Commanders sale reportedly undergoing first round of bidding

The sale of the Washington Commanders appears to be moving forward. The first round of the bidding process closes at the end of this week, according to CBS Sports’ Jonathan Jones.

On Nov. 2, the Commanders announced Dan Snyder and his wife Tanya hired Bank of America Securities to explore all options in a potential sale of the Washington franchise.

It’s unclear if the Snyders are seeking to sell all, a majority or a minority of their stakes in the Commanders, and it’s uncertain if the team will be sold.

Jones reports league sources estimated the Commanders could sell between $5.5 billiion and $6.5 billion. The mark would be an NFL record, surpassing the $4.65 billion the Denver Broncos sold to the Walton-Penner group earlier this year.

The potential sale comes as Dan Snyder is under multiple investigations for allegations of sexual harassment, workplace misconduct and financial improprieties.

The U.S. House Oversight Committee; the District Attorneys of Virginia, Maryland and Washington, D.C.; and the NFL (twice) have investigated Dan Snyder and the Commanders in the past two years.

Amazon founder Jeff Bezos is among those reportedly interested in buying the Commanders, partnering with rap mogul Jay-Z.

Media mogul Byron Allen is reportedly also interested in making a bid.

Snyder purchased the Washington franchise in 1999 for $800 million. The sale was then the largest in sports history. Snyder has drawn the ire of media and fans since. The Commanders franchise has struggled on and off the field under Snyder.

The latest string of allegations and investigations has seemingly been the final straw for many. Embattled Indianapolis Colts owner Jim Irsay was the first NFL owner to speak out against Snyder during October’s league meetings. Irsay said there was “merit” to removing Snyder from the league.

Irsay changed his tune during last week’s league meetings. However, the pot has already been stirred for Snyder voluntarily to bow out.

NFL commissioner Roger Goodell said he had no expectations involving the potential sale of the Commanders, referring back to the team’s statement in November.