The team owners are reportedly exploring either selling the entire team or just a minority stake.
The Commanders announced that co-owners Dan and Tanya Snyder have hired Bank of America to potentially sell the team. The move was first reported by Forbes. The publication reported that Snyder already has at least four calls from groups interested in buying the team.
“The Snyders remain committed to the team, all of its employees and its countless fans to putting the best product on the field and continuing the work to set the gold standard for workplaces in the NFL,” the statement read.
Snyder and his bankers are exploring all options, a Commanders spokesperson confirmed to Nicki Jhabvala of The Washington Post, which include selling the entire team or just a minority stake.
One owner told Sports Illustrated’s Albert Breer that the team is expected to sell for at least $5 billion, with the possibility of the price tag reaching $6 or $7 billion. Breer added that this price is considered a good prediction since the Broncos sold for a U.S.-record $4.65 billion back in June.
The announcement and move come just over two weeks after Colts owner Jim Irsay said Dan Snyder should be removed from his position and that he believes there are enough owners’ votes to remove him as the Commanders’ co-owner.
The latest momentum for Dan Snyder’s removal stemmed from an ESPN story published Oct. 13 saying Snyder recently told a close associate he has enough information to “blow up” several NFL owners, the league office and commissioner Roger Goodell. Per the ESPN report, Snyder has used private investigators to look into several NFL team owners and Goodell, the same tactics Snyder is said to have used within his own franchise.
Dan Snyder is also facing investigations from the league and a congressional committee looking into workplace misconduct in the franchise. The NFL first launched an investigation into the franchise after a July 2020 report by The Washington Post detailed accounts from 15 former female employees alleging sexual harassment by various staffers over the course of 18 years. The House Committee on Oversight and Reform is investigating Snyder, who testified in front of the committee in July ’22.
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For more Washington Commanders coverage, go to Commander Country.