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Embattled Washington Commanders owner Dan Snyder is considering selling the NFL franchise following years of controversy surrounding everything from the team name to accusations of sexual harassment. It remains unclear if he would sell the entire team or if he’s just looking to add a minority partner.Â
Snyder has retained Bank of America to sell the club, the club announced Wednesday.
The 57-year-old billionaire already has four interested potential buyers, Forbes reports. Snyder is exploring all options, including selling the entire team or simply a minority stake.
A spokesman for Snyder did not immediately respond to DailyMail.com’s request for comment, but the team did release a statement on Wednesday.Â
‘Dan and Tanya Snyder and the Washington Commanders announced today that they have hired BofA Securities to consider potential transactions,’ the statement began. Â
‘The Snyders remain committed to the team, all of its employees and its countless fans to putting the best product on the field and continuing the work to set the gold standard for workplaces in the NFL.’
The reference to the ‘gold standard for workplaces in the NFL’ is curious, given that the team is under investigation by Congress over sexual harassment and hostile workplace claims. Â
The Commanders (4-4) are worth roughly $5.6 billion – sixth best among NFL teams – according to Forbes. Snyder bought the club for a reported $800 million in 1999.Â
Embattled Washington Commanders owner Dan Snyder (pictured with wife, Tanya) is considering selling the NFL franchise following years of controversy surrounding everything from the team name to accusations of sexual harassment. It remains unclear if he would sell the entire team or if he’s just looking to add a minority partner
A Washington Commanders fan looks on while wearing a sign that reads ‘Sell The Team’ during the second quarter between the Chicago Bears and the Washington Commanders at Soldier Field on October 13, 2022 in Chicago
The reference to the ‘gold standard for workplaces in the NFL’ is curious, given that the team is under investigation by Congress over sexual harassment and hostile workplace claims
News of a potential sale follows comments from Indianapolis Colts owner Jim Irsay urging the NFL to remove Snyder as Commanders owner. Speaking at last month’s league meetings in New York, Irsay said ‘there’s merit’ to booting Snyder, who ranks as one of the least popular owners in professional sports.Â
For starters, the Commanders have been terrible since Snyder bought the club in 1999. Washington, a three-time Super Bowl winner and five-time NFL champion, has reached the postseason only six times over Snyder’s tenure. The current head coach, Ron Rivera, is Snyder’s 10th since taking control of the team.Â
Throughout Snyder’s tenure, the team has been criticized for its now-former nickname, the Redskins, which is considered offensive to Native Americans.Â
The Washington team finally rebranded in 2022 as the Commanders after dropping its Redskins name in 2020 under a wave scrutiny following the George Floyd protests. Â
A Washington Commanders fan holds up a sign before a game against the Indianapolis Colts at Lucas Oil Stadium on October 30, 2022 in Indianapolis
The team’s former minority owners consisted of FedEx Corp. CEO Fred Smith, Black Diamond Capital chairman Robert Rothman (right) and NVR Inc. board chairman Dwight Schar (left), who controlled a combined 40 percent stake worth roughly $1.4billion, according to Forbes’ $3.4billion valuation in 2019. They have since sold their shares to Snyder amid a contentious breakup between the ownership groupÂ
FedEx Corp. CEO Fred Smith (pictured)Â thought he found a buyer for the Commanders in 2020, but the deal was never finalized because Snyder was refusing to sell at the timeÂ
In 2021, Snyder bought out minority partners Fred Smith, Dwight Schar and Bob Rothman for a reported $875 million after years of infighting.Â
Smith, Schar and Rothman have been hoping to sell their shares for much of 2020. In fact, Smith reportedly negotiated a $900 million sale for the shares, according to the Washington Post, but Snyder blocked the sale, prompting Smith, Schar and Rothman to sue him in federal court. Â
In response, Snyder sued an Indian media company, MEA Worldwide, claiming they took part in a smear campaign against him that was organized by Schar in order to force him to sell his stake.   Â
The club currently faces a criminal investigation in Virginia, where the Commanders are accused of financial malpractice for allegedly swindling season ticket holders out of security deposits and improperly withholding ticket revenue from NFL teams. The Commanders have denied these claims.Â
Furthermore, the Commanders are the subject of a congressional investigation into sexual harassment and hostile workplace allegations.
Various reports have detailed claims of sexual harassment made by female ex-employees against male co-workers and supervisors, many of whom have since been dismissed.
Sexual harassment allegations against team employees ranged from inappropriate comments to the creation of a lewd behind-the-scenes video from a cheerleader calendar shoot in 2008, according to a 2020 Washington Post report that first publicized the claims.
Redskins cheerleaders seen dancing as part of a 2004 event, where Tiffany Bacon Scourby claims Snyder suggested she spend some time with a close friend of his in a nearby hotel room
Furthermore, a former cheerleader also alleged that team owner Dan Snyder suggested that she join his ‘close friend’ in a hotel room in 2004 so they ‘could get to know each other.’
Those revelations prompted a team investigation handled independently by DC-area attorney Beth Wilkinson, but the league quickly assumed control of that probe with Wilkinson’s team reporting to the commissioner’s office.
The NFL then issued a $10 million fine to punish the club (which is worth an estimated $4.2 billion) and Snyder volunteered to cede day-to-day control of the team to his wife, Tanya.
But the league’s refusal to release a report on its investigation, citing privacy concerns of witnesses, prompted the Oversight Committee to launch its own investigation into the team, Snyder, and even the NFL.
That investigation has led to more allegations of sexual harassment. Specifically, former team employee Tiffani Johnston testified in February that Snyder grabbed her thigh at a team dinner and pressured her to get into a limousine – claims that Snyder has since denied.
Johnston’s testimony triggered a new league investigation that’s currently being led by Mary Jo White, a former US attorney and chairwoman of the Securities and Exchange Commission.
Attorneys representing some of the former Commanders employees who have filed complaints against the team responded to Wednesday’s news with a statement.Â
‘Today’s news that Dan and Tanya Snyder are exploring selling the Washington Commanders is a good development for the team, its former and current employees, and its many fans,’ said attorneys Lisa Banks and Debra Katz. ‘We will have to see how this unfolds, but this could obviously be a big step towards healing and closure for the many brave women and men who came forward.’Â
Ex-Commanders employee Tiffani Johnston told Congress’ Oversight Committee that Snyder once groped her thigh during a team dinner and pushed her toward his limousine with his hand on her lower back. Snyder has denied the allegationÂ
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