There could be a changing of the guard with the Washington Commanders. Shortly after a Forbes report, the Commanders released a statement confirming Dan and Tanya Snyder have hired Bank of America Securities to consider “potential transactions.”
“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.”
Does that mean the Snyders are considering selling the entire franchise or a minority stake?
The Commanders later clarified, “We are exploring all options,” according to NFL Network’s Ian Rapoport.
The news of a potential sale comes just two weeks after Colts owner Jim Irsay proclaimed “there is merit” to remove Dan Snyder from ownership following a slew of workplace misconduct accusations that have led to several investigations.
An ESPN report stated Snyder had boasted he had “enough dirt” on other owners, league executives, and commissioner Roger Goodell if owners tried to remove him. Still, Irsay believes the league could get the 24 owners’ votes required to remove Snyder.
In the past two years, Snyder and the team have been investigated twice by the NFL, the U.S. House Oversight Committee, and the District Attorney’s Office of Washington, D.C.
Dan Snyder previously maintained he would never sell the team even after Irsay’s recent comments, stating, “There is no reason for the Snyders to consider selling the franchise. And they won’t.”
Snyder had a similar conviction about never changing the team name before its change in June 2020.
Exploring all options could still lead to a sale of minority stakes. Snyder acquired complete control of the Commanders after buying out minority owners Fred Smith, Dwight Schar, and Robert Rothman.
