As Brian Davis makes a twelfth-hour Hail Mary play for the Commanders, the Josh Harris bid moves closer to securing appropriate approvals. But it’s still far from being done.
Via the Washington Post, the NFL’s informal review of the $6.05 billion deal revealed “only minor issues” to be resolved. There are “small holes” in the deal that can be addressed easily.
The bigger impediments are the lingering indemnification issue and the NFL’s ongoing second investigation of current owner Daniel Snyder and the team.
One hole that doesn’t seem small comes from the fact that the deal fails to account for a “small portion” of the funding, potentially putting the package above the debt limit of $1.1 billion. Whatever the amount, someone other than a bank is going to have to come up with it.
The Post adds that the deal is “nonexclusive,” allowing Snyder to sell to someone else. Canadian billionaire Steve Apostolopoulos remains in the running, along with Davis. Others could get involved, too. In theory.
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