Current Ownership Structure
The Washington Redskins are owned by a limited liability company named Washington Commanders LLC, which serves as the primary holding entity for the franchise. The controlling interest is held by Josh Harris, a private equity executive and co-founder of the firm Harris Blitzer Sports & Entertainment. Harris led the investment group that acquired the team in 2023, marking a major shift in the franchise's ownership history. The transaction was valued at approximately 6.05 billion dollars, making it one of the most expensive sports franchise purchases on record according to Forbes.
The ownership group includes several high-profile investors with backgrounds in finance, technology, and sports. Among the notable members are David Blitzer, a senior managing director at Blackstone, and Magic Johnson, the former NBA star and business executive. The group also includes investments from the Kraft family, owners of the New England Patriots, and the Kroenke Sports & Entertainment family, which owns the Denver Broncos and Arsenal FC. These partnerships bring deep capital and operational experience to the franchise's management structure.
Previous Ownership and Franchise History
Before the 2023 sale, the team was owned by Daniel Snyder, who had controlled the franchise since 1999. Snyder purchased the Washington Redskins from the estate of Jack Kent Cooke, the team's previous owner, for approximately 800 million dollars. His tenure was marked by prolonged periods of poor performance on the field, workplace misconduct investigations, and sustained public criticism over the team's former name and logo.
The NFL itself became involved in the ownership transition after a 2021 Washingtonian investigation detailed numerous allegations of sexual harassment and bullying within the organization. The league imposed a 10 million dollar fine on Snyder and required him to sell the team. The forced sale process was closely monitored by the NFL, which had the authority to veto any potential buyer. The final sale to Josh Harris's group was approved by the league's owners in July 2023, ending Snyder's 24-year ownership per the official NFL website.
Corporate and Financial Details
The acquisition was structured through a complex LLC formation designed to meet the NFL's strict ownership policies. The league requires that at least 30 percent of the ownership group's capital be held by the principal owner, and the new structure ensures compliance with these rules. Harris serves as the managing partner, with the other investors holding minority stakes. The purchase price of 6.05 billion dollars set a new benchmark for North American sports franchises, surpassing the previous record held by the Carolina Panthers, which sold for 4.2 billion dollars in 2018.
Key Financial Figures
The 6.05 billion dollar valuation reflects the growing financial scale of NFL franchises, driven by lucrative national television contracts and expanding revenue streams. The team's new stadium, a state-of-the-art facility in Arlington, Texas, is expected to open in 2028 and will feature a retractable roof and expanded seating capacity. The construction costs are projected to exceed 5 billion dollars, with significant funding coming from public tax increment financing districts and private capital from the ownership group as documented in SEC filings.
Ownership Group Composition
The ownership group includes a mix