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Washington Commanders proprietor Dan Snyder hires Financial institution of America to discover attainable sale

Crew co-owners Dan and Tanya Snyder pose for a photograph with present group members and alumni throughout the announcement of the Washington Soccer Crew’s identify change to the Washington Commanders at FedExField on February 02, 2022 in Landover, Maryland.

Rob Carr | Getty Photographs

Washington Commanders proprietor Dan Snyder has employed Financial institution of America to discover “potential transactions,” the group mentioned Wednesday.

The NFL group employed the financial institution to assist facilitate a possible sale, in response to an individual conversant in the matter.

Snyder is not being compelled to promote the group despite mounting pressure to potentially remove him as an NFL owner, the particular person mentioned.

A deal for the Commanders may worth the group as a lot as $7 billion, the particular person mentioned. Forbes valued the group at $5.6 billion in its annual group valuations record, making the franchise the sixth most beneficial within the NFL.

Snyder and the Commanders are presently being investigated by each the House Oversight Committee and the NFL for sexual harassment and monetary misconduct. Indianapolis Colts proprietor Jim Irsay said at last month’s NFL homeowners’ assembly that there was “advantage to take away” Snyder as proprietor of the Commanders.

“It is one thing we’ve got to evaluation, we’ve got to have a look at all of the proof and we’ve got to be thorough and it is one thing that needs to be given critical consideration,” Irsay mentioned of voting on Snyder’s removing final month.

After Irsay’s feedback, the Commanders launched an announcement saying Snyder would not promote the group.

“We’re assured that, when he has a possibility to see the precise proof on this case, Mr. Irsay will conclude that there is no such thing as a motive for the Snyders to think about promoting the franchise. They usually will not,” the assertion mentioned.

Snyder has owned the Commanders since 1999. Within the final 23 seasons, the Commanders have made the playoffs six occasions and have but to advance to a convention title recreation. Snyder has drawn consistent ire from the Commanders’ fan base for his habits and the group’s efficiency.

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