Update: The Snyders are exploring all sales options including selling minority ownership stake(s) and the full sale of the team.
When asked for clarification on whether the Snyders intend to sell the entire team or a minority interest, a Commanders spokesperson said: "We are exploring all options."https://t.co/2pV2Q2AJWE— Nicki Jhabvala (@NickiJhabvala) November 2, 2022
The day that we have all been waiting for has finally arrived! Dan and Tanya Snyder have engaged Bank of America Securities to explore the sale of the Washington Commanders franchise. At long last, we may finally be free of this nightmare.
Dan Snyder has owned the Washington Redskins/Football Team/Commanders since 1999 and has done more damage to the team, the area, and the fanbase than anyone thought possible since taking over. Recently he, and the organization, have been the subjects of multiple NFL investigations, a House Oversight and Reform investigation, and several investigations by Attorneys General. the Washington Football Team was fined $10 million dollars as the result of the Beth Wilkinson report and Dan Snyder was suspended...kind of. The current NFL investigation led by Mary Jo White is still ongoing, and was thought to be the catalyst that could either force Snyder to consider a sale or force the hands of at least 24 other NFL owners to vote him out.
NFL owners want to avoid that option due to Snyder’s reputation with lawyers, and also the negative exposure it could bring to the league, and on themselves if this case were to enter a prolonged legal battle between a cabal of billionaires who all have their secrets. ESPN recently reported that Snyder had hired investigators to dig up dirt on other owners and NFL executives. The House Oversight Committee has already found that Snyder had hired investigators to get information on accusers, former business partners, former employees, and reporters involved in his investigations.
Today’s development could be a monumental shift in the history of the Washington NFL franchise, or it could be a cash raising effort for an owner who wants to desperately hold onto his team, and needs a new stadium to do that. He has lost the support of Maryland, Virginia, and Washington, D.C. lawmakers in that effort, and NFL owners were reportedly looking at other ways to cut him off financially, including denying him loans and debt waivers that are usually rubber stamped for owners looking to build new megastadiums.
Commanders announced that Tanya and Dan Snyder have hired Bank of America Securities to explore the sale of their franchise. pic.twitter.com/segaWzHyQP— Adam Schefter (@AdamSchefter) November 2, 2022
Dan Snyder has hired Bank of America to sell the Washington Commanders, per @Forbes.— Joe Pompliano (@JoePompliano) November 2, 2022
The team is currently valued at $5.6 billion, which would be the most expensive sports team sale in history. pic.twitter.com/tYsR1LnwCN