Report: Josh Harris deal is in “90-percent-plus range” for approval
The Josh Harris deal to buy the Commanders has some structural issues that need to be resolved before the NFL will approve the purchase of the team from Daniel Snyder. Things seems to be moving in the right direction.
According to the Washington Post, the deal currently is in the “90-percent-plus range” for approval.
Harris reportedly is due to meet with the NFL financial committee next week. He has given assurances that he will make the “necessary adjustments” to the deal in order to secure at least 24 ownership votes in favor of the purchase.
The fact that Harris had to give such an assurance shows that the deal as constructed had flaws that the NFL was not willing to overlook.
There are issues regarding the debt in the deal, as it relates to the NFL’s $1.1 billion debt limit.
The broader question, given the issues with the structure of the purchase, is whether the Harris group will have the means to competitively operate the team. If cash is in any way tight, the Commanders might not be able to persuade free agents to pick Washington over another city.
The intense league-wide desire to move on from Snyder has made such concerns a footnote, at best. Commanders fans, however, might ultimately wish that someone like Jeff Bezos, who could pay the full $6.05 billion without debt or partners and who could sign any free agents in the blink of an eye, had bought the team.