EXCLUSIVE: Dan Snyder Hires Bank Of America To Sell Washington Commanders https://t.co/vXct0SpfN2— Forbes (@Forbes) November 2, 2022
For all you DC fans, the reign of terror might be soon coming to an end....
According to someone familiar with the process, Snyder already has at least four calls from groups interested in buying the team. Snyder and his bankers are exploring all options and a transaction could be for the entire NFL team or a minority stake.
Neither the Commanders or Bank of America, which has handled such notable team sales as the purchase of the Los Angeles Clippers by Steve Ballmer in 2014, would comment.
Im March of 2021 Snyder and his family got 100% control of the Commanders when he bought out his minoirty partners. It was a savvy move by Snyder as the value of NFL teams have continued to soar.
Comments
>we're probably gonna sell the team
>who'd you retain to scout potential buyers and facilitate transactions?
>BofA
>Oh, BofA?
>BOFA DEEZ NUTS
There are going to be so many fees attached to this, they're gonna need a couple of forest to print out that paperwork
Elon Musk hasn't bought anything in like 5 days, maybe he'll get involved
Laughing because off the 5 days part... the reality of him buying a team could be worse than Snyder's reign of terror.
He'll add an $8k per month charge for players to have a captaincy patch on their jerseys.
the reality of him buying a team could be worse than Snyder's reign of terror.
not possible
He's to busy stealing resources from a publicly traded company to help his new project.
Man, is there anything Taylor Heinicke can't seem to do for Washington?
Bank of America PLEASE!!! All aboard the Jeff Bezos hype train.
(for real though, this is AMAZING if the wheels are now turning!)
Calling it now. Bezos is going to buy them
That was the first person I thought of as well. And I'm willing to bet he can get the new stadium deal done in the city faster than anyone else.
#NewStadiumInActualFuckingDC pls
Wake me up when it actually happens, probably just take away from people laughing at them giving a first for Wentz.
If it happens gonna miss Washington sucking ass and laughing at them having fun with Wentz.
And there was much REJOICING!
this could actually drive me to become a fan- but a lot would need to happen first
sale goes through to someone who isn't a complete schmuck (probably the biggest hurdle, tbh)
new (not) schmuck needs to re-brand, again, because "Commanders" is such a terrible fucking name (I was partial to the Red Wolves myself)
new (not) schmuck needs to build a state of the art stadium INSIDE DC (where it's f'ing supposed to be) and make the team accessible to actual folks in Washington, DC
new (not) schmuck needs to hire great people in the front office who actually know WTF they're doing regarding football - get folks who can execute a reasonable draft strategy and build a team that can compete in the league
also, seems odd to me that Snyder is considering sale of the franchise - I sorta wonder if other owners are fed up with him and have strong-armed him behind the scenes to sell the team or else he'll get exposed in such a way that is unrecoverable (though, this day-in-age, I think it's pretty easy for prominent folks to just get away with whatever shit they like)
a competent front office is a must, as is a new stadium. I'm not convinced it NEEDS to be within the DC borders, but it needs to be way more accessible to get to instead of clogging 495 every game day. As for re-branding again - i dont know that I could care much less. I know a lot of people on this site were not happy with the result, but honestly I think the uniforms look good and the new logo is clean. Re-brands are tough, I just think this one was mucked-up for how long it took and because it happened under Snyder's watch.
I can only assume this announcement is to maximize value in the sale. Snyder knows he's done, and rather than lose value by having the owners vote him out he's electing to sell now and pocket what he can.
That is going to come with a massiiiiive price tag.
step 1 - win the powerball jackpot
step 2 - buy the franchise
step 3 - ....
step 4 - profit
step 5 - become the first nfl franchise owner to invest in local college NIL deals to create de facto farm teams for the nfl by dumping absurd amounts of money into VT's NIL fund
Yeahhhh your measly powerball earnings might be enough to buy 10% of the team after taxes lol sorry pal. Valuation is 5-7 billion!
It's still the #3 most valuable sports franchise right? Man U and Cowboys being 1/2
The washington commanders #3 globally? I really really doubt that
Edit: #19 in 2021
https://www.forbes.com/sites/mikeozanian/2021/05/07/worlds-most-valuable...
hahaha, we posted at the same time. Not from May 2021 to Sep 2022 they moved up 11 spots. Guess actually picking a name and new unis paid off.
I think your list is limited to US franchises
Edit: wow i was wrong -- this seems.... wrong....
New money dumped into the NFL, tv deals, streaming, etc...
