 million in a settlement over sexual misconduct accusations made against him. The money was paid to a former employee of the team formerly known as the Washington Redskins over allegations that Mr. Snyder committed unwanted sexual acts of some form while riding on a private plane with her in 2009.
Forty women came forward that year saying sexual misconduct has been rampant in Washington’s organization during Snyder’s ownership. Allegations include Larry Michael, a former team broadcaster and executive, requesting outtakes from cheerleader video shoots in 2008 and 2010—allegedly at Snyder’s behest.
Daniel Snyder’s official bio on the Washington Commanders’ website is quite flattering, however, calling him a self-made man and an “entrepreneur at heart, Dan Snyder’s life is marked by an enduring passion for the people, the team and the community he loves.”
