Dan Snyder hires Bank of America to sell Washington Commander

Dan Snyder hired BofA Securities to sell Washington Commanders, sources say forbes.

Snyder has already received at least four calls from groups interested in buying the team, according to people familiar with the process. Snyder and his bankers are exploring all options, and the deal could be an entire NFL team or a minority stake.

Neither the Commanders nor Bank of America, which has made some notable team sales, including Steve Ballmer’s purchase of the Los Angeles Clippers in 2014, would comment. Snyder bought the Washington Redskins (renamed Commanders last February) in 1999 for $750 million.

In March 2021, Snyder and his family gained 100% control over the commander when he bought out a minority partner. This was a smart move by Snyder, as the value of NFL teams has gone nowhere.

In the team’s latest deal, retail heir Rob Walton purchased the Denver Broncos for $4.65 billion in early August. later that month, forbes Commanders were valued at $5.6 billion, sixth among the league’s 32 teams. Snyder also owns 264 acres in and around FedEx Field, as well as his 150 acres at team headquarters in Ashburn, Virginia.

Revenue increased exponentially as the club was rebranded from Redskins to Commanders. The team’s sponsorship revenue has surged by 40% this season compared to 2021, and the team signed its highest sponsorship deal to date with SeatGeek.

Thanks to its long history and geographic location, the Commanders are one of North America’s most iconic teams, having only three owners since joining the National Football League as the Boston Braves in 1932. plug. Commanders is also working to find a location for a new stadium, which could be completed in five to six years.