The Washington Commanders will have a new ownership group in 2023, one headed by billionaire businessman Josh Harris. It's been a long time coming, but Dan Snyder's reign of ownership has ended.
John Harris and Mitchell Rales, businessmen and philanthropists, have roots in Washington, D.C. So it's little surprise that they were involved in the purchase of the Commanders.
Here's a look at how Josh Harris made his money and what his net worth's like.
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What is Josh Harris' net worth?
Josh Harris has an estimated net worth of $5.9 billion. Furthermore, he's willing to spread the cash, as he owns the Philadelphia 76ers in the NFL and the New Jersey Devils in the NHL.
It was reported in 2021 that he purchased a 9,119-square-foot Miami Mansion worth $32 million.
Who is Josh Harris, face of the Commanders' new ownership?
Josh Harris is an entrepreneur and sports franchise owner who grew up in Chevy Chase, Md., United States of America. Before attending the Wharton School at the University of Pennsylvania, USA, he attended Field School Northwest Washington. He later bagged an MBA from Harvard Business School.
Harris co-founded the private equity investment giants Apollo Global Management in 1990 and saw his personal net worth shoot up when the company went public in March 2011. He remained with Apollo Global Management until January 2022, when he left to pursue other solo business endeavors.
Apart from his ownership of the Washington Commanders, he owns the NBA's Philadelphia 76ers and the NHL's New Jersey Devils. He's an investor with Crystal Palace in the English Premier League.
Who's in Josh Harris's investment group purchasing Washington Commanders?
The Washington Commanders are about to sell for $6 billion, marginally higher than Harris' net worth. As such, it's only natural that he joins forces with select businessmen to make the purchase a reality.
Hence, Harris is the face of the group that purchased the Commanders from Dan Snyder. He gathered a host of investors to help raise the funds necessary for the purchase. While the complete list is yet to be revealed, we have some notable names on the bid.
They're Mitchell Rales, an entrepreneur and philanthropist living in Potomac, Md. and Los Angeles Lakers legend and serial investor Magic Johnson. The two and Harris are the known members of the dream team about to purchase one of America's most storied NFL franchises.