Could Daniel Snyder be on the verge of selling the Washington Commanders?
According to Mike Ozanian of Forbes, Snyder has retained Bank of America Securities in an effort to sell the Commanders. It’s important to note that Ozanian said Snyder is exploring all options, such as selling a minority stake in the team or selling the team outright.
Bank of America helped Steve Ballmer purchase the NBA’s Los Angeles Clippers in 2014.
Snyder and his family gained complete control of the Commanders in March 2021 when he acquired the remaining 40% of the team from his former partners, Dwight Schar, Fred Smith and Robert Rothman. The NFL approved a $450 million debt waiver for Snyder to acquire the remaining 40% of the team.
Snyder is currently under investigation by the NFL, U.S. House Committee on Oversight and Reform and others.
After Forbes broke the story, the Commanders released the following statement confirming Snyder’s plans.
We’ll continue to follow this story as it develops.