Washington Commanders near a deal to sell to 76ers owner for $6.05 billion
Irwin Kishner, co-chair of Herrick's Sports Law Group was quoted in an article in CNBC discussing the sale of the Washington Commanders, which is reportedly nearing a deal with an ownership group for $6.05 billion. The deal to purchase the team still has to be submitted and approved by the NFL's finance committee and approved by at least three-quarters of other team owners. According to the article, those terms would represent the highest sale price paid for a North American sports team.
Kishner stated that he was not surprised by the $6.05 billion sale price. “You had some very, very wealthy competition to win the bid. This bid came out to be the strongest.”
As reported in the article, the sale progress is "welcome news" following a prior investigation into the organization's workplace and the sale announcement in November 2022. Kishner also noted that a sale marks the end of a “very long saga.”
“But alas, I think it’s best for the league. I think it’s best for the team, and I think it’s best for everyone to do well,” he said.