The Washington Commanders may soon be for sale as owners Dan and Tanya Snyder said they have hired Bank of America Securities to “evaluate a potential transaction.”
Posted at 12:09 p.m.
The team announced the news on Wednesday. Asked if the Snyders would agree to sell all or only a portion of the team’s shares, a spokesperson replied that “all options will be evaluated”.
The value of Commanders is estimated at US$5.6 billion, according to Forbes. This ranks the team sixth among the 32 NFL teams.
The team comes under scrutiny as the NFL and the US Congress investigate the potentially toxic work environment and financial mismanagement.
PHOTO PATRICK SEMANSKY, ASSOCIATED PRESS ARCHIVES
Dan Snyder
At the most recent league meeting, Indianapolis Colts owner Jim Irsay said removing Snyder from the Washington roster might be warranted. Snyder has been accused of sexual harassment and developing a culture in the workplace where women are often harassed or humiliated.
It would take the approval of 24 of the 31 other owners to dismiss Snyder, unless he voluntarily opts out of the team he renamed the Commanders earlier this year.
Snyder bought the team in 1999. It has since won just two playoff games.
After falling at loggerheads with previous minority owners, the Snyder family bought their shares of the team last year to take full control of the team.