Who is Mitchell Rales? Maryland businessman worth $5BN in fray for Washington Commanders purchase

Could businessman Mitchell Rales be in line to purchase the Washington Commanders? Rumors of a possible sale of the NFL franchise have ramped up recently as the remaining team owners discuss a possible vote to oust Daniel Snyder.

Just last week, it was reported that Amazon founder Jeff Bezos was informed that he was not permitted to place a bid for the team.

On Thursday morning, ESPN's NFL insider Adam Schefter reported that Mitchell Rales plans to partner with Josh Harris to buy the Washington Commanders. Harris is well-known for being the owner of the NHL's New Jersey Devils and the NBA's Philadelphia 76ers.

Josh Harris tried to purchase the Denver Broncos last year, but it was a failed attempt after an ownership group that had more funding and power beat him out for the opportunity. Adding Rales, another billionaire, to his bid may be the driving force he needs to buy an NFL franchise.

How did Mitchell Rales make his money?

Businessman Mitchell Rales is worth an estimated $5.6 billion, according to Forbes. His rise to being one of the richest people in the country began in 1979, when he and his brother, Steven, left their father's real estate company to start their own equity firm. The brothers used bonds to purchase a line of various businesses and then merged it with their firm Danaher in 1983.

Danaher is now an industrial firm that has acquired over 40 businesses throughout the years, accumulating nearly $30 billion in revenue. They also bought the WGMS AM radio station and converted it into WTEM, a sports radio station that debuted in 1992.

In 2006, Rales and his wife Emily opened Glenstone, a contemporary art museum in Potomac, Maryland. His goal was to share his love of art with others, which led him to make the experience completely free for visitors.

While he has made billions through his business ventures, he is also a philanthropist. One of the biggest donations he made was last year when he and his brother donated their shares of Danaher, worth over $1.5 billion, to various charities.

How much are the Washington Commanders worth in 2023?

Daniel Snyder purchased the Washington Commanders in 1999 for $800 million. As of 2023, the Commanders are now said to be worth $5.6 billion.

To put that into context, the Denver Broncos sold for $4.65 billion in 2022. But, along with the big price tag for the NFL franchise, they will also need additional improvements made to FedEx Field as well, which could make it an even bigger investment for the new owner.