Daniel Snyder makes major announcement about plans for Commanders
Daniel Snyder has repeatedly said that he will not considering selling the Washington Commanders, but it sounds as though the billionaire may have changed his mind.
The Commanders issued a statement on Wednesday announcing that Dan and Tanya Snyder have hired Bank of America Securities to “consider potential transactions.” While the statement was vague, it likely signals that the Snyders are looking into selling part or all of their franchise.
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
News of the Snyder family retaining Bank of America Securities was first reported by Mike Ozanian of Forbes on Wednesday morning. That report stated that Snyder and his financial backers are exploring all options, including selling the entire Commanders franchise. Snyder gained 100 percent control of the team in March 2021 when he bought out his minority partners.
A Commanders spokesperson confirmed to Ian Rapoport of NFL Media that Snyder is “exploring all options.”
Is owner Dan Snyder considering a sale of the entire franchise or just a piece?
"We are exploring all options." — A #Commanders spokesperson to me.
— Ian Rapoport (@RapSheet) November 2, 2022
That is significant. The Commanders have been the subject of multiple investigations and infinite scrutiny, but this is the first time Snyder has publicly acknowledged that he might be willing to sell.
Indianapolis Colts owner Jim Irsay said at the NFL owners meetings two weeks ago that he believes Snyder should be removed as a team owner. The remarks prompted an angry response from the Commanders.
Attorney Mary Jo White investigated Snyder and Washington over workplace misconduct allegations, which resulted in a $10 million fine for the organization. A second investigation into an allegation of sexual misconduct is still ongoing.
Snyder could not be pushed out unless 24 of 32 owners voted to remove him. It does not sound like the league would have that many votes as of now, but they may not need them.