Commanders owner Dan Snyder, along with his wife and co-owner Tanya, hired Bank of America to explore potential transactions involving the Washington franchise earlier this week.
Transactions could include selling the majority ownership stake in the team, or a minority stake in the franchise as well, according to Nicki Jhabvala of The Washington Post.
One owner told Sports Illustrated’s Albert Breer that the team is expected to sell for at least $5 billion, with the possibility of the price tag reaching $6 or $7 billion. Breer added that this price is considered a good prediction because the Broncos sold for a North American sports-record $4.65 billion back in June.
Upon hearing the news of Snyder seeking to sell the team, Cowboys owner Jerry Jones was not surprised. Jones expanded on his thoughts during his weekly radio spot with 105.3 FM “The Fan” in Dallas.
“Well, I don’t think I was necessarily surprised because he recently acquired a very significant portion of the team, 40% from other partners,” Jones said per Ben Standig of The Athletic.
“And at the same time, he’s entertaining the building of the new stadium. The acquisition of the partnership interest, as well as the building of the new stadium, is going to require huge economic resources, almost unthinkable economic resources. And so these are the times that you sit down and start your noodling, so to speak, or try to figure out how you’re going to get there and what you’re going to look like when you get there. So this doesn’t surprise me that he set up a time of real, real planning or real thinking about how to manage the economic resources it takes to be where we want the Washington team to be,” Jones added.
When asked whether Jones thought it’s significantly more likely that Snyder was just selling a minority stake in the team, the Cowboys owner wouldn’t go that far.
“It sounds like I’m saying that, but I am really saying I bet all options are on the table, and then you see what might be possible. And that’s what I think the exercise is. Let’s look and see what our options are here. See where the big interest is, what makes the most sense, in their case, to the Snyders, and then go from there. It’s one thing to sit there at your table and draw up all your plans and figure out how you’re going to get it done financially… but you in the mirror in this case, you need more, and that’s a third party, so he’s out testing the waters.”
More NFL Coverage:
For more Washington Commanders coverage, go to Commander Country.
