Commanders owners Dan and Tanya Snyder hire firm to explore potential sale of team
Dan Snyder #DanSnyder
The Washington Commanders could soon be for sale, after owners Dan and Tanya Snyder said they have hired Bank of America Securities to “consider potential transactions.”
The team announced the decision Wednesday to enlist the investment bank’s services. Asked if the Snyders were considering selling part or all of the team, a spokesperson said, “We are exploring all options.”
The Commanders are worth an estimated $5.6 billion, according to Forbes. That ranks sixth among the league’s 32 teams.
The team said in a statement: “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.”
Dan Snyder handed control of the team to his wife last year and was fined $10 million in the wake of an NFL investigation that found a pattern of sexual harassment in the organization from 2006 to 2019.
The Snyders bought the team in 1999, and it has won just two playoff games since.
After feuding with previous minority owners, the Snyder family bought out their shares of the team last year to take full control of the franchise.
Times staff writer Sam Farmer contributed to this report.
This story originally appeared in Los Angeles Times.