Washington Commanders ownership percentage starts with Josh Harris holding a 30% stake, Mitchell Rales owning 12%, and Magic Johnson having a 4% stake.
The group of investors who are the limited partners of the franchise make up the remaining 54%. There are 20 minority shareholders of the Commanders.
Former owner Daniel Snyder decided to put up the franchise for sale after other league owners mounted pressure on him to do so. It led to a historic agreement and transaction that took place in early 2023.
Snyder had purchased the NFL franchise for $750 million and after more than 20 years, he has sold the team for more than eight times the amount he bought the team.
The Commanders are hopeful with the introduction of the team of new owners who are looking forward to a good run. It is safe to say that the team is in very good hands as of now.
Washington Commanders Ownership Breakdown
Washington Commanders ownership has Josh Harris owning 30% as the majority stakeholder. Mitchell Rales owns 12%, and Magic Johnson holds 4% as limited partners.
The Harris Group which consists of 20 limited partners purchased the Commanders. The new ownership group is worth more than $100 billion (combined) and owns the remaining 54 percent of the franchise.
Washington Commanders ownership group includes:
- David Blitzer
- Mark Ein
- Lee Ainslie
- Eric Holoman
- Michael Li
- Marc Lipschultz
- Doug Ostrover
- Morgan Family
- Santo Domingo Family
- Michael Sapir
- Eric Schmidt
- Andy Snyder
The fraternity of investors led by Harris came together to purchase the Commanders. Blitzer has been a longtime sports business partner of Harris and NBA legend Earvin Magic Johnson also joined hands.
“The NFL is one of the best business models I’ve ever seen in my life,” Blackstone Global Head of Tactical Opportunities and NJ Devils and Philadelphia 76ers Co-owner, David Blitzer tells @ScottWapnerCNBC at #GamePlan23 pic.twitter.com/4QXPduAeDv
— CNBC Events (@cnbcevents) July 25, 2023
American venture capitalist and the owner of the Washington Kastles Mark Ein is also a minority stakeholder of the Commanders.
Lee Ainslie is also part of the investment group and is famously known for being the founder of Maverick Capital in 1993. Eric Holoman has been associated with the sports business as he is a managing partner of the Los Angeles Sparks and has ventured into the NFL with a minor stake in the franchise.
The owner of Range Group Michael Li, Marc Lipschultz, and Doug Ostrover, the founding duo of Blue Owl Capital have all come together as limited partners of the football team.
Mitchell Morgan and his family who own Morgan Properties are also part of the group of investors.
The Santo Domingo Family is among the richest families in the Americas and has become limited partners of the Commanders through their current head Alejandro Santo Domingo.
ProShares founder Michael Sapir, former CEO of Google Eric Schmidt, and Andy Snyder are among the other minority shareholders of the Washington Commanders.
Owners Of Washington Commanders
Washington Commanders owners with the highest stakes are Josh Harris, Mitchell Rales, and Magic Johnson. Harris is the controlling owner with a 30% share.
Joshua Jordan Harris first invested in sports back in 2011 when he and David Blitzer formed an investment group. The group went on to buy the NBA franchise Philadelphia 76ers for a whopping $290 million.
Harris is the co-founder of the private equity firm Apollo Global Management alongside Leon Black and Marc Rowan in 1990. Since then, Harris has grown his business empire and ventured into the world of sports.
In addition to buying the 76ers, Harris also owns the New Jersey Devils of the NHL, is an 18% stakeholder in Crystal Palace of the Premier League, and is a minority owner of Joe Gibbs Racing.
Josh Harris Washington Commanders majority owner is currently worth $7.6 billion according to Forbes. He previously owned a 5% stake in the Pittsburgh Steelers.
Although all limited partners have contributed to the purchase of the Commanders, Harris paid $2 billion in cash. He had tried purchasing the Broncos just a year before this humungous transaction was carried out.
The Commanders made a good start to their season under Harris but have stumbled their way since Week 3. They have only four wins and have lost seven this season.
Mitchell P. Ross is a businessman and art collector who co-founded the Danaher Corporation alongside his brother Steven Rales in 1984.
Rales is the highest shareholder of the Washington Commanders after Josh Harris. He owns 12% of the franchise and has a net worth of $4.1 billion as of November 2023.
He began his career by founding the Equity Group Holdings with his brother in 1979. The Rales brothers have been part of many ventures and in 1995, they founded Colfax Corporation.
Apart from his businesses and investments, Rales has a liking for collecting art as well. He along with his wife established Glenstone in Potomac, Maryland, The art museum has a collection of post-World War II paintings and sculptures.
