Dan Snyder Hires Bank to Explore Sale of Washington Commanders

Daniel and Tanya Snyder, the embattled owners of the Washington Commanders, said they had hired bankers to explore potentially selling the team they have owned since 1999.

In a brief statement, the Snyders said they had hired BofA Securities, which handles the sales of many of the biggest sports teams, to “consider potential transactions.”

Reached for comment on whether the Snyders would seek to sell the entire team or a minority stake, a Commanders spokesperson said, “We are exploring all options.” In 2021, Snyder bought the 40 percent of the franchise that he did not own from three limited partners. He and his family now own nearly all the shares in the team.

Snyder has been under growing pressure from politicians, former employees and even fellow N.F.L. owners because of the state of his team, which ranks last in attendance in the league and has been investigated for numerous allegations of sexual harassment made against team executives and Snyder himself. A former employee also accused the team of financial malfeasance, a claim that was submitted to the Federal Trade Commission.

Article source: https://www.nytimes.com/2022/11/02/sports/football/dan-snyder-washington-commanders-sale.html