Dan Snyder agrees to sell NFL's Washington Commanders to Sixers owner Josh Harris

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A general view of fans in front of the Washington Commanders logo during the first half of the game between the Washington Commanders and the Philadelphia Eagles at FedExField on September 25, 2022 in Landover, Maryland.

Scott Taetsch | Getty Images

The NFL's Washington Commanders entered into a deal to be sold to a consortium led by private-equity financier and professional sports team owner Josh Harris, the sides announced Friday.

The deal comes months after team owner Dan Snyder hired investment bankers to explore a sale of the team, CNBC previously reported.

The deal is valued at approximately $6 billion, according to a person familiar with the matter. It is still subject to the NFL's approval.

Snyder wasn't being forced to sell the team despite the pressure that had recently mounted to have him removed as owner. Snyder and the Commanders have been the subjects of recent probes by both the House Oversight Committee and the NFL for sexual harassment and financial misconduct.

In addition to Harris, who is a majority owner of the NBA's Philadelphia Sixers and NHL's New Jersey Devils, is partnering with NBA legend Magic Johnson and Mitch Rales, a longtime business partner.

"I want to express how excited we are to be considered by the NFL to be the next owners of the Washington Commanders and how committed we are to delivering a championship-caliber franchise for this city and its fanbase," Harris said in a statement on Friday.

This is breaking news. Please check back for updates.

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