Washington NFL team owners hire firm to explore potential sale of Commanders franchise

The NFL's Washington Commanders could soon be for sale, after owners Dan and Tanya Snyder said they have hired Bank of America Securities to "consider potential transactions."

The team announced the surprising decision Wednesday to enlist the investment bank's services. Asked if the Snyders were considering selling part or all of the team, a spokesperson said, "We are exploring all options."

That could mean a full sale amid mounting pressure and multiple ongoing investigations — Snyder has said many times he would never sell the team — or bringing on new investors more than 18 months after the Snyders bought out the previous minority owners.

The Commanders are worth an estimated $5.6 billion US, according to Forbes. That ranks sixth among the league's 32 teams and would be more than the $4.65 billion Walmart heir Rob Walton paid for the Denver Broncos earlier this year.

It was not immediately clear how soon a possible sale could happen. Citing anonymous sources, Forbes reported Snyder has already received at least four calls from groups interested in buying the team.

In the statement announcing the decision, the team said, "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."

Snyder's ownership in Washington has come under increased criticism after an investigation found a toxic workplace culture and prompted a $10 million fine and additional reviews that are ongoing. The league office and Congress are currently investigating various organizational improprieties, including allegations of sexual harassment and potential financial improprieties.

It would take 24 of the other