Billionaire industrialist Mitchell Rales's wealth and local roots bring additional appeal to bid to buy Commanders.
, also arrived at a critical juncture. Some NFL owners and others involved in the sale process are intent upon trying to persuade Snyder that he would be best-served by striking a deal in the coming weeks, according to multiple people close to the process. Still, it remains unclear whether an agreement can be reached before NFL team owners convene in Phoenix for the annual league meeting later this month, according to five people with knowledge of the sales process and the owners’ views.
In the Harris and Rales partnership, Snyder would get buyers who can write a check for fair-market value, plus the premium that’s typically tacked on for the cachet of owning one of 32 NFL teams.The combined net worth of Harris and Rales is estimated at $11.3 billion to $14 billion, according to Forbes and Bloomberg’s Billionaires Index.
Snyder might find value in placing the team in the hands of owners with Washington-area roots. Like Snyder himself, Harris and Rales grew up in Montgomery County cheering the hometown team. “It was the same thing for my brother and me,” Rales said. “It was these two young guys doing what they were doing. People said: ‘Something must be wrong. They did not pay their dues.’ ”Rales maintains a low public profile outside the art world. He is president of the National Gallery of Art and co-founder and chief benefactor of Glenstone, the private art museum he founded with his wife in 2006.
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