Thursday September 21, 2023
The Best Employers in Sports Survey is Now Open!

Dan Snyder Is Exploring Sale of Washington Commanders

  • Snyder and his wife, co-CEO Tanya, announced on Wednesday that they have hired Bank of America “to consider potential transactions.”
  • A source with knowledge of the situation told Front Office Sports a full sale of the team remains more than a possibility.
Geoff Burke-USA TODAY Sports
Front Office Sports Today

Could Promotion-Relegation work in College Football?

The proposal aims to create an exciting media product while reducing travel for non-football sports.
Listen Now
September 21, 2023 | Podcast
Copy Link
Link Copied
Link Copied

The Washington Commanders are headed for a possible sale. 

Commanders owner Dan Snyder and his wife, co-CEO Tanya Snyder, announced in a news release on Wednesday that they have hired Bank of America “to consider potential transactions.”

While that could mean a partial sale, a source with knowledge of the situation told Front Office Sports a full sale of the team remains more than a possibility amid five active investigations and given the overall tumult in Dan Snyder’s 23-plus years as owner.

“He had no choice,” one source told FOS.

In their statement, the Snyders said they “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.”

“We are exploring all options,” a Commanders spokesperson told FOS.

Dan Snyder

The Downward Spiral of the Washington Commanders

Washington has lost the foothold it established pre-Snyder.
October 16, 2022

The Snyders own the entire team that Forbes values at $5.6 billion.

But the team is expected to fetch closer to $6 billion, even if it has sunk from one of the NFL’s prestige franchises into mediocrity and its outdated stadium needs to be replaced.

If a majority stake is sold, multiple sources told FOS that there’s a leading candidate: Amazon founder Jeff Bezos.

FOS first reported Bezos’ talks to acquire a chunk of the team in February 2021, and Bezos appears to still be interested.

The news of a potential sale comes two weeks after Indianapolis Colts owner Jim Irsay told reporters at the NFL owners meetings that “there is merit to removing” Snyder. While owners had anonymously told FOS and other outlets the same thing, Irsay was the first NFL owner to publicly state such.

“I just think that once owners talk amongst each other they will arrive at the right decision,” Irsay said. “Unfortunately, that’s the road that we need to go down.”

It’d take 24 owners to vote to approve Snyder’s removal, which could become a messy process with potential litigation involved. Multiple owners told FOS that the easiest path toward new ownership of the Commanders would be pressuring Snyder to offload the team he purchased for $800 million in 1999.

Twenty-four owners are also needed to approve a sale of the team under the NFL’s constitution and bylaws.

“Any potential transaction would have to be presented to the NFL Finance Committee for review and require an affirmative vote by three quarters of the full membership,” NFL spokesperson Brian McCarthy said in a statement to FOS and other outlets.

The announcement by the team comes as results of the House Oversight Committee’s investigation and the NFL’s outside investigation are expected to be released in the coming weeks. The attorneys general in Virginia, D.C., and Maryland also have active probes into the team’s alleged financial irregularities.

Former SEC chief Mary Jo White is leading the NFL’s current investigation.

“Mary Jo White is continuing her review,” McCarthy said. “We have no update on a timeline.”

While Bank of America would appear to be an odd choice given the financial institution isn’t a go-to for such transactions, it is one of the main banks utilized by Snyder. Bank of America helped Dan Snyder pay close to $1 billion to buy out the 40% of the team he didn’t already own last year.

Copy Link
Link Copied
Link Copied

What to Read

Fanatics is buying auction marketplace PWCC.

Fanatics Nabbing WWE Rights In Latest Win Over Panini

Fanatics will take over WWE's trading card rights.

RFK Stadium Bill Advances in Congress

Congress' vote is the first step towards returning the NFL to D.C.

Can Amazon Keep Up NFL Viewership Boost After Record Week 1?

The San Francisco 49ers and New York Giants face off on Thursday night.
Dallas Cowboys quarterback Dak Prescott is tripped up by New York Jets defensive end Solomon Thomas in the second quarter at AT&T Stadium.

NFL Viewership Sees 2% Increase in First Two Weeks of 2023 Season

The NFL is experiencing its highest viewership since 2018.
podcast thumbnail mobile
Front Office Sports Today

Could Promotion-Relegation work in College Football?


Featured Today

Teams without secured venue situations could be left out of a potential XFL-USFL merger.

XFL-USFL Merger Could Drop Teams, Change League Name

Teams without secured venues could be cut from a XFL-USFL merger.
September 21, 2023

Rupert Murdoch's Exit Leaves Lasting Fox Sports Legacy

Rupert Murdoch steps down as chairman of Fox Corp. and News Corp.
Could ESPN lose events such as the NBA Finals if it sold ABC.
September 21, 2023

Selling ABC Poses Billion-Dollar Dilemma for Disney and ESPN's Future

Losing ABC would create complications as ESPN enters NBA rights negotiations.
Boise State Broncos running back Ashton Jeanty (2) runs the ball against the North Dakota Fighting Hawks during the first half at Albertsons Stadium.
September 20, 2023

The First Official Proposal for Promotion-Relegation In College Football

Realignment is forcing Group of 5 schools to rethink their structure.


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations

Andlauer Completes Record $950M Senators Acquisition

Long-awaited pact follows three months of due diligence, league review
A view of the Spurs club badge on the exterior of Tottenham Hotspur Stadium in London.
September 21, 2023

Tottenham, Valued At $2.8B, Says It's Open To Stake Sale

The club's chairman says new minority investors could come on board.
September 21, 2023

England Women’s Team Resolves Pay Dispute After WWC Success

Agreement arrives a month after the end of the 2023 Women's World Cup
September 20, 2023

Royals Miss Self-Imposed Deadline To Select Stadium Site

Ongoing discussions with Jackson, Clay Counties prompt timetable shift
September 20, 2023

Chelsea Gets $500M For Stadium Projects, Club Acquisitions

The Premier League club is receiving crucial new investment.
September 19, 2023

Rays Eye Much More Stable Future With Stadium Deal

Ballpark deal ends years of relocation rumors
September 18, 2023

Wisconsin Legislators Make Renewed Pitch To Keep Brewers

Republican-led effort looks to retain MLB club in the state
September 18, 2023

Delay Around Brady's Raiders Stake Sparks Questions

Tom Brady's purchase of a stake in the Raiders is still pending.