Washington Commanders owner Dan Snyder has hired Bank of America to explore “potential transactions,” the team said Wednesday.
The NFL team hired the bank to help facilitate a potential sale, according to a person familiar with the matter.
Snyder isn’t being forced to sell the team despite mounting pressure to potentially remove him as an NFL owner, the person said.
A deal for the Commanders could value the team as much as $7 billion, the person said. Forbes valued the team at $5.6 billion in its annual team valuations list, making the franchise the sixth most valuable in the NFL.
Snyder and the Commanders are currently being investigated by both the House Oversight Committee and the NFL for sexual harassment and financial misconduct. Indianapolis Colts owner Jim Irsay said at last month’s NFL owners’ meeting that there was “merit to remove” Snyder as owner of the Commanders.
Click here to read the rest of the story written by Alex Sherman over at CNBC
