AP Photo/Chris Szagola
Josh Harris’ proposed $6.05 billion deal to purchase the Washington Commanders took another big step toward approval Wednesday after he had a successful meeting with the NFL’s finance committee in New York, per Mark Maske and Nicki Jhabvala of the Washington Post.
“It was very positive,” a source told the Washington Post. “It went really well. It’s not done yet. But unless something crazy happens, it’s going to get done and it will get approved.”
The meeting reportedly went so well NFL owners could ratify the deal as soon as the end of July.
The Washington Post reported last Friday that Harris planned to meet with the finance committee and that he has “given assurances that he will make the necessary adjustments” to get the deal across the finish line.
“It’s not done yet,” a source told the Post at the time. “It’s not concluded. But it’s headed in that direction. It’s in that 90 percent-plus range now.”
It appears to be even closer to 100 percent after a reportedly good meeting with the eight-person finance committee.
Some concerns regarding the deal had come to light in recent months, with Maske and Jhabvala writing about them on May 10, citing a person with knowledge of the NFL’s inner workings:
“According to that person, questions were raised during the meeting about some aspects of the deal. That person said the agreement is complex and the financing includes an unusually large number of limited partners. Harris also must demonstrate, that person said, that he has sufficient liquidity to be the principal owner of the team under the terms of what would be a record-setting sale. Another person said the finance committee emerged from Wednesday’s meeting with less clarity and certainty about the deal than it had beforehand.”
Regarding the number of limited partners, The Athletic’s Daniel Kaplan had the number at 17 total, noting that it “will require extensive vetting, with investors from outside the country making the process more challenging.”
However, Harris’ deal to purchase the team from Dan Snyder appears close to official now. Per the Post, league owners aren’t scheduled to meet again until October, but the league has the option to call a special meeting for a ratification vote.
AP Photo/Chris Szagola
Josh Harris’ proposed $6.05 billion deal to purchase the Washington Commanders took another big step toward approval Wednesday after he had a successful meeting with the NFL’s finance committee in New York, per Mark Maske and Nicki Jhabvala of the Washington Post.
“It was very positive,” a source told the Washington Post. “It went really well. It’s not done yet. But unless something crazy happens, it’s going to get done and it will get approved.”
The meeting reportedly went so well NFL owners could ratify the deal as soon as the end of July.
The Washington Post reported last Friday that Harris planned to meet with the finance committee and that he has “given assurances that he will make the necessary adjustments” to get the deal across the finish line.
“It’s not done yet,” a source told the Post at the time. “It’s not concluded. But it’s headed in that direction. It’s in that 90 percent-plus range now.”
It appears to be even closer to 100 percent after a reportedly good meeting with the eight-person finance committee.
Some concerns regarding the deal had come to light in recent months, with Maske and Jhabvala writing about them on May 10, citing a person with knowledge of the NFL’s inner workings:
“According to that person, questions were raised during the meeting about some aspects of the deal. That person said the agreement is complex and the financing includes an unusually large number of limited partners. Harris also must demonstrate, that person said, that he has sufficient liquidity to be the principal owner of the team under the terms of what would be a record-setting sale. Another person said the finance committee emerged from Wednesday’s meeting with less clarity and certainty about the deal than it had beforehand.”
Regarding the number of limited partners, The Athletic’s Daniel Kaplan had the number at 17 total, noting that it “will require extensive vetting, with investors from outside the country making the process more challenging.”
However, Harris’ deal to purchase the team from Dan Snyder appears close to official now. Per the Post, league owners aren’t scheduled to meet again until October, but the league has the option to call a special meeting for a ratification vote.
