American Football

Report: Potential bidders have been told Dan Snyder plans to sell controlling interest in the team

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Report: Potential bidders have been told Dan Snyder plans to sell controlling interest in the team
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Full sale news

The Washington Commanders failed to make the playoffs again this year, but the team is still firmly in the NFL news cycle due to the expected sale of the franchise by Dan and Tanya Snyder. The co-owners and co-CEOs of Washington’s NFL franchise hired Back of America Securities to assess potential transactions for the sale of the team, an arrangement that was reported on November 2nd last year. They confirmed after the initial report that all options were on the table.

That was two and half months ago and the fanbase has been patiently waiting for resolution to a 23 year-old problem. The first round of bidding for the team ended around Christmas last year, but Washington fans are still looking for a present they’ve been deprived of for decades.

Several names have popped up as front runners including Jeff Bezos, Todd Boehly, and Josh Harris, but the bidding process isn’t clear. Bezos didn’t submit a bid during the first round of bids, and Boehly is reportedly out. There were “a half dozen” bidders in the first round, and the top bid was $6.3 billion, less than the $7B that was initially reported.

A.J. Perez of Front Office Sports has been covering this story for the past few years, and he reports that his sources say Snyder is selling a majority stake in the team, despite the fact that Dan and Tanya Snyder haven’t publicly stated their intentions for the potential sale. The deal is expected to close soon, but an announcement might not come until after this year’s Super Bowl.

Dan Snyder hasn’t officially said how much of the Washington Commanders — or even if — he will sell.

The half-dozen bidders, however, have been told that Snyder plans to offload enough to clear the way for a new controlling owner, a person with knowledge of the situation told Front Office Sports.

“They know he’s selling at least a majority stake in the team,” the source said.

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