Are Washington Commanders For Sale?
ASHBURN, Va. -- Washington Commanders co-owners Dan and Tanya Snyder announced that they have hired Bank of America Securities to explore potential transactions involving 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 team said in the statement.
NFL spokesman Brian McCarthy said in a statement Wednesday that, "any potential transaction would have to be presented to the NFL Finance Committee for review and require an affirmative vote by three quarters of the full membership (24 of 32 teams)."
Attorneys Lisa Banks and Debra Katz, who represent over 40 former employees of the Washington franchise, welcomed Wednesday's news.
"Today's news that Dan and Tanya Snyder are exploring selling the Washington Commanders is a good development for the team, its former and current employees, and its many fans. We will have to see how this unfolds, but this could obviously be a big step towards healing and closure for the many brave women and men who came forward," they said in a statement.
Congress continues to investigate Dan Snyder for the workplace culture created during his ownership. The NFL, led by attorney Mary Jo White, also is investigating Snyder for a second time, stemming from an allegation of sexual misconduct. The first investigation resulted in a $10 million fine of the organization.
Commissioner Roger Goodell told reporters at the fall meeting that he had "little to no discussion" with ownership about the Dan Snyder issue, in large part because White's investigation is not complete.
Snyder has owned the team since 1999, when he paid $800 million. He gained full control of the franchise late in 2020 when he bought out his three minority investors. The franchise is now worth $5.6 billion, according to Forbes.