Getty Image / Rob Carr
It was reported on Wednesday that Washington Commanders owner Dan Snyder took the first step in a potential sale of the team. He has reportedly hired Bank of America to start weighing sale options and offers.
Washington Commanders owner Dan Snyder has been embroiled in controversy for years. But he’s held firm on not wanting to sell the Commanders. So why now? Why after years of damming reports is he pursuing a sale?
Theory On Why Dan Snyder Is Considering Sale Of Washington Commanders
Well, NFL insider Mike Florio is sharing a theory ‘from someone who routinely moves in league circles’ and it could explain why Dan Snyder’s finally giving in. The gist is the Washington Commanders need a new stadium and that requires political cooperation. But no politician in the greater DC area will work with Snyder. Here’s what Florio is saying on PFT:
“Here’s one theory, from someone who routinely moves in league circles. A new owner will likely be handed the site of RFK Stadium for the construction of a state-of-the-art facility in D.C. Snyder, on the other hand, has no chance of getting anything done. No public official, from either side of the aisle, will want to deal with him.”
“There likely will be more than a few suitors. From Jeff Bezos (who didn’t try to buy the Broncos) to Josh Harris (who did, and who would have paid $5 billion for it) to Matt Ishbia (who also did) to various private equity/hedge fund billionaires who aren’t widely known. (Remember, private equity/hedge fund billionaires, the only thing better than being rich and famous is being rich.)”
This is, of course, a report citing an unnamed source. But it’s certainly believable given the toxicity that has surrounded Dan Snyder in the public eye for years.
Figures are already being thrown around of what the Commanders’ price tag might be. Some say the starting price for bids could be $5.6 billion. But it’s not unthinkable that a group could come in and spend A LOT LOT LOT more.
What happens next?
According to reports, the team from Bank of America will now begin fielding potential offers for a sale. It’s almost inconceivable that Dan Snyder would do this without intentions to sell the team.
Many believe that Jeff Bezos will explore a purchase. That will get tricky given his business entanglements with the NFL, something other league owners might not be fond of if he were to assume an ownership position.
The Washington Commanders are listed as the 6th most valuable franchise in the NFL. This means we will likely see a record price tag once a deal finally closes.
Commanders fans have wanted Snyder out for quite some time. And a recent report suggested the NFL is ‘starting to sweat‘ the Jon Gruden lawsuit Snyder is embroiled in.