There are still a few hoops for prospective Washington Commanders owner Josh Harris to jump through before the team is officially his and out of Daniel Snyder's hands. But assuming those checkpoints are routinely cleared, fans already know how the $6 billion pie will be divided, via NBC Sports' Mike Florio.
Harris' slice will obviously be the biggest, and he stands to have a 30 percent ownership stake in the franchise. The rest will be divided among his 17 limited partners, including Los Angeles Lakers icon and NBA Hall of Famer Magic Johnson and billionaire businessman Mitchell Rales. The latter's share will be 12 percent with Johnson set to hold four percent.
The sale has been a long time coming. The Snyder tenure has been filled with controversy, scandal and debilitating accusations that have all led to this monumental exchange of power. Harris, a private equity investor, still needs to be approved by the other owners– they will meet in May–but he should be welcomed into this exclusive fraternity of billionaires.
Although many want a change, it takes time to acclimate to any new person in charge, especially when they're largely unknown to the public. The presence of Magic Johnson should make that transition a bit easier. His big smile and affable nature hypnotized countless of NBA fans during his playing days and should do the same now.
As an authority figure, Johnson has been a mixed bag, but his role with the Commanders should be more of an ambassador type. With the way the league is growing year after year, he should be able to cash in on his $240 million investment.
Follow Us
Subscribe