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Virginia has plans to lure the Washington Commanders across state lines.
Gov. Glenn Youngkin plans to pitch a new stadium to the Commanders’ next owner. The team’s headquarters and training facility is in Ashburn, Virginia.
In November 2022, current team owner Dan Snyder and his wife, co-CEO Tanya Snyder, hired Bank of America “to consider potential transactions” for the franchise amid five active investigations into alleged workplace misconduct and financial irregularities.
“I will look out for Virginia taxpayers first and foremost, but I think there’s a real opportunity here,” Youngkin said.
- The Commanders’ current home stadium, FedEx Field, opened in 1997 in Summerfield, Maryland.
- The team’s lease at the facility runs through 2027.
- Last year, it planned a new $3 billion stadium in Virginia that included a “mini-city.”
- The proposed project failed to garner the government support needed.
An NFL stadium in Virginia could prove to be an economic boost for the Old Dominion. One study found that a new stadium and surrounding development could bring in $24.7 billion in direct economic activity by 2033.
Changes Ahead
The Commanders have failed to reach the NFL postseason the last two years. Snyder purchased the Commanders for $800 million in 1999, and the team was worth $5.6 billion as of August 2022, per Forbes.
Jeff Bezos has emerged as a potential bidder for the Commanders, along with Fenway Sports Group — the owner of the Boston Red Sox, Liverpool, and Pittsburgh Penguins.
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