
The Washington Commanders have undergone a major transformation in the last two years, both on and off the field. With new leadership in the form of head coach Dan Quinn and rookie quarterback Jayden Daniels, the team is beginning a new chapter under a new ownership group.
In 2023, the Commanders were sold for a record-breaking $6.03 billion, ending the notorious tenure of Dan Snyder. Snyder, known for his toxic management and underperformance, had been the team’s owner for 24 years, with the Commanders only reaching the divisional round twice during his reign. Snyder’s departure followed a $60 million fine earlier that year after an investigation found him guilty of sexual harassment.
Who Owns the Commanders?
The Commanders were bought by an ownership group led by Josh Harris, a private equity investor. Harris is the co-founder of Apollo Global Management, and he is also the managing partner of the Philadelphia 76ers (NBA) and New Jersey Devils (NHL).
Josh Harris: Wealth and investments
Josh Harris, 60, co-founded Apollo Global Management in 1990, and he has expanded his wealth through his sports and business ventures. He purchased a stake in the Philadelphia 76ers in 2011, and the value of the team has more than quadrupled since then. Harris also holds interests in the New Jersey Devils and Crystal Palace Football Club.
- Net Worth: $11 billion (Forbes)
Does Magic Johnson Own the Commanders?
Yes, Magic Johnson is a minority owner of the Commanders. The NBA legend owns 4% of the team, investing $242 million for his stake. Johnson has a long history of investments in various sectors, including sports. He also owns stakes in the Los Angeles Dodgers, Los Angeles Sparks (WNBA), and LAFC (MLS).
Magic Johnson: Wealth and career
Magic Johnson earned approximately $40 million during his NBA career, mostly in the 1980s, and added millions more through endorsements. Post-basketball, Johnson built significant wealth through joint ventures in movie theaters, Starbucks franchises, real estate, and healthcare. His major fortune comes from a 60% stake in EquiTrust, a life insurance company, which he grew substantially since taking over in 2015.
- Net Worth: $1.6 billion (Forbes)
Commanders’ Minority Owners
The Commanders’ ownership group includes several notable individuals and business figures, such as:
- Mitch Rales
- Magic Johnson
- David Blitzer
- Mark Ein
- Lee Ainslie
- Eric Holoman
- Michael Li
- March Lipschultz
- Morgan Family
- Doug Ostrover
- Santo Domingo Family
- Michael Sapir
- Eric Schmidt (Former CEO of Google, worth $26.1 billion)
- Andy Snyder (Not related to the former owner)
With a diverse and wealthy ownership group, the Commanders are positioned for a new era of success and cultural change under the leadership of Josh Harris and his partners.