I wouldn't put much stock into these Forbes valuations. Back in 2017 they had the Carolina Hurricanes valued at something like $200m and went apeshit going so far as to call the actual press release 'fake news' when Tom Dundon bought the team for $500m about 2 months later.
Forbes actually has them at 8th.
https://www.forbes.com/sites/mikeozanian/2022/09/08/the-worlds-50-most-valuable-sports-teams-2022/?sh=29a0b2da385c
And I'm surprised ManU is 19th, behind 2 other soccer clubs.
Yeah didn't used to be that way. I'm surprised Washington is so low since they are one of two teams that own their stadium.
Agreed. The baseball one up there doesn't surprise me though.
And with the other futbol clubs, wonder how much debit you have to incur to purchase them, especially Barca.
Not to be political, but the value of the dollar has a lot to do with the relative worth when comparing teams form different currencies.
It does, but these sort of articles typically span a longer period than simply a single day value. While the Pound is weak right this moment (fantastic for paying for a golf trip to Scotland in advance!!!) Manchester United's Value is still extremely high and spans across differing rates. NFL teams have buped up with self-owned stadiums and new tv streaming deals.
I'll believe it when I see it. Not only does the team need to be bought by someone else, the name needs to be changed to the Skins, Hogs or Redhogs. I'm not going back to being a fan and rooting for the shitty ass Commanders team name
I for one am truly loving the new bit on grant and Danny where everyone salutes Commander Danny every time they call in due to his disposition for the name.
I'm still okay with Washington Football Team. They should have just run with it. It's recognizable and funny in a mildly arrogant sort of way. It grew on me quickly.
I could have lived with it. Better than the current name.
Bezos buys the team, moves it to Fredericksburg and renames them the Washington Sandbaggers.
Moves them to Charleston, SC and renames them the Carolina Carpetbaggers
Two DC teams up for sale. Neither likely to be completed in a timely fashion. Let's watch both teams continue to implode on themselves as they continue to dwell in a quasi "for sale" purgatory. Sigh.
Probably just gives Leonsis an ability to buy up all the major sports teams in DC. He's not a bad owner (see Caps) but he's definitely not a good owner (see Wiz).
If this actually happens, I don't think people outside the DC market/not a redskins fan, realize how big of a celebration this will be for us fans. Honestly, they might throw a parade like they won the Super Bowl.
Just look how nonchalant the Broncos sale was... Oh they are selling team? Ah interesting (proceeds to move on with day and doesn't blink twice)... Now we have a shear glimpse of hope of Dan selling the team and social media, radio shows, front page on ESPN/NFL.com and tv shows are blowing up nationwide.
PLEASE MAKE IT HAPPEN!!!!
COME ON BEZOS!!!
Buy the team, rename it to Red Tails, and move it back to DC.
AAAAAAAAAAAAAAAAAAAAAAAAAnd now the Feds are involved.
And now this.....
https://www.espn.com/nfl/story/_/id/34934158/sources-us-attorney-office-...
'The U.S. attorney's office in the Eastern District of Virginia has opened a criminal investigation into allegations that the Washington Commanders engaged in financial improprieties, two sources familiar with the matter confirmed to ESPN on Wednesday.'
I'm gonna go make some popcorn....
Anyone think it's not a coincidence?
Of course it's not...(and I have no horse in this race...I'm a lifelong cowboy fan). My guess is one of Snyder's insiders told him the feds were about to crack down on his finances (this is not a new rumor that shady shit was going down...it's been talked about on this site before) and he tried to get the team on the market before the value of the team drops because of the $$ shenanigans. Imagine if the feds put a freeze on all their assets...then he can't sell, and meanwhile the owners try to force him out.....then he's left holding his dick.
Hopefully in his own cheeks. He's been such a disgrace to everything that Jack Kent Cooke did for Washington football.
As a fellow lifelong Cowboys fan, we do have a horse in this race, it's always enjoyable when Washington struggles. I hate it that so many Hokies have played in Washington.
ftfy
The value dropped when he bought the team and then again when he changed the name...
Thats fair...
He bought it for 800 million and is likely to sell for 5.6 billion. I don't think the investigation is going to hurt the value enough to slow it down.
Its almost like Snyder knew this was coming and wanted to try and get this sale done before it effects the value or the feds freeze his assets. I'm curious if they were frozen if the owners could force a sale for less money?
This would be literally the greatest Washington football moment in decades.
Gonna be a lot of sad faces when Snyder sells a 30% stake, pockets a couple billion and retains control. Because F that guy.
It will be for the whole team. All signs point to that.
Seriously, who would want to buy into that shitshow as long as Danny Boy is still around? There's a reason that he had to buy out his last set of co-owners.
