Is Dan Snyder really selling the Washington Commanders?
Forbes just dropped a bombshell report about Daniel Snyder and the Washington Commanders. On Wednesday morning, they broke the news that Snyder has hired Bank of America to facilitate a sale of the franchise.
Snyder has come under fire in recent years for refusing to change the name of his franchise and for multiple workplace misconduct and sexual harassment investigations. More recently, there has been speculation that fellow NFL owners could vote to remove him as the owner of the Washington franchise.
Snyder has been defiant throughout all of these issues, so this is an abrupt change of course. The NFL is currently conducting its own investigation, in addition to a congressional committee probe into the team’s history of workplace misconduct.
It’s possible that investigation has uncovered enough to pressure Snyder into an early sale, but no details (including a timeline for its completion) are known at this time.
According to the report from Forbes:
According to someone familiar with the process, Snyder already has at least four calls from groups interested in buying the team. Snyder and his bankers are exploring all options and a transaction could be for the entire NFL team or a minority stake.
Neither the Commanders or Bank of America, which has handled such notable team sales as the purchase of the Los Angeles Clippers by Steve Ballmer in 2014, would comment.
Complicating matters for Snyder is that the Commanders badly need a new stadium and do not have any current plans to build one. That could hurt the value of the organization in negotiations.
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Mike Maher is the editor and publisher of The Birds Blitz and Juiced Ball Era. Follow him on Twitter @mikeMaher and @TheBirdsBlitz and check out his Eagles news archive for all of his latest stories about the Eagles and the NFL.
