Dan Snyder Expected To Sell Washington Commanders to The Harris Group; Magic Johnson, Josh Harris For $6B

The D.C.-based NFL team, the Washington Commanders, is up for sale. Or so it seems. Reports say Dan Snyder is set to sell the team for $6.05 billion to the Harris Group.

The Harris group includes Magic Johnson and is led by Josh Harris, who is also the principal owner of the NBA team, the Philadelphia 76ers, and the NHL team New Jersey Devils.

According to NFL Network Insider Ian Rapport, the deal is “expected” following the approval by the NFL’s finance committee and at least three-quarters of the NFL’s owners, a requirement of the league.

The NFL’s franchise owners are scheduled to meet in May for the league’s annual spring meeting, PEOPLE reported.

Dan and Tanya Snyder purchased the Commanders in 1999 and reportedly have been open to the idea of selling the franchise or bringing on additional owners since November.

The Harris group includes billionaire Mitchell Rales and NBA legend Magic Johnson, who have both expressed interest in acquiring the team. Johnson holds partial ownership in the Los Angeles Dodgers, Los Angeles Football Club, and the Los Angeles Sparks.

The NFL’s website says the $6.05 billion price tag is expected to be the highest in the organization’s history. Denver Broncos currently holds the title after Walton-Penner purchased the team for $4.65 billion in 2022.

A source previously told PEOPLE that Jeff Bezos had his eye on purchasing the Commanders and was in talks with Jay-Z to come on as a buyer. But the Synders barred him from bidding on the team.