The former Lakers star who owns shares in the Los Angeles Dodgers (MLB) aims to expand his vast investment ground.
By Le Figaro with AFP
Posted
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A group led by billionaire Josh Harris and NBA legend Earvin «Magic» Johnson has submitted a multi-billion dollar bid to buy out the Washington Commanders football franchise, The Washington Post reported on Tuesday.
According to ESPN, the current owner, Dan Snyder would like to obtain six billion dollars in this operation.
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In addition to “Magic” Johnson, who owns shares in the Los Angeles Dodgers (MLB), and Mr. Harris, co-founder of Apollo Global Management, one of the largest asset management companies in the world, which already owns the Philadelphia 76ers ( NBA), co-owner of the New Jersey Devils (NHL) and Crystal Palace (English Premier League club), the group also includes billionaire businessman Mitchell Rales, founder of the Danaher Corporation conglomerate.
Dan Snyder, who acquired the Commanders, when they were still called Redskins, in 1999 for $800 million, has been in turmoil since being accused of instilling a toxic work culture at the club .
The Washington Post reported in July 2020 that 40 former employees had been sexually harassed by Snyder and others at the club. Charges confirmed by an independent investigation, which concluded in July 2021 that bullying and intimidation were also commonplace in the Commanders’ workplace.
Subsequently, the NFL fined $10 million and Dan Snyder, who in the past vowed never to sell the team, had to hand over day-to-day operational control of the team to his wife.
According to the Post and other media, billionaire Canadian promoter Steve Apostolopoulos, founder of the private equity fund Six Ventures, is also a potential buyer and has also made an offer.
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Any sale of a franchise must be approved by 75% of the other 31 NFL clubs.
