NFL : Commanders Sale to Pay Daniel Snyder 'Earnout'

The agreement to sell the Washington Commanders to a group headed by Josh Harris for $6.05 billion includes a "earnout" provision for current owner Daniel Snyder.

They added more context to the agreement, alluding to their earlier report on the NFL finance committee's concerns regarding the pact's complexity.

"The earnout represents a small but potentially significant portion of the total sale price," they wrote. 

"Its inclusion in the transaction partially explains why individuals familiar with the NFL finance committee's deliberations last week characterized the sale agreement.

According to Pro Football Talk's Mike Florio, this report "dovetails" with one produced by Seth Wickersham and John Keim of ESPN.

"boost attendance, ticket sales, sponsorship revenue, as well as the team's prospects for a new stadium," according to an ESPN report.

This proposal was also optimistic about obtaining $1.5 billion in public financing from the state of Virginia for a new football stadium.

Snyder would receive the earnout payments if the Harris-led team met certain financial benchmarks during a potentially prosperous financial era .

Last Friday, Harris, who is also the managing partner of the Philadelphia 76ers and New Jersey Devils, announced a deal to purchase the team from Snyder. 

Before the transaction can become formal, however, at least 24 of the NFL's 32 owners must sanction it.

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