Jim Irsay, owner of the Indianapolis Colts, said that the sale of the Washington Commanders to Josh Harris is “progressing” and might close as early as July.
After a Wednesday discussion between Harris and the NFL’s finance committee, which Irsay serves on, Irsay spoke with ESPN about the prospective sale. Mitchell Rales, Harris’ business partner, also attended the meeting of the eight-person committee.
The roughly two and a half hour meeting was described as “positive” by a source who spoke with the Washington Post. In the discussion, Harris promised to make the necessary changes to his offer, according to the Post. If the sale is approved by the finance committee, it will next move on to NFL ownership for approval by 24 of the league’s 32 owners, which would complete the transaction.
NFL regulations forbid ownership groupings with more than 25 partners. Additionally, institutional and private equity assets are not taken into account as part of a bid by the league. Harris’ team says it is only allowed to have 17 partners, according to a May report from The Athletic.
Irsay spoke optimistically Wednesday about Harris’ group and the sale being approved.
“It’s going well,” Irsay said. “I’m hopeful because of their inspired aspect and their enthusiasm and their track record that they’re really committing, saying, ‘Well if that doesn’t work then I’ll make it right. Either way, we’re going to make it right.’
“So we’re just trying to work through those final details. And I’m hopeful that we’ll be able to. I would imagine something in mid-to-late July would be the earliest we’d call a league meeting.”
The following NFL owners’ meeting is slated for October. To formally approve the transaction before the autumn, they might call a special meeting.
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