I'll buy the franchise, then move it to San Antonio
As an Eagles fan, this is terrible news.
As a decent, upstanding person who hates bad human beings, this is great news.
an Eagles fan
a decent, upstanding person
Are these two mutually exclusive? Asking for a friend...
I mean they did throw snowballs at Santa... So... yeah.
Cause he was clearly an imposter .... everyone knows santa was at a mall in the middle of WV that day, I know I was there!
I mean Santa is a blasphemous portrayal of the All Father Oden, it's whatever.
Santa deserved it, and yall really need to let this go. It's been 54 years.
As for 46cc's original reply, whether they're mutually exclusive or not is entirely up to you.
It's not like Philly fans have gotten any better. They are West-by-God fans of the NFL.
Those are literally Pittsburgh fans
that's more like it
I'd buy the team for a dollar, fire everyone, then move the team to Virginia and bring back football team as their name.
1. Goodell and Jerry Jones nudged him and said Dan, this is a fucking shitload of money. billions in profit, take it you asshole. 2. There are few major things in America that have been the abject failure level of the Snyder regime in Washington- Very few. - Losing on the field, taking upskirt pictures of cheerleaders, the worst stadium in pro sports with no end in sight for a replacement, screwing the city of Richmond, sexist, racist, toxic workplace run by a little napoleon who fired people for looking him directly in the eye, suing season ticket holders, and taking 2 years to do a rebrand, where Nike released a "commanders" in ariel font with a line on the top and bottom and said "this is the new logo". Horrid. Every single aspect of it. Sell the team.
There are situations similar (well, not THIS dire...) where I say it needs some adult supervision. Not Danny, but the entire organization.
Cleveland Browns?
Early 90's Cincinnati Reds?
Brooklyn Nets?
I'm not sure that's actually a negative...
Richmond needs no help in doing it all on it's own
You're not kidding
a little napoleon who fired people for looking him directly in the eye
I'm friends with Snyder's former private pilot and he said he was not allowed to look at Danny Boy or say anything to him. If I'm on a private jet, I want to make sure the pilot knows I like him because that guy has my life in his hands. We have joked often that he should have flown out over the Atlantic and jumped out with a parachute on while the plane steered into the watery depths and I would have rescued him in my boat.
Lol- you can't talk to him. Who the fuck does this dude thinks he is? He owns a football team. He's not a General, He's not the president- he owns a fucking ball team. Little prick.
I do think it has been a little shocking that Irsay said removal of Snyder might be warranted after his own suspension and the fact that the league never took action against Haslam.
Do the other NFL owners have any avenue to approve/disapprove who the team can be sold to?
Tinfoil hat: As one last F.U. to everyone he sells the team to the Saudi Arabia PIF ala Newcastle United
The removal of an owner (and/or approval of buyer) requires 3/4's vote (24 of 32) of the NFL teams.
Cool thanks for the answer.
There is apparently a pre-approved list of owners (I think 5) for football teams that the NFL maintains.
It's...about...to go...down
if Jay-Z is still involved with Roc Nation agency he wont be able to be involved in ownership
That was mentioned as well on the CNN article I just read. Bezos has ties to sports as well but there's no idea as to how his or Jay-Z's business involvement will be handled. But if neither is commenting then it's likely that those discussions have already started and plans are being laid out.
Just please be someone that isn't a narcissist and will actually make moves to make the team competitive and make efforts to repair that junk heap of a stadium. Please...
I dont think there is a single person that has the money to buy the team that isn't a narcissist.
Mark Cuban probably about as close as you'll get
I've always thought that Warren Buffett would be an epic team owner. Super chill guy, would be hands off, but would definitely be interested in winning because it would lead to increased revenue.
I read Jimmy Buffet and thought he probably isn't THAT rich
He's not far off if he had a group of people to buy a team with. He's worth somewhere between $600 and $900 million. He's definitely one of the richest musicians in the world.
Doesn't he own part of the Dolphins?
I will not celebrate this news until that no count Dwarf cashes the check.
I'm surprised this clip hasn't made more rounds in the social feeds.
This is just absolutely classless.
What happened to Brian Robinson has absolutely nothing to do with whatever the Attorney General is gonna drop on the Snyder shitshow tomorrow.
Robinson's agent isn't happy about it either -- https://www.espn.com/nfl/story/_/id/34990512/brian-robinson-agent-calls-...
Dan snyder and his lawyers handle everything with such grace and class. That statement alone tells you they might have some paydirt and they are pissed.
Jason Wright tweeted out an apology shortly after for that statement for those wondering if they realized how fucked up that release was.