Report: Bids North of $7 Billion Mean Dan Snyder Could Be Gearing Up For Full Sale of Commanders
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On Saturday, bids to purchase the Washington Commanders were due and Forbes reported that owner Dan Snyder has received bids well north of $7 billion. Snyder bought the team in 1999 for $750 million.
Amazon Executive Chairman Jeff Bezos is believed to be one of those interested in purchasing the team, as well as rapper Jay-Z, according to reports from People.com.
Snyder has hired Bank of America to handle the sale of the franchise. While it is unclear whether he will sell the enire team or just an interest in the team, some speculate the bids coming in indicate he is looking to accomplish a full sale.
Snyder has been under a public microscope for the last 18 months after being accused of sexual misconduct by a former cheerleader and following an investigation by a Congressional Committee. The Committee’s final report, following a 14-month probe blamed Snyder for creating a toxic workplace at the organization and claimed he allegedly tried to coverup his involvement.
Specifically, Synder was accused by Congress of offering hush money to witnesses, intimidating them with private investigators, and refusing to release former employees from non-disclosure agreements. The report also claimed he was involved in some way with directing the creations of nude videos of cheerleaders taken without their permission. Snyder has denied all of the allegations and members of the GOP have said the democratic-led Committee’s report was biased and politically driven.
The Committee’s report also accused Roger Goodell and the NFL of being involved in an alleged cover-up and of being aware of Snyder’s alleged tactics, including allegedly trying to blame former team President Bruce Allen for the toxic workplace. The report also accused the league and Snyder of entering into a joint legal agreement to dictate the team’s discipline following the Beth Wilkinson investigation and to prevent a final report from being released to the public.
Following Wilkinson’s investigation, the team was fined $10 million dollars and the league announced that it found no evidence of Snyder’s direct involvement in the toxic workplace. The Committee claims the NFL and Snyder have blocked its access to more than 40,000 documents related to the internal investigation. The Committee also interviewed over 150 people, including numerous former employees who testified before Congress.
In the wake of the controversy, there have been numerous calls by fans and commentators for Snyder to sell the team.
Just this past year, the Broncos were sold for $4.65 billion. The sale of the Commanders could be close to double that if it goes for over $7 billion. The Dallas Cowboys are the most expensive franchise in North America at a value of $8 billion.
In the NBA, Phoenix Suns owner Robert Sarver put both the Suns and WNBA team the Phoenix Mercury for sale after he was investigated and suspended. Sarver is said to be completing a sale of the Suns for $4 billion.
The Commanders are currently sitting in a playoff position as the seventh seed with a 7-7-1 record. They have lost two consecutive games and their next game is on January 1st against the Cleveland Browns.
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