Josh Harris will meet with the NFL finance committee Wednesday to discuss his pending $6.05 billion purchase of the Washington Commanders, according to multiple reports.
The meeting is the next step for the league, which has been reviewing Harris’ agreement over the last month after the billionaire reached a deal to buy the team from owner Dan Snyder. The NFL has reportedly raised issues with Harris’ bid due to the complexity of the deal, but Commissioner Roger Goodell told reporters last month that he still anticipated owners ultimately approving the sale.
But Harris and his group have been committed to sorting through any problems to get the deal finalized. Multiple reports indicated over the weekend that if Harris’ meeting with the finance committee goes well, the league could be in a position to vote on the sale later this summer — possibly even before training camp opens in late July, ESPN reported.
Harris’ deal to buy the Commanders must receive 24 of 32 votes from NFL owners.
NFL owners aren’t scheduled to meet again until October, but the league can call a special session if needed for a deal to get done. That’s what happened last August when the league suddenly scheduled a meeting for owners to approve Rob Walton’s $4.65 billion purchase of the Denver Broncos.
At a league meeting in Minnesota late last month, Indianapolis Colts owner Jim Irsay said that the Commanders’ sale was still “a little ways away” from being completed, telling reporters that Harris’ group had to comply with league policy.
Part of the complexity stemming from Harris’ deal centers around the number of limited partners involved in his group. Harris’ group reportedly contains 20 limited partners — all of whom have to be vetted by the league. Harris, the managing owner of the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils, has partnered with Maryland billionaire Mitchell Rales and NBA legend Magic Johnson, among others.
The Washington Post reported that some NFL owners are also concerned about the debt that Harris is attempting to take on in the deal. League rules allow for ownership groups to take on up to $1.1 billion in debt.
After Harris’ meeting this coming week, the NFL finance committee — made up of eight owners, including Irsay — is reportedly set to meet separately in subsequent weeks to further discuss the Commanders’ sale.
“I think we’ll get it to a place where it’ll be approved,” Goodell said of Harris’ deal last month. “We’re hard at work. … There’s a lot of due diligence, as well as compliance issues. All of that is happening and working full speed.
“We’ll be in contact with the finance committee and when they’re prepared to make a recommendation, we’ll alert the media, as well as the membership, and we’ll have a meeting at the appropriate time.”