Sunday, November 27, 2022
HomeBankDan Snyder Hires Financial institution to Discover Sale of Washington Commanders

Dan Snyder Hires Financial institution to Discover Sale of Washington Commanders

Daniel and Tanya Snyder, the embattled house owners of the Washington Commanders, mentioned that they had employed bankers to discover doubtlessly promoting the staff they’ve owned since 1999.

In a quick assertion, the Snyders mentioned that they had employed BofA Securities, which handles the gross sales of most of the greatest sports activities groups, to “think about potential transactions.”

Reached for touch upon whether or not the Snyders would search to promote your complete staff or a minority stake, a Commanders spokesperson mentioned, “We’re exploring all choices.” In 2021, Snyder purchased the 40 p.c of the franchise that he didn’t personal from three restricted companions. He and his household now personal almost all of the shares within the staff.

Snyder has been below rising strain from politicians, former workers and even fellow N.F.L. house owners due to the state of his staff, which ranks final in attendance within the league and has been investigated for quite a few allegations of sexual harassment made in opposition to staff executives and Snyder himself. A former worker additionally accused the staff of economic malfeasance, a declare that was submitted to the Federal Commerce Fee.

In a press release, the staff mentioned: “The Snyders stay dedicated to the staff, all of its workers and its numerous followers to placing the perfect product on the sector and persevering with to work to set the gold commonplace for workplaces within the N.F.L.”

At a gathering of the N.F.L. staff house owners final month, the Indianapolis Colts proprietor Jim Irsay mentioned “there’s benefit to take away” Snyder as proprietor of the Commanders. Such a transfer would require help from a minimum of 24 of the league’s 32 house owners.

This summer time, the Denver Broncos have been bought for a document $4.65 billion.


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