Commanders’ Dan Snyder hires bank as first step to possible team sale

Washington commanders Owner Dan Snyder has hired Bank of America to consider a possible sale of the NFL franchise, the organization said Wednesday.

Snyder and his family control all of the team’s shares after the minority partners were bought out in March 2021.

Most recent transaction in the NFL came in August when a group led by Walmart heir Rob Walton acquired the Denver Broncos for a record $4.6 billion.

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Team co-owner Dan Snyder speaks during the announcement of the Washington Football Team's name change to the Washington Commanders at FedExField on February 2, 2022 in Landover, Maryland.

Team co-owner Dan Snyder speaks during the announcement of the Washington Football Team’s name change to the Washington Commanders at FedExField on February 2, 2022 in Landover, Maryland.
(Photo by Rob Carr/Getty Images)

The Washington Commanders released a statement saying, “The Snyders remain committed to the team, to all of its employees and to its countless fans, to bring the best product to the field and continue to work to set the gold standard for NFL jobs.”

Snyder has been contacted by several interested parties, according to Forbes.

In the past, Snyder has been bullish in his stance, unwilling to sell the team and unwilling to change the team’s name.

In February, the franchise unveiled its new name, 18 months after dropping its previous name due to growing pressure over the name and logo that were created in the 1930s.

TANYA SNYDER OF COMMANDERS WORTH VERIFICATION AFTER CANCELLED REDSKINS NAME

Washington Commanders owners Tanya Snyder (left) and Dan Snyder on the field prior to the Dallas Cowboys' 25–10 loss to the Washington Commanders at AT&T Stadium on October 2, 2022 in Arlington, Texas.

Washington Commanders owners Tanya Snyder (left) and Dan Snyder on the field prior to the Dallas Cowboys’ 25–10 loss to the Washington Commanders at AT&T Stadium on October 2, 2022 in Arlington, Texas.
(John McDonnell/The Washington Post via Getty Images)

Snyder was criticized and faced pressure to sell the team.

Congress began investigating the team in October 2021 when allegations of sexual harassment and workplace misconduct surfaced. then-Raiders head coach John Gruden resigned after leaking emails with then Commanders team president Bruce Allen.

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It’s unclear if Snyder intends to sell a minority stake in the team, or if he’s looking to sell the entire franchise.