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The Washington Commanders stated two weeks ago that “there is no reason for the Snyders to consider selling the franchise.”
Apparently, Commanders owner Dan Snyder and his wife, co-CEO Tanya Snyder, found one as they announced Wednesday that Bank of America has been retained “to consider potential transactions.”
“We are exploring all options,” a Commanders spokesperson told Front Office Sports.
The news of a potential sale comes after Indianapolis Colts owner Jim Irsay told reporters at the NFL owners meetings on Oct. 18 that “there is merit to removing” Snyder amid five ongoing investigations into the team.
Sources told FOS that a full sale of the franchise is more than just a possibility.
The Commanders are valued at $5.6 billion, but it’s expected that the team would fetch at least $6 billion.
- That sum would surpass the sale of Chelsea FC ($5.3 billion) for the most ever paid for a sports franchise. The NFL and stateside record is currently Rob Walton’s purchase of the Denver Broncos for $4.65 billion earlier this year.
- Snyder led an ownership group that purchased the Commanders for about $800 million in 1999.
- Last year, NFL owners approved a debt waiver that allowed Snyder to pay close to $1 billion to buy out the 40% of the franchise he didn’t already own.
Who’s Got Next?
If all or a majority stake in the team changes hands, multiple sources told FOS that there’s one leading candidate to buy it: Amazon founder Jeff Bezos.
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