Nothing has been made official and everything remains unsigned and still up in the air, but the NFL's informal review of the agreement the Josh Harris-led group reached with Daniel Snyder to purchase the Washington Commanders for $6.05 billion has turned up only minor issues that the Harris group must fix in order to complete the deal, according to a report by the Washington Post.
The "small holes" in the deal can be addressed relatively easily and left the league and other owners confident the deal would be approved after terms of the deal were submitted to the NFL for a first-round of review, despite the deal remaining unsigned and nonexclusive, according to the Post.
The Post, citing a person with knowledge of the league's inner workings, said the issue was the deal did not account for a small portion of the funding used to purchase the Commanders, which put the bid above the league's debt rules. The NFL allows for up to $1.1 billion to be borrowed to purchase a franchise.
Forbes reporter Mike Ozanian joined The Kevin Sheehan Show earlier Wednesday to offer further details about the Harris-led group's bid after reporting that the Sixers and Devils owner would own a 30 percent stake. There would be 17 other partners, with Mitchel Rales owning 12 percent and Magic Johnson owning four percent.
Obstacles remain and, as with Snyder, anything could still happen, but the unsigned, unofficial, and nonexclusive deal for Harris' group to wrestle control of the Washington football franchise from Snyder appears to be on track.
Ozanian provides a complete outlook of the structure of the bid and much more detail about the state of the sale process in the above interview.
The full report in the Post can be read here.
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