Dan Snyder has hired Bank of America to explore selling the Washington Commanders, either outright or a portion of the team’s ownership, Forbes reported Wednesday.
Forbes wrote that Snyder “has at least four calls from groups interested in buying the team.” The team didn’t comment to Forbes but issued a story that confirmed it hired the bank to “consider potential transactions” after its story appeared:
Statement from the @Commanders, confirming the Snyders have hired Bank of America to “consider potential transactions”. pic.twitter.com/LxNoM4EDCM
— Albert Breer (@AlbertBreer) November 2, 2022
ESPN reported last month that other NFL owners were inclined to force Snyder to sell. Snyder, in turn, ESPN reported, had hired investigators to acquire “dirt” on his fellow owners. The team faces multiple investigations into its allegedly toxic workplace culture and has been accused of hiding revenue from the rest of the league. Snyder bought out the team’s minority owners last year following an increasingly bitter battle over the team’s direction.
The Commanders play in one of the NFL’s worst stadiums—Taylor Swift’s stadium tour plans to skip it entirely—and ESPN reported the team has botched several opportunities to build a new stadium. A partial sale of the team could help to finance construction of a new venue.
This story will be updated.
Andrew Beaujon joined Washingtonian in late 2014. He was previously with the Poynter Institute, TBD.com, and Washington City Paper. He lives in Del Ray.
