Dan, Tanya Snyder Retain Bank of America Securities to Explore Selling Commanders

The Washington Commanders could be for sale, though it's unclear if the entire franchise is on the market or if a portion would be sold to a minority investor.

Team owners Dan and Tanya Snyder announced Wednesday they have retained BofA Securities to "consider potential transactions."

Per Mike Ozanian of Forbes, at least four groups have expressed interest in buying the team.

Ozanian noted Dan Snyder and his bankers "are exploring all options and a transaction could be for the entire NFL team or a minority stake."

Snyder's ownership has been marred by his longtime refusal to change the franchise's previous nickname, which many considered a racial slur, and multiple investigations into allegations of workplace misconduct.

The United States House Committee on Oversight is investigating the Commanders' history of alleged workplace misconduct and sexual harassment. Snyder and NFL Commissioner Roger Goodell testified before the committee over the summer.

The NFL is also conducting an investigation, led by former U.S. Attorney Mary Jo White, though, as of Oct. 27, Snyder hadn't been interviewed.

The Washington franchise hired attorney Beth Wilkinson to review organizational protocols and examine its past workplace culture in July 2020. The league took over the investigation, still led by Wilkinson, the following month.

The NFL announced Wilkinson completed her review in July 2021, finding the franchise had fostered a work environment where sexual harassment, bullying and verbal abuse were tolerated, but a full report of the investigation was not made public. As a result of the investigation's findings, the team was fined $10 million and Tanya Snyder took over the day-to-day operation of the team.

Rob Maaddi of the Associated Press noted last week that the league has promised to release a written report of the findings from White's investigation.

Per Michael Phillips of the Richmond Times-Dispatch, lawyers for the Commanders sent a nine-page letter to the House Oversight Committee last month raising "concerns" about the committee's work and process.

Tom Davis, a former representative from Virginia, alleged in the letter the committee's "singular purpose" was to "destroy Dan Snyder and his family and attempt, with deception, innuendo and half-truths, to drive him from the National Football League."

Amid the investigations and questions about Snyder's long-term viability as an owner, ESPN's Seth Wickersham, Don Van Natta Jr. and Tisha Thompson reported last month the 57-year-old told a close associate he has enough secrets to "blow up" several other NFL team owners, the league office and Goodell.

"They can't f--k with me," Snyder has said privately, per Wickersham, Van Natta and Thompson.

Jim Irsay of the Indianapolis Colts told Mark Maske and Nicki Jhabvala of the Washington Post on Friday that he thinks there is "merit to consider removal" of Snyder as Commanders owner.

If the NFL held a vote on removing Snyder, at least 24 owners would have to vote in favor.

Commanders fans have voiced their displeasure with the state of the franchise. They booed Tanya Snyder and chanted "sell the team" when she was shown on the videoboard during an Oct. 23 game against the Green Bay Packers at FedEx Field.

Dan and Tanya Snyder purchased the Washington NFL franchise in 1999 for a then-record price of $800 million.