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 $750MM 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 which 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 in 2018. 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 Dan Snyder being fined $10MM and a de facto suspension, which left Tanya Snyder in charge of the franchise’s day-to-day responsibilities. Dan 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. No timetable exists regarding the NFL’s latest probe, per Mike Garafolo of NFL.com, minimizing the notion this sale buzz was connected to Mary Jo White’s report dropping soon (Twitter link).
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?
missed a decimal point in that sale price for the Broncos.
I’m a Giants’ fan and certainly don’t want Washington to be a great team, but they are a mess and Snyder has been the most toxic owner in pro sports since Harold Ballard (Maple Leafs). Hopefully they can sell to a group that will provide stability and some class, as the fans deserve it. That’ll just leave Jerry Jones out there as the division’s sore thumb.
I get divisional hate with teams but singling Jones is funny. Jeffrey Lurie was connected to the massage-gate with Robert Kraft. These billionaires are a different breed regardless of what is printed or hidden.
True. Forgot about that one. They’re all rich scum. Some of the scum is public, much stays private. But Snyder is egregious.
I just don’t like Jerr-uh. Still living off his one tremendous move (the Herschel Walker deal) after all this time.
Good
Elon Musk got any money left over? He seems like he’d be a perfect NFL owner. He gives his victims ponies.
Elon wouldn’t open up his books to that much scrutiny. Same reason he couldn’t just buy a piece of Twitter and join the board like he intended initially.
Elon Musk as a team owner would be a hilarious disaster.
Musk could help the NFL expand to the Romulan Empire and Klingon home world so he would probably have the support of Roger Goodell.
“…and continuing the work to set the gold standard for workplaces in the NFL.”
The insane chutzpah of that statement…
Might as well just claim to be 814 time Super Bowl Champs, too, while you’re at it.
+1 not just for the sentiment, but for an outstanding and proper use of ‘chutzpah’.
“What are ‘they’ doing here?”
“They’re ‘selling’, Mortimer!”
“Why that’s ridiculous… Unless that crop report…”
“God help us!”
“We’ll never change the name,” he said. “It’s that simple. NEVER — you can use caps.”
Never going to sell?…Okay, Dan.
Commanders is about as stupid a name for a team as the morons in the White House.
Professional Sport owners aren’t necessarily morally responsible they buy franchises for potential profit.
Being a totally unscrupulous lawsuit magnet is bad business in addition to mad morally, but that’s the previous moron in the White House.
Setting aside the political statement, I would hope a new owner would rename the team (not adopt the previous name, mind you, just find something more inspiring than Commanders).
They should have gone with RedHogs.
“that they have hired BofA Securities to consider potential transactions”
Have they considered BofA deez nuts?
They should have named the team the Washington Warriors.
So Danny Boy only needs to cover his dept waiver and stadium down payment. The dept waiver pretty much means the other owners are not going to provide funds and Virginia, Maryland, and D.C. have all rejected Danny.
I would say this is a toe in the water to find a minority owner but with Jerry Jones no longer throwing support Snyders way. I also think the “Don’t F@(K with me” was not regarding the Commissioner.
So how soon can we expect the Commanders to be listed as an Amazon Prime deal?
There’s nothing wrong with “Commanders” it’s in line with names like Packers, Giants, Titans, etc. People are used to those names so they don’t seem weird.
“Commanders” smacks of MLS-type club names.
Red Wolves would have been great and much more marketable, that’s an easy one for mascots and stuffed animals to sell to kids.
The Packers and Giants were named 100 years ago, its a little different. Titans? meh
Snyder has been an embarrassment to the league, and is hurting business.
It shouldn’t be hard to find a better steward for the DC franchise.