NFL Team Owners Exploring the Sale of Franchise

By Brian Jones

Two NFL team owners are looking for buyers. On Wednesday, the Washington Commanders announced that co-owners Dan and Tanya Snyder have hired Bank of America Securities to explore the potential sale of the team. According to ESPN, a team 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 Commanders said in the statement. According to Forbes, Dan Snyder had at least four calls from groups who are interested in buying the team. 

"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)," league spokesperson Brian McCarthy said in a statement on Wednesday, per NFL.com. 

Dan Snyder bought Washington from Jacke Kent Cooke's estate in 1999. The franchise is currently the subject of separate investigations by the U.S. House Committee on Oversight and Reform and former U.S. Attorney Mary Jo White. She is conducting a review concerning allegations of workplace misconduct and potential unlawful financial conduct. McCarthy said there's no update on the timeline of the investigation.

The news from the Commanders comes after Indianapolis Colts owner Jim Irsay told reporters at the Fall League Metting in New York that "there's merit to remove" Snyder as owner. The Commanders had a strong response to Irsay's comments. 

"It is highly inappropriate, but not surprising, that Mr. Irsay opted to make statements publicly based on falsehoods in the media," the Commanders said. "It is unfortunate that Mr. Irsay decided to go public with his statement today, while an investigation is in process, and the team has had no opportunity to respond to allegations. The Commanders have made remarkable process over the past two years. We are confident that, when he has an opportunity, to see the actual evidence in this case, Mr. Irsay will conclude that there is no reason for the Snyders to consider selling the franchise. And they won't." Since Snyder bought Washington in 1999, the team reached the playoffs six times and won the division twice. 

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