The Washington Commanders, formerly known as the Washington Redskins, have a new owner. Josh Harris, a private equity billionaire, and a Chevy Chase native. He has bought the team from Dan Snyder for a record $6 billion. Here are some facts about Harris and his plans for the team.
A Successful Investor and Sports Fan
Harris, 56, is the co-founder and senior managing director of Apollo Global Management, one of the world’s largest alternative investment firms. He has a net worth of $6.6 billion, according to Forbes. He is also an avid sports fan and owns the Philadelphia 76ers and the New Jersey Devils, two teams that have made significant improvements under his ownership.
Harris is joined by his longtime business partner David Blitzer and NBA legend Magic Johnson in his investment group for the Commanders. The group also includes local billionaire Mitchell Rales, who co-founded Danaher Corporation, a science and technology company.
A Fresh Start for the Commanders
Harris’ purchase of the Commanders ends Snyder’s controversial 24-year tenure as the owner of the team. Snyder faced multiple scandals and lawsuits over the team’s name, which was widely seen as offensive to Native Americans. Over allegations of sexual harassment and financial misconduct within the organization.
The NFL fined Snyder $60 million on Thursday after an investigation into the allegations. Snyder agreed to sell the team in April after facing pressure from minority shareholders and fans. NFL owners approved the sale unanimously on July 20.
Harris has promised to bring a new culture and vision to the Commanders. Who have not won a Super Bowl since 1992 and have struggled on and off the field in recent years. He has said he will work closely with head coach Ron Rivera and general manager Martin Mayhew to build a competitive and inclusive team.
A New Name and Logo Coming Soon
One of Harris’ first tasks as the new owner will be to choose a new name and logo for the team. Which played as the Washington Football Team last season after dropping its former name. The team has been conducting a fan survey and consulting with experts to find a suitable name that reflects its history and values.