Daniel Snyder’s reign of terror in Washington has officially come to an end.
The Commanders’ buyout of Snyder by Josh Harris has been unanimously approved by NFL team owners after deliberations this week.
Harris, 58, a private equity investor and owner of the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils, bought the football team for a record-setting $6.05 billion, surpassing Rob Walton’s $4.65 billion purchase of the Broncos in June 2022. Went.
Snyder, 58, bought the Commanders and its stadium in Landover, MD, in 1999 for $800 million.
NFL owners called a league meeting on Thursday morning where a vote was taken to ratify the sale.
The eight-owner finance committee met on Thursday afternoon to formally vote and recommend the other owners approve the deal.
In an informal vote during a remote meeting on Monday, the finance committee reportedly voted 7-0 in favor of recommending approval of the deal – with one member not attending the meeting.
Harris, now the official owner of his hometown football team, signed a non-exclusive agreement with Snyder in April, followed by an exclusive agreement in May.
Commanders announced they would consider proposals for the team in November.
With the purchase of Washington, Harris and his partner David Blitzer – Harris Blitzer Sports & Entertainment – would have to sell their shares in the Steelers.
Commander prepares for a much-needed new era with new front office leadership.
Snyder, the now-discredited executive, leaves the league after a 24-year tenure with many controversies.
Despite not winning the Super Bowl or even appearing in the conference championship game, Snyder’s consecutive losing seasons is not the main thing he will be remembered for.
During his tenure, the NFL launched two investigations of commanders, both for sexual harassment and toxic workplace claims.
In 2018, former Washington cheerleaders said they were sexually assaulted and intimidated while working for the franchise, with more than 20 additional female former employees detailing similar experiences over the following years.
The NFL announced in July 2021 that the Commanders would be fined $10 million after the first investigation.
Snyder’s wife, Tanya, was tasked with assuming control of the team’s daily operations.
In a February 2022 Congressional Roundtable, former team cheerleader and marketing manager Tiffany Johnson said that Snyder groped her at a team dinner, put his hand on her thigh and pushed her toward his limo.
Following those reports the NFL launched its second investigation into the team.
Former Raiders head coach Jon Gruden’s October 2021 resignation was wrapped up in an email leak that showed an exchange between him and Washington general manager Bruce Allen from ten years ago, where he told NFLPA executive director DeMaurice Smith Was described using racist slurs.
Emails were discovered during Commander’s toxic workplace investigation, leading Gruden to believe that both Snyder and NFL commissioner Roger Goodell had a hand in the leak and his downfall, for which Gruden sued the league.
Federal investigators in Virginia are now also probing misconduct by Snyder and his former team, linked to a $55 million loan taken without the knowledge of his partners.
Harris has been tasked with re-establishing the culture not only on the field but also off the field.
Harris’s group of investors includes Michelle Rawls, co-founder of Danaher Corporation; Washington area venture capitalist Mark Ein; NBA great Magic Johnson; and Eric Schmidt, former chief executive officer of Google.