Dan Snyder's controversial tenure as owner of the Washington Commanders ended Thursday as NFL clubs unanimously approved the sale of the team to a group led by private equity investor Josh Harris.
"NFL clubs today unanimously approved the sale of the Washington Commanders to Josh Harris and his limited partners at a special league meeting in Minneapolis," the National Football League said in a statement.
The investment group led by Harris, which also includes NBA legend Magic Johnson, is paying $6.05 billion, a record for a North American sports franchise, ESPN reported.
Snyder's departure comes with a final sanction, the NFL also announcing Thursday that he will pay the league $60 million after an investigation led by former prosecutor Mary Jo White substantiated allegations of misconduct and financial improprieties made by former employees of the club.
The league said the payment would be made "in resolution of Ms. White's findings and all outstanding matters."
Snyder had been majority owner of the Commanders since 1999 and his family became sole owners after he bought out his limited partners two years ago.
Harris, co-owner of the NBA's Philadelphia 76ers and NHL's New Jersey Devils and a partner in English Premier League side Crystal Palace, is an asset management firm executive who grew up in suburban Washington.
Harris reached an agreement to purchase the club on May 12, but the vote by owners was delayed as financial details that kept the deal in line with NFL requirements were worked out.
"Congratulations to Josh Harris and his impressive group of partners," league commissioner Roger Goodell said in a statement.
"Josh will be a great addition to the NFL. He has a remarkable record in business, sports, and in his communities," he added.
"The diverse group that Josh has put together is outstanding for its business acumen and strong Washington ties and we welcome them to the NFL as well."
Snyder has been targeted by multiple investigations in recent years.
A US congressional probe found that he "permitted and participated in" a troubling toxic workplace culture for decades, with the NFL failing to protect workers from sexual misconduct.
The probe was initiated after the NFL declined to release the full results of an earlier investigation in which attorney Beth Wilkinson found bullying, intimidation, sexual harassment and inappropriate conduct by executives of the team formerly known as the Washington Redskins.
While Snyder and the club were fined $10 million and day-to-day operations were turned over to his wife, Tanya Snyder, the league was criticized for failing to make all of Wilkinson's findings public.
- Financial misconduct -
The team was also investigated for unlawful financial conduct, settling lawsuits with the District of Columbia and Maryland over the season ticket deposit funds of supporters.
Goodell appointed White to lead an independent investigation after allegations against Snyder were made by former Commanders employee Tiffani Johnston at a congressional roundtable in February 2022.
Goodell expanded White's review in April 2022 to include alleged financial misconduct at the club, after those allegations were first raised before a congressional committee.
White's investigation sustained Johnston's allegation that Snyder put his hand on her thigh under a table at a team dinner, and later pushed her toward the back seat of his car.
White also found that the Commanders intentionally shielded and withheld revenue that should have been shared with other NFL clubs, a violation of league policies.
The investigation identified approximately $11 million in revenue that the team appeared to have improperly shielded from sharing with other NFL franchises and owners.
While Snyder had long resisted calls to sell, the Snyders announced last November that they were exploring options to sell the club he purchased in 1999 for $800 million.
During his tenure the team also floundered on the field. From 1971 to 1992 the club won three of five Super Bowl appearances.
Under Snyder, Washington won the NFC East division four times but was 2-6 in the playoffs. The Commanders have not won a playoff game since 2005.
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