ASHBURN, Va. — Washington Commanders co-owners Dan and Tanya Snyder announced that they have hired Bank of America Securities to explore potential transactions involving the team.
A statement from the team did not specify what those transactions might be, whether it was the sale of the team or they were pursuing minority investors.
A Commanders spokesperson said the team was exploring all options.
“The Snyders 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,” the team said in the statement.
NFL spokesman Brian McCarthy said in a statement Wednesday that, “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 (24 of 32 teams).”
Attorneys Lisa Banks and Debra Katz, who represent over 40 former employees of the Washington franchise, welcomed Wednesday’s news.
“Today’s news that Dan and Tanya Snyder are exploring selling the Washington Commanders is a good development for the team, its former and current employees, and its many fans. We will have to see how this unfolds, but this could obviously be a big step towards healing and closure for the many brave women and men who came forward,” they said in a statement.
Congress continues to investigate Dan Snyder for the workplace culture created during his ownership. The NFL, led by attorney Mary Jo White, also is investigating Snyder for a second time, stemming from an allegation of sexual misconduct. The first investigation resulted in a $10 million fine of the organization.
There also are investigations by the attorneys general in Virginia and Washington, D.C., regarding financial improprieties by the organization, which the team has denied.
Two weeks ago the Commanders released a statement saying Snyder would never sell the franchise, in response to Indianapolis Colts owner Jim Irsay saying at the NFL’s fall meeting in New York that there was merit to consider whether they should vote him out as owner.
The league requires 24 of 32 owners to approve such a vote, which never has been done at the NFL level.
At Washington’s home game vs. the Green Bay Packers on Oct. 23, some fans started to boo when Tanya Snyder briefly appeared on the video board during a PSA for breast cancer and started chanting, “Sell the team!”
Commissioner Roger Goodell told reporters at the fall meeting that he had “little to no discussion” with ownership about the Dan Snyder issue, in large part because White’s investigation is not complete.
McCarthy on Tuesday said that White’s investigation remains ongoing and there’s no update on a timeline for its completion.
A recent ESPN investigation detailed the matter, and how Snyder has told associates he’s used private investigators and other sources to gather dirt on fellow owners, coaches and executives.
Snyder sent a letter to fellow NFL owners addressing the ESPN investigation and denying he ever used private investigators on owners or Goodell.
Snyder has owned the team since 1999, when he paid $800 million. He gained full control of the franchise late in 2020 when he bought out his three minority investors. The franchise is now worth $5.6 billion, according to Forbes.
ESPN’s Adam Schefter contributed to this report.
