Washington DC - Washington Commanders owner Dan Snyder has reached an agreement to sell the NFL franchise to Josh Harris for a record price of $6.05 billion.

Harris, who co-owns the NBA's Philadelphia 76ers and the NHL's New Jersey Devils, has not finalized or sent an agreement to the league, but a sale is expected to go through if no issues emerge.

Any sale would need to be approved by the NFL's finance committee and at least 24 of the league's 32 owners, who are scheduled to meet in Minneapolis, Minnesota, in May for the Spring League Meeting.

The group behind the bid, led by Harris, also includes Lakers legend Magic Johnson.

The widely reported $6.05-billion fee would shatter the previous record price for an NFL franchise, set only last year when the Denver Broncos were sold to the Walton-Penner group for $4.65 billion.

Current owner Snyder and the Commanders remain under investigation concerning allegations of workplace misconduct and potential unlawful financial conduct, while the franchise recently settled lawsuits with Maryland and the District of Columbia over fans' season-ticket deposit money.

Washington have been under Snyder's ownership since 1999 but have not won a playoff game since 2005, while their last postseason appearance came in 2020.

Overall, the Commanders have a 164-220-2 record in the Snyder years with six playoff appearances.