Although a statement from Dan Snyder insisted he would never sell his franchise, he and wife Tanya have hired Bank of America Securities to “consider potential transactions,” the Commanders announced Wednesday (Twitter link). Addressing whether this would regard a partial or full sale by the Snyders, a Commanders spokesperson said (via Ian Rapoport of NFL.com, on Twitter), “We are exploring all options.”
“Dan and Tanya Snyder and the Washington Commanders announced today that they have hired BofA Securities to consider potential transactions,” the statement reads. “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.”
Snyder, who has owned the Washington franchise since 1999, has been under several investigations in recent years. A House Oversight Committee probe and another NFL inquiry into his franchise’s alleged workplace misconduct and financial improprieties represent the latest scandals engulfing the embattled owner and his team.
Snyder has received at least four calls from interested buyers, according to Forbes (via Pro Football Talk’s Mike Florio). The Broncos set a new market recently by shattering the American sports record with a $465 billion price. Snyder purchased the Washington franchise for $750M 23 years ago.
It is not known if the Snyders will follow through with a sale, but this development comes shortly after one of Dan Snyder’s peers — Colts owner Jim Irsay — went public about 24 votes potentially being there to remove Snyder as Commanders owner. Dan soon sent a letter to the NFL’s other owners ensuring them he has not hired firms to investigate them — an explosive charge levied against the Washington owner last month — and this came shortly after a statement from the Snyders that confirmed no sale would ever be considered. Amid steady turmoil, it now appears the Snyders are considering it.
No vote has ever passed to remove an NFL owner from his or her post, but scandals have led owners to sell. This happened most recently with the Panthers, who saw Jerry Richardson sell his franchise to David Tepper amid workplace misconduct allegations. As Dan Snyder goes through his latest batch of investigations, Phoenix Suns owner Robert Sarver — recently suspended after a lengthy investigation — announced his intention to sell both his NBA and WNBA (Phoenix Mercury) franchises.
While Washington had tumbled off its perch as a Super Bowl contender during the mid-1990s, the franchise’s reputation has taken steady hits since Snyder’s 1999 acquisition. The team, which made five Super Bowl appearances from 1972-1991, has not made consecutive playoff berths under Snyder, and countless stories of misconduct, producing the investigations, have followed. Routine calls for Snyder to sell have emanated from FedEx Field for years.
An NFL investigation that wrapped in 2021 led to Snyder being fined $10M and a de facto suspension, which left Tanya in charge of the franchise’s day-to-day responsibilities. Dan Snyder denied he was ever suspended, and a recent statement insisted he was free to resume his regular duties with the team. The NFL’s latest investigation is slated to produce a written report — after the previous probe did not — while “further action” is on tap once the Oversight Committee’s investigation concludes. Snyder once said he would never change the name of his team, which dropped the Redskins moniker after years of outside pressure. After insisting he would not sell, will he change his mind on this front as well?
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