Washington Commanders owner Dan Snyder could soon put the team up for sale after hiring Bank of America Securities to “consider potential transactions.” Patrick Semansky/Associated Press
After repeatedly saying he would never consider giving up the football team he rooted for as a child and has owned for more than two decades, Dan Snyder and wife Tanya have taken the first step toward selling the Washington Commanders.
The team announced the surprising decision Wednesday that the Snyders hired Bank of America Securities to “consider potential transactions.” Asked if the Snyders were considering selling part or all of the team, a spokesperson said, “We are exploring all options.”
Retaining the investment bank’s services could mean a full sale amid mounting pressure and multiple ongoing investigations or bringing on new investors more than 18 months after the Snyders bought out the previous minority owners. It’s the first indication Snyder has given that he’d even consider selling the team.
BofA Securities has handled other sales of professional sports teams, including Steve Ballmer buying the NBA’s Los Angeles Clippers in 2014. A message sent to the firm seeking additional comment was not immediately returned.
The Commanders are worth an estimated $5.6 billion, according to Forbes – a sevenfold increase over the then-record $800 million Snyder paid for the team in 1999. 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. Sports business experts suggested a year as a reasonable timeframe, although pre-approved bidders who lost out on the Broncos provide a starting point of potential owners if they are also interested in the Commanders.
“It could move fairly fast,” said Lisa Delpy Neirotti, director of the master’s program in sports management at George Washington University.
League spokesperson Brian McCarthy said, “Any potential transaction would have to be presented to the NFL Finance Committee for review and require an affirmative vote by three-quarters of the full membership.” That means 24 of 32 owners.
COMMANDERS: Chase Young practiced with Washington on Wednesday, his first time doing so in nearly a year since tearing the ACL in his right knee.
Young took part in individual drills as expected Wednesday after the team started his 21-day clock to activate him off the physically unable to perform list. Coach Ron Rivera would not commit to Young playing Sunday against the Minnesota Vikings.
“That’s probably jumping the gun,” Rivera said. “He did look good. We’ll see how he is tomorrow, how he reacts to the amount of work he had. He looked quick. He looked spry. He was excited. We’re going to follow what the trainers and doctors tell us about this.”
Young, the team and doctors have taken it extra careful with the pass rusher’s recovery from surgery, which involved grafting part of his left patellar tendon to fix the tear on the other side. The 23-year-old said even though the practice was without pads and helmets he felt “like a football player again.”
He insists he did not have a timeframe for when he’d be back.
LIONS: General Manager Brad Holmes insisted he still would have traded T.J. Hockenson even if his one-win team had a 6-1 record.
The Lions traded a 25-year-old standout tight end in the division to NFC North-leading Minnesota a few hours before the NFL trade deadline on Tuesday.
While it seemed to be a sign Detroit is conceding this season is lost, Holmes said that’s not the case. The Lions (1-6) host the Green Bay Packers (3-5) on Sunday.
“This move was not reflective of our record,” Holmes told reporters Wednesday while the team practiced. “If our record was reversed, and it made sense for us, then we would have still done it.”
The Lions upgraded their draft positioning with two picks in exchange for perhaps its best player. Detroit acquired a 2023 second-round pick and a 2024 third-rounder and sent a 2023 fourth-round selection and a conditional 2024 fourth-rounder to the Vikings.
CHIEFS: Kansas City expects to have newly acquired wide receiver Kadarius Toney on the field Sunday night when they face the Tennessee Titans in what could become a pivotal game in the race for AFC playoff seeding.
They also plan to have first-round draft pick Trent McDuffie back at cornerback following his hamstring injury.
The Chiefs acquired Toney last week from the New York Giants for third- and sixth-round picks in next year’s draft, hoping to upgrade a wide receiver room that has produced mixed results this season.
BROWNS: Cleveland quarterback Deshaun Watson will return from his 11-game NFL suspension for sexual misconduct allegations and start in Houston against his former team on Dec. 4, general manager Andrew Berry reiterated Wednesday.
During his bye week news conference, Berry said Watson has “done everything and more” since returning to the team’s facility last month and will play immediately when he’s eligible next month.
Watson played four seasons with the Texans, who traded him to the Browns in March. The 25-year-old was suspended by the league on Aug. 18 after being accused of sexual misconduct by more than two dozen women in massage therapy sessions.
BEARS: Chicago opened a 21-day evaluation window Wednesday to decide if left guard Cody Whitehair will return after placing him on injured reserve last month because of a right knee injury.
The 30-year-old Whitehair was injured in a loss to the New York Giants on Oct. 2. He has been a fixture on the Bears line at center and guard since they drafted him in the second round in 2016, starting 99 games.
FALCONS: Atlanta running back Cordarrelle Patterson returned to practice on Wednesday after missing four games following knee surgery.
The Falcons designated Patterson to return from injured reserve, opening the 21-day window where he can practice before joining the active roster. If he has a good week of practice, Patterson could return as soon as Sunday’s game against the Los Angeles Chargers.
THE WIFE OF two-time Super Bowl-winning coach Tom Coughlin died early Wednesday after a lengthy battle with an uncurable brain disorder.
Coughlin and his family released a statement announcing the death of Judy Whitaker Coughlin. She was 77.
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