“Are there any red flags here?” – NFL reporter explains what latest update on Josh Harris’ $6.05BN bid means for Commanders

Josh Harris' ownership group appears to be in line to become the new owners of the Washington Commanders. But there are some steps that need to be taken before it can be brought in front of the NFL owners and voted upon.

With the framework of a deal with owner Daniel Snyder in place and the documentation sent to the National Football League, the NFL is reviewing the financial aspects of the purchase. On the Sporticast Media Network podcast, Eben Novy-Williams and Nick Soshnick spoke about the current steps that the Commanders sale is going through right now.

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"So, to be very clear, this process with the NFL that we're in right now, as we record this on Monday, is not the process where they approve Josh and his group, as owners," Novy-Williams said. "It's not the full background check in the vetting. This is a an earlier step with the NFL to look through the purchase agreement before Dan and Josh and his group sign it, correct?"

Sporticast Media Network

@sporticast

"This is the @NFL finance folks saying: Are there any red flags here? Is there any financing we don't like? Like if a giant, publicly traded company was listed as a major stakeholder."

-- On today's @Sporticast, @soshnick and @novy_williams talk @Commanders sale latest.

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"This is the @NFL finance folks saying: Are there any red flags here? Is there any financing we don't like? Like if a giant, publicly traded company was listed as a major stakeholder."

-- On today's @Sporticast, @soshnick and @novy_williams talk @Commanders sale latest. https://t.co/9R1iT679Se

Soshnick said that right now the National Football League is currently reviewing the finances and ensuring that there aren't any 'red flags' in terms of how Harris and his group are funding the purchase.

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"Yeah, this would be this would be sort of the finance folks looking and say, 'Are there any red flags here? Is there any financing we don't like? Is there any structure we don't like like if, out of nowhere, this, let's say, some giant publicly traded company was listed as a major stakeholder," Soshnick said. "We know the NFL does not like that, you know.

"We don't anticipate that will be a problem. But, yeah, it's just sort of a governance look and say, 'Alright, this looks to be in compliance with all of our rules. Great, you guys take it back, execute the final contract and then send it back to us and we will take it the rest of the way to that final approval, owners vote and all that stuff.'"

Can someone else still outbid Josh Harris to purchsae Commanders?

The NFL is reviewing the financial aspects of the sale of the Washington Commanders. The sale of the team is expected to be $6.05 billion, and the ownership group consists of Josh Harris, who owns the Philadelphia 76ers and New Jersey Devils, along with NBA champion Magic Johnson; his wife, Cookie Johnson; as well as billionaire Mitchell Rales.

But as the league reviews the agreement, could another potential buyer step in?

Ian Rapoport

@RapSheet

From @NFLTotalAccess: Josh Harris' $6.05B bid for the #Commanders has been submitted to the league.

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From @NFLTotalAccess: Josh Harris' $6.05B bid for the #Commanders has been submitted to the league. https://t.co/IAvduNTnzQ

Technically, yes. Since the sale hasn't been officially approved by the NFL and is still in the early stages, another owner could place a bid. While Dan Snyder may be tempted by another bid, it's very unlikely that some other entity could move in and make their own move for the team.

Snyder appears to finally be ready to part ways with the team that he has owned for 24 years. And Commanders' fans are anxiously awaiting the next chapter for the team.

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