Dan Snyder To Consider Potential Sale Of Washington Commanders

Updated at 2:30 p.m. on Wednesday.

ASHBURN, VA — Dan Snyder has hired Bank of America Securities to consider a potential sale of the Washington Commanders, the NFL franchise said Wednesday.

The team's statement said Bank of America would consider "potential transactions." This could include selling a minority stake of the Commanders or the entire franchise.

"We are exploring all options," a Commanders spokesperson told several reporters.

Dan Snyder and his wife, Tanya, have owned 100 percent of the Washington Commanders since they bought out the minority owners in 2021.

"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 statement said.

Bank of America has handled the sale of major sports franchises in the past. In 2014, the bank helped facilitate the sale of the Los Angeles Clippers to Steve Ballmer.

Snyder has received calls from at least four people who are interested in buying the franchise, Forbes reported.

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In August, Forbes estimated that the Commanders were worth $5.6 billion, ranking sixth among the NFL's 32 teams. Snyder purchased the Commanders in 1999 for $800 million after the death of former owner Jack Kent Cooke.

Snyder's tenure has been embroiled with controversy, especially since 2020. Most recently, a fellow NFL owner told reporters the league needed to consider removing Snyder after accusations of sexual misconduct, financial impropriety, and a hostile workplace.

Snyder is currently being investigated by the NFL and the House Committee on Oversight and Reform. The results of both investigations are still pending.

Lisa Banks and Deborah Katz represent more than 40 former Commanders employees who testified in an investigation into Snyder and the franchise.

"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," Banks and Katz said in a statement. "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."

Fans and sports writers approached the news of a possible sale with elation. Jake Russell is a writer for The Washington Post.

"For the fanbase, the Snyders selling 100% of the Commanders would essentially be the next best thing to winning a Super Bowl given the state of the franchise," Russell wrote in a tweet.

Al Galdi is a podcast host who focuses on D.C. area sports, including the Commanders. "Maybe the single greatest piece of news in Washington, D.C. sports history," Galdi wrote after the news broke.

The once-storied franchise now draws fewer fans than any other NFL team, last won a playoff game after the 2005 season, and its last Super Bowl win and appearance was in January 1992 after the 1991 season.

Eric Sully writes about the Commanders on Twitter and has amassed 23,00o followers. "I truly believe that a parade of Snyder selling would exceed that of the Nats or Caps recent championship parades," he said.

Last month, an ESPN report said Dan Snyder has "dirt" on other NFL owners and Commissioner Roger Goodell that would thwart any move to force Snyder to sell the embattled team.

Another recent report from the Washington Post claimed that other team owners are considering removing Snyder from the league.