The club was bought by a group around businessman Josh Harris, which also includes basketball legend Magic Johnson. These partners also own the New Jersey Devils from the NHL hockey team and the Philadelphia 76ers from the NBA basketball team.
So far, the highest amount for the sale of a North American sports club was last year’s $4.65 billion (almost 100 billion crowns), for which they changed owners in the NFL, the Cleveland Browns.
Snyder bought the Washington Redskins in 1999 for $800 million. In 2020, after pressure from organizations fighting for the rights of indigenous people, who found the name “Redskins” offensive, he decided to remove the nickname and last year officially renamed the club Commanders.
Wow…The Washington Commanders sale is complete, and Dan Snyder is being fined $60 million by the NFL on the way out.
The independent investigation found allegations of sexual harassment by Snyder and deliberate underreporting of shareable revenues were sustained.
Full 23-page… pic.twitter.com/59nXcgiEoh
— Joe Pompliano (@JoePompliano) July 20, 2023
Snyder was forced to sell the team after a more than year-long independent investigation revealed serious misconduct in its management. According to investigators, the club failed to report at least $11 million in profits that should have been distributed among other clubs. In addition, the 58-year-old businessman was accused of sexual harassment during a club dinner by a former employee of Washington. Snyder denied the allegations, but investigators said the woman’s claim was credible.
“This type of behavior has no place in the NFL. We strive for a work environment that is safe, courteous and professional. What Ms. (Tiffani) Johnston experienced is inappropriate and contrary to the values of the NFL,” commissioner Roger Goodell said on the league’s website.