ASHBURN, Va. — Washington Commanders co-owners Dan and Tanya Snyder announced that they have hired Bank of America Securities to explore potential transactions involving the team.
A statement from the team did not specify what those transactions might be, whether it was the sale of the team or if they were pursuing minority investors.
A Commanders 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 team said in the statement.
Congress continues to investigate Dan Snyder for the workplace culture created during his ownership. The NFL, led by attorney Mary Jo White, also is investigating Snyder for a second time, stemming from an allegation of sexual misconduct. The first investigation resulted in a $10 million fine of the organization.
There also are investigations by the attorneys general in Washington, D.C. and Virginia regarding financial improprieties by the organization, which the team has denied.
Two weeks ago the Commanders released a statement saying he would never sell the franchise in response to Indianapolis Colts owner Jim Irsay saying at the NFL’s fall meeting in New York that there was merit to consider whether they should vote him out as owner.
The league requires 24 of 32 owners to approve such a vote, which never has been done at the NFL level.
Commissioner Roger Goodell told reporters at the fall meeting that he had “little to no discussion” with ownership about the Snyder issue, in large part because White’s investigation is not complete.
A recent ESPN investigation detailed the matter while painting Snyder’s plans against fellow owners and Goodell, using private investigators to acquire “dirt” from their past.
Snyder sent a letter to fellow NFL owners addressing the ESPN investigation and refuting his alleged use of private investigators.
“That is patently false and intended to erode the trust and goodwill between owners that I take quite seriously,” he told his counterparts according to the letter, which was obtained by ESPN and dated Oct. 17. “I have never hired any private investigator to look into any owner or the Commissioner. I have never instructed or authorized my lawyers to hire any private investigator on my behalf for any such purpose. And I never would.”
Snyder has owned the team since 1999 when he payed $800 million. He gained full control of the franchise late in 2020 when he bought out his three minority investors. The franchise is now worth $5.6 billion, according to Forbes.
ESPN’s Adam Schefter contributed to this report.