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Washington Commanders owners Dan and Tanya Snyder hire Bank of America 'to consider potential transactions'

On3 imageby: Andrew Graham11/02/22AndrewEdGraham
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Jonathan Newton/The Washington Post via Getty Images

Washington Commanders owners Dan and Tanya Snyder have brought on Bank of America Securities to help facilitate potential transactions that the Snyders are considering, they said in a release on Wednesday.

The release came shortly after a Forbes story breaking the news that the embattled owners of the Commanders are in the early stages of potentially selling part — or all — of the NFL franchise.

“Dan and Tanya Snyder and the Washington Commanders announced today that they have hired BofA Securities to consider potential transactions.”

Snyder originally bought the franchise — at that point in time adorned with a slur toward indigenous Americans as a nickname — for a then record-setting $800 million in 1999. In light of Wednesday’s news, Front Office Sports tweeted that Forbes had recently valued the Commanders franchise at $5.6, meaning a full sale of the team would be the most expensive in the history of sports.

Pressure both from the public and fellow owners for the Snyders to vamoose from the league has grown in years and ratcheted up in recent weeks. Indianapolis Colts owner Jim Irsay has spoken publicly about how perhaps enough owners wish to eschew the owners of the lately scandal-ridden Washington franchise.

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A number of investigations in recent years have apparently shed light on a toxic workplace — particularly for women — under the ownership of the Snyders, with the NFL infamously not generating a written report about the investigation into workplace issues done by lawyer Beth Wilkinson.

For their part, despite seemingly eyeing the exits, the Snyders were steadfast in their release that they remain committed to the franchise.

“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 release said, in conclusion.