Washington Commanders make it official with $3.7 billion announcement | Official Website of Louis Velazquez, entrepreneur, finance guy and tech innovator

For Washington Commanders fans, September 17 represented the conclusion of a long, drawn-out battle that could return the franchise to its glory days.

Owning an NFL franchise is one of the most secure investments a wealthy person can make. The average NFL franchise more than doubled in value between 2018 and 2024.

According to CNBC, the average value of the NFL‘s 32 franchises is now $6.5 billion, thanks to lucrative television and sponsorship deals and a level of popularity the league has never experienced.

On Wednesday, the Commanders secured a deal that should eventually increase the team’s value immensely.

The demolition of RFK stadium in Washington, D.C. is already underway.

Image source&colon; Tom Brenner/Getty Images

D.C. Council approves $3.7 billion Commanders’ stadium deal

The Washington D.C. Council voted to approve a $3.7 billion stadium deal that it hopes will revitalize a neglected area of the city.

Legislation often moves slowly in Washington D.C., and this deal was no different. The Council has been negotiating the deal for months, hammering out the details with Commanders Managing Partner Josh Harris.

The Council voted 11-2 in favor of a deal that authorizes using $1 billion in taxpayer money to demolish and prepare the RFK Stadium site where the future stadium will stand.

D.C. will pay $500 million for horizontal stadium construction, Events D.C. will pay $181 million, and the city will pay $175 million to build event parking garages that will be under the city’s control once they’re finished.

The Commanders will invest another $2.7 billion to build the 65,000-seat domed stadium.

“Today is a historic day for D.C., the Commanders organization and our fans,” Harris said in a statement. “With the council’s approval, we can now move forward on the transformative RFK project that will bring lasting economic growth for our city.”

The groundbreaking is expected to begin next year with a targeted opening date ahead of the 2030 NFL season.

Washington Commanders’ new ownership is making big changes

The Washington Commanders (formerly Washington Redskins) were finally able to oust their owner, Daniel Snyder, and Harris took over in 2023.

Nearly 30 years of embarrassing futility had dropped to the middle of the pack a franchise that was once top-3 in terms of valuation.

Harris and his group of investors, which includes NBA Hall of Famer Magic Johnson, purchased the franchise for $6 billion.

The team immediately went to work upgrading facilities at its headquarters in Ashburn, Virginia, and its nearly 30-year-old stadium in Landover, Maryland.

The changes were felt nearly immediately.

Every year, the NFL Players Union produces a report card. It’s a survey ranking each team based on how players in the locker room feel about their franchises.

After finishing dead last for two years, the Commanders jumped to 11th in 2024, with players pointing to new head coach Dan Quinn as the key to the turnaround in sentiment.

Meanwhile, the franchise is now valued at $7.6 billion, according to Forbes, a 21% year-over-year increase that places it as the tenth-most-valuable franchise in the league.

That valuation should jump once the team moves to its shiny new stadium in 2030.