Washington Commanders Owner Dan Snyder Is Exploring A Possible Sale of the Team
Snyder has hired Bank of America to assist with the process.
The NFL’s Washington Commanders may have a new owner in the near future. Per a press release from the organization, current owner Dan Snyder has hired US Bank to explore “potential transactions.” Forbes valued the team at $5.6 billion USD in its annual list of NFL team valuations, making it the sixth most valuable franchise in the league — and an unnamed source has told CNBC that a sale of the team could fetch up to $7 billion USD.
Snyder has been in hot water with both the NFL and the US Government’s House Oversight Committee for a history of sexual harassment and financial misconduct through the organization, but he isn’t being forced to sell the team by the NFL. The league said in statement that their review of the organization is still undergoing and does not currently have a timeline, while also noting that any sale would both have to go through its finance committee as well as be approved by at least 24 of the league’s 32 teams.
Commanders fans have been calling for Snyder to sell the team for years: he’s owned the franchise since 1999, and since then they’ve made the playoffs six times with zero Super Bowl or conference championship appearances. Apart from largely lackluster play on the field, and initial resistance to changing the team’s name from the Washington Redskins, a moniker widely denounced as perpetuating racist stereotypes, Snyder has also drawn the ire of the Washington faithful for failing to properly upgrade FedEx Field, the team’s home stadium.
Four fans are currently suing the team for injuries sustained in a January 2022 incident where a railing surrounding the field collapsed — causing several fans to fall 5-10 feet onto concrete and each other, narrowly avoiding landing on quarterback Jalen Hurts of the visiting Philadelphia Eagles, and on gamedays, Twitter is often full of fans complaining about everything from burst pipes to high concession prices. Snyder also received backlash in November 2021, when, days after reports of front office misconduct first leaked, the organization held a hastily-assembled ceremony to honor the late Sean Taylor, one of the franchise’s most popular players (Taylor played for the team from 2004 to 2007 before he was murdered).
Snyder has also faced pressure from a fellow owner, Jim Irsay of the Indianapolis Colts, who said in October’s NFL owner meetings that there was “merit to remove” Snyder following the allegations. The Commanders responded with a statement that said Snyder would not sell the team — but it appears as if he may be changing his mind.
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