Two Record Bids Submitted for Commanders Purchase, per Report

Dan Snyder reportedly has received two massive bids from groups seeking to purchase the Washington franchise.

The Washington Commanders now have two historic bids seeking to acquire the NFL franchise, according to a Tuesday report from ESPN.

The Josh Harris/Mitchell Rales group, which includes former NBA great Magic Johnson, placed a formal bid that reportedly meets the desired $6 billion asking price sought by current Commanders owner Daniel Snyder.

The fully financed $6 billion bid comes on the heels of Canadian billionaire Steve Apostolopoulos also submitting a $6 billion bid, sources told ESPN’s Adam Schefter and Brian Windhorst on Tuesday.

If either offer is approved, the bid would shatter the previous record sale price for a North American sports franchise. The previous benchmark was set back in August 2022, when a group led by Rob Walton purchased the Denver Broncos for $4.65 billion. 

The Josh Harris/Mitchell Rales group, which nows includes Magic Johnson, officially has submitted a fully-financed bid that meets Dan Snyder’s $6 billion asking price, per source.

— Adam Schefter (@AdamSchefter) March 28, 2023

If Snyder accepts either bid, he will then need to submit the offer to the NFL for league approval. He would then need 24 of the league’s 32 owners to approve the sale.

Snyder purchased the franchise in 1999 for $800 million.