When Daniel Snyder bought the then-Washington Redskins in 1999, he did so for a price of $800 million. On Thursday, the sale of the now-Washington Commanders from Snyder to Josh Harris was made official, and Snyder sold the team for a record $6.05 billion.
“Congratulations to Josh Harris and his impressive group of partners,” NFL Commissioner Roger Goodell said in a statement. “Josh will be a great addition to the NFL. He has a remarkable record in business, sports, and in his communities. The diverse group that Josh has put together is outstanding for its business acumen and strong Washington ties and we welcome them to the NFL as well.
“I met Josh several years ago, prior to his acquisition of an interest in the Steelers and have been fortunate to get to know him better over the past few months. I know he has a commitment to winning on the field, but also to running an organization that everyone will be proud of — and to making positive contributions in the community.”
As the league officially announced the sale of the team vis its communications arm, it also finally revealed the findings of the investigation by former U.S. Attorney and SEC Chair Mary Jo White and her colleagues from Debevoise & Plimpton into Snyder’s multiple dealings outside the purview of league standards.
From the NFL’s statement:
NFL Commissioner Roger Goodell appointed Ms. White as the independent investigator immediately following allegations against Commanders owner Daniel Snyder made by former Commanders employee Tiffani Johnston at a Congressional roundtable in February 2022.
The Commissioner expanded Ms. White’s review in April 2022 to include alleged financial misconduct at the club, after those allegations were first raised before a Congressional committee.
Ms. White and her colleagues conducted a comprehensive and independent investigation over 17 months that included interviews with dozens of witnesses, sometimes on multiple occasions, a review of over 10,000 documents, and assistance from a team of forensic accountants.
“We appreciate the diligence, thoroughness and professionalism of Ms. White and her team throughout this process,” said Commissioner Goodell. “We pledged to share her findings publicly and are doing so today.”
Mr. Snyder will pay $60 million to the league in resolution of Ms. White’s findings and all outstanding matters.
“The conduct substantiated in Ms. White’s findings has no place in the NFL,” said Commissioner Goodell. “We strive for workplaces that are safe, respectful and professional. What Ms. Johnston experienced is inappropriate and contrary to the NFL’s values.”
Ms. White’s findings concluded that Snyder was to be sustained in the matter of Tiffani Johnston’s claims of sexual harassment, and the further claims that the team underreported its own revenue to avoid sharing that revenue with the other 31 clubs. Furthermore, it was stated by Ms. White that Snyder and the team failed to cooperate with her investigation.
Which makes the league’s gesture of fining Snyder $60 million as he hit the door nothing but performative. Snyder walked with relative impunity through a quarter of a century of disastrous mis-management and shady dealings, and he leaves laughing all the way to the bank.
And now, one of the most onerous ownerships in professional sports history has come to an end — with little more than a slap on the wrist for Snyder, but also with the best possible scenario for the NFL itself.
Daniel Snyder is out of the league. In the end, that’s all that matters.