He also serves as the chairman of the American-Swedish industrial company ESAB and the president of the National Gallery of Art.
Rales grew up watching the Commanders as a big fan of the club and is humbled by the opportunity to become a stakeholder in the team.
He has now become a stakeholder of the fourth most valuable sports team in the world. Although he owns the second-highest percentage in the franchise, he does not have control over the decisions.
NBA Hall of Famer and five-time NBA champion Earvin “Magic” is among the best players to have ever played the sport. Johnson has also made quite a name for himself as a successful businessman in recent times.
The former PG/SG who is a 3x NBA MVP and 3x NBA Finals MVP is currently worth $1.2 billion. He has accumulated his wealth by making the right investment choices after his retirement.
Johnson now owns stakes in four major sports teams in the United States. It includes the Los Angeles Dodgers of the MLB and the Los Angeles Sparks of the WNBA. He was also the founding member of the LAFC of the MLS and is now a limited partner of the Washington Commanders.
Although he is only a minority stakeholder in all of the sports teams, it has contributed to his gain of wealth and is among a few sports personalities who have made more money after retiring.
Magic Johnson Washington Commanders holds a 4% stake in the franchise and is reported to be worth $242 million in investments.
Johnson was also a minority shareholder of his former team Los Angeles Lakers. He bought a 4.5% stake in the Lakers which was valued at $10 million in 1994.
He had earned $40 million as a player in his career and since then, he has been minting money with his savvy business deals. Let’s take a look at some of his best investments:
- Opened 125 Starbucks stores across the country
- Dozen 24 Hour Fitness Centers
- 31 Burger Kings
- Movie theaters and Malls
- T.G.I. Friday’s in Los Angeles
Washington Commanders Ownership History
The ownership history of the Washington Commanders started with George Preston Marshall in 1932. Edward Bennett Williams was the acting owner from 1965.
A timeline of the Commanders’ ownership changes since its inception:
|Washington Commanders Ownership History||Years Active|
|George Preston Marshall||1932-1968|
|Edward Bennett Williams||1965-1974|
|Jack Kent Cooke||1974-1999|
When Boston was awarded an NFL franchise back in 1932, George Preston Marshall became the first owner of the Commanders. The team was named Boston Braves that season.
Under his ownership, the franchise won two NFL championships in 1937 and 1942. Due to his health conditions, Marshall sold 25% of his stake to Jack Kent Cooke for $350,000 in November 1960.
Although his era as owner of the team started in 1932 and ended in 1968, Edward Bennett Williams started his role as an acting owner in 1965. Williams was a 5% stakeholder of the team back then.
Williams was the acting owner of the franchise but Jack Kent Cooke was the majority shareholder of the team but was focused on running the Lakers during that period.
In 1974, Cooke became the majority shareholder and the sole owner of the Commanders in 1985. He won three Super Bowls under his ownership in 1982, 1987, and 1991.
Cooke passed away in April 1997 and left the franchise to the Jack Kent Cooke Foundation according to his will. He had clearly instructed for the sale of the team.
After two full seasons, Cooke’s son John Kent Cooke couldn’t raise the required funds for the purchase of the Commanders which was subsequently purchased by Daniel Snyder in 1999.
Snyder took the helm as owner for more than two decades but could not win a Super Bowl. It was under his tenure that the team name changed from Washington Redskins (1937-2019) to Washington Football Team (2020-2021), and then to the Washington Commanders (2022-present).
In May 2023, a record-breaking deal was signed between Snyder and an investment group that was led by Josh Harris for the purchase of the Commanders.
Josh Harris along with 20 limited partners purchased the franchise for $6.05 billion. It was the biggest deal in the history of the NFL.
Washington Commanders Value
The Washington Commanders are currently valued at $6.05 billion as of August 2023 by Forbes. The franchise has generated $545 million in revenues this year.
The Commanders’ team values in the last few years are as follows:
- 2022 – $5.6 billion
- 2021 – $4.2 billion
- 2020 – $3.5 billion
- 2019 – $3.4 billion
- 2018 – $3.1 billion
- 2017 – $3.1 billion
- 2016 – $3.0 billion
- 2015 – $2.9 billion
- 2014 – $2.4 billion
The NFL side has seen an upward growth when it comes to the team’s worth in the market. The team has almost tripled its value in a decade which is a remarkable feat to have achieved.
Their $545 million in revenues make them sit second among the NFL teams and are third in the operating income department with $87 million. They have an annual expenditure of $290 million on player expenses.