There was speculation about Dan Snyder’s true intentions when he hired Bank of America Securities to explore all options for the sale of the Washington Commanders franchise. Snyder has been shut out on public funding from three different governments(D.C., Maryland, Virginia). NFL owners want him out, and he still has multiple open investigations going on.
Jay Glazer reports that Snyder is indeed planning on selling the entire franchise, not just selling a minority stake to raise funds for debt and a new stadium. The selling price was always expected to be high. The asking price is expected to be $7 billion, which would be a massive return on investment for a team Snyder bought for $800 million with two partners. It would also be an NFL record, which the other owners would definitely like to see. Ian Rapoport reports there has been heavy interest in purchasing the team. We’ve already heard about several potential buyers who plan on bidding on the team.
“It’s to sell everything. Look, we had Jim Irsay a couple of weeks ago say, “Hey, let’s start talking about removing him as an owner.” But you’re not going to need that, because just sell the entire team. I’m being told the asking price is going to go for $7 billion. The other interesting part is the timeline. This is not going to be a long, drawn out process. I’m told that the hope is to have this done within the next 6 months, and actually have it finalized by the NFL owners meeting next March.”