Magic Johnson and Josh Harris group officially place bid on Washington Commanders
A group of investors, including NBA legend Magic Johnson and billionaire Josh Harris, has submitted a bid to buy the NFL's Washington Commanders from owner Daniel Snyder.
New York CNN
CNN reported on Tuesday that a group led by NBA legend Magic Johnson and billionaire Josh Harris has made an official bid to purchase the NFL Washington Commanders team from its embattled owner Daniel Snyder.
Harris, co-founder and owner of Apollo Global Management is also the co-owner of New Jersey Devils in the NHL. CNN confirmed that Johnson had joined the Harris Group last week.
ESPN, the first to report the news, reported that the group led by Harris and Johnson is willing to pay Snyder $6 billion as a bid price. CNN was unable to confirm the $6 billion price immediately.
A spokesperson for Harris refused to comment. Johnson, Los Angeles Lakers Hall of Famer, didn't immediately respond to an inquiry for comment.
The Commanders refused to comment.
A person familiar with this matter confirmed on Tuesday to CNN that Canadian billionaire Steve Apostolopoulos was also interested in possibly buying the Commanders.
Apostolopoulos, the managing partner of Triple Group of Companies in Toronto, is a privately-owned real estate company. ESPN reported that Apostolopoulos had submitted a $6 billion fully-funded offer for the Commands.
Apostolopoulos didn't immediately respond to an inquiry for comment.
Forbes valued the Washington franchise (formerly known as Redskins) at $5.6 billion in August last year. The Commanders were ranked sixth in the NFL, behind the Chicago Bears. Los Angeles Rams. New England Patriots.
Snyder, who was accused of creating a toxic workplace in the NFL franchise, said last year he's considering selling the team. Then, Tanya Snyder, Snyder's wife, and they announced that Bank of America Securities was hired to 'consider potential transactions'.
The Washington Post reported in February that Amazon founder Jeff Bezos had hired an investment company to investigate a potential bid for the Commanders Team.