Harris, who grew up in Chevy Chase, Md., attended field school in Northwest Washington, and assembled a large investment team. A week before preliminary bids were due in February, he toured the team’s practice facility and stadium, as every qualified bidder is allowed to do, according to a person familiar with the Chiefs’ sales process.
The bidding process is complicated because interest rates have risen over the past year, raising the cost of borrowing. Formerly a high-profile team owner, Snyder has stayed out of the public eye and away from the team.
NFL rules require each club to have a principal owner who owns at least 30 percent of the team, meaning Harris must raise at least $1.8 billion on his own. He has a Estimated net worth is $6 billionAccording to Forbes.
In March, Harris hired Rales, a co-founder of Maryland-based Danaher Corp., to join his investment team, a person familiar with the deliberations said. Rales has an estimated net worth of $5.6 billion, according to Forbes, and adds strong local ties to the franchise.
Harris also hired Magic Johnson, which will help appease other NFL owners, who said in a statement last March that prospective ownership groups “would consider it a positive and meaningful factor if they included a diverse group of people with significant stakes.” and involvement in the club.”
Tillman J., owner of the NBA’s Houston Rockets. Harris defeats Ferditta. A bid of $5.6 billion was reported To the generals. Amazon founder Jeff Bezos was thought to be interested in buying the club, but he is buying it Not known to have bid to the team.
Jenny Vrentas Contributed report.