Washington Commanders’ beleaguered owner Dan Snyder has retained BofA Securities, a division of Bank of America, with the intention of selling the team, according to Forbes. The Commanders said in a statement that “Dan and Tanya Snyder and the Washington Commanders announced today that they have hired BofA Securities to consider potential transactions.” It is not clear if “transactions” means a full sale or a minority stake in the team. Recently, Forbes valued the Commanders at $5.6 billion.
A spokesperson for the Commanders told ESPN NFL reporter Adam Schefter “we are exploring all options.”
EXCLUSIVE: Dan Snyder has retained BofA Securities to sell the Washington Commanders. https://t.co/YLyXvmViwE pic.twitter.com/cCCqwWVPie
— Forbes (@Forbes) November 2, 2022
Commanders announced that Tanya and Dan Snyder have hired Bank of America Securities to explore the sale of their franchise. pic.twitter.com/segaWzHyQP
— Adam Schefter (@AdamSchefter) November 2, 2022
As @MollyQerim pointed out, Dan Snyder once said he never would change the name of the franchise. Then, he did.
He has said he wouldn’t sell the team. Now, as one Commanders spokesperson texted, “We are exploring all options.”
— Adam Schefter (@AdamSchefter) November 2, 2022
At the NFL owners’ meeting in New York on Oct. 18, Indianapolis Colts’ owner Jim Irsay told assembled media that his fellow owners should consider voting Snyder out and that there is “merit to remove (Snyder) as owner.”
When asked about Snyder’s situation at the owners’ meeting, NFL commissioner Roger Goodell said the league is waiting on the results of an ongoing investigation into the team’s toxic culture led by investigator Mary Jo White. It is unclear when the investigation will conclude and when, how and if the findings will be announced.
