Billionaire businessman Josh Harris is at the helm of the new ownership group that will soon take over the Washington Commanders. Dan Snyder’s ownership of the team will soon come to an end after a lengthy absence.
Washington, D.C. is home to businessmen and philanthropists John Harris and Mitchell Rales. Therefore, they will invest in a franchise that has special meaning to them. Without further ado, let’s take a look at the new people that own the Washington Commanders. If you want to learn about his wealth, read on.
Josh Harris Net Worth
More and more evidence suggests that Washington Commanders owner Daniel Snyder has accepted a bid from Josh Harris and his ownership group for somewhere in the neighborhood of $6 billion.
Mitchell Rales, another billionaire, and NBA legend Magic Johnson, who helped the Los Angeles Dodgers win the World Series after many decades and led the Los Angeles Football Club to the MLS Cup in just their second year in the league, have joined Josh Harris as partners in the LAFC.
Harris Blitzer Sports & Entertainment is the owner of the National Basketball Association’s Philadelphia 76ers and the National Hockey League’s New Jersey Devils.
The new owners of the Commanders have a new public face in Josh Harris.
Businessman and sports team owner Josh Harris hails from Chevy Chase, Maryland, USA. He went to Field School in Northwest Washington before enrolling at the Wharton School at the University of Pennsylvania in the USA. In time, he graduated with an MBA from Harvard.
Harris had a huge increase in his personal wealth after he co-founded the private equity investment firm Apollo Global Management in 1990 and the firm went public in March 2011. He worked with Apollo Global Management until January 2022, when he decided to strike out on his own.
In addition to the Washington Commanders, which he will shortly formally acquire, Harris owns the Philadelphia 76ers of the NBA and the New Jersey Devils of the NHL. In the English Premier League, he is an investor at Crystal Palace.
How Harris Turned the Philadelphia 76ers Around?
Harris paid $290 million to acquire the 76ers in 2011 and spent the first five seasons in rebuilding mode. Philadelphians’ rallying cry is “Trust the process.”
At first, things didn’t look good. In 2015–16, the team had a record of 10-72, good for the third-worst in NBA history.
But after trading for star center Joel Embiid, things started looking up. The 76ers have qualified for the postseason for the past five years in a row, and this year they placed third in the Eastern Conference.
The 76ers have increased their home attendance to almost 14,000 from 3,500 in 2011 and have sold out 225 consecutive home games.
According to Ganis, “he and Blitzer have been exceptional owners.” “They took an NBA team in a great market but that was almost irrelevant, and turned it into a team almost as relevant to Philadelphia as the Eagles.”
In an interview with Bloomberg conducted earlier this year in Philadelphia, Harris revealed that he had followed the Eagles ever since he was a student at the University of Pennsylvania.
“This is a city that holds you accountable,” Harris remarked. To paraphrase, “If you do it for them, they come out for you.”
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Billionaires and Basketball Stars: Harris’ Team Negotiates Purchase of Washington Commanders
The sale price of $6 billion for the Washington Commanders is just a hair more than Harris’ own fortune. So it stands to reason that he would team up with a few savvy businessmen to make the acquisition a reality.
Harris represents the group that is currently in negotiations with Dan Snyder to buy the Commanders. He rounded up a number of investors, who contributed to the sum needed for the acquisition. The full roster is still secret, although it includes some big names.
Mitchell Rales, a businessman and philanthropist from Potomac, Maryland, and Earvin “Magic” Johnson, a former NBA star and successful investor from the Los Angeles Lakers, are the two men in question. These three are all that is known about the ideal squad that is set to purchase one of the most historic NFL franchises in the United States.
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