Dan Snyder plans to sell ‘majority stake in the’ Commanders
We have finally received confirmation from Daniel Snyder that he plans to sell Washington Commanders.
A.J. Perez of Front Office Sports reported Tuesday that bidders for the Commanders have been told that Snyder plans to sell “a majority stake in the team.”
“They know he’s selling at least a majority stake in the team,” Perez’s source said.
What’s interesting is many believe Snyder will sell the team. It was announced in November. Snyder had hired Bank of America to “explore potential transactions” Many were skeptical about the franchise. Many believed Snyder wanted to add another minority partner for cash flow reasons.
However, any transaction would need to be approved by the 31 other owners, and it’s doubtful that strategy would have worked.
Bank of America received a first round of bids from last month. a bit disappointingPerez reported on the weekend. Amazon founder Jeff Bezos submitted no bids in the first round.
That doesn’t mean Bezos is out of the running. Many believe Bezos didn’t want to come out with a strong offer because if he genuinely wanted the franchise, no one could match his offer. Bezos would then be bidding against his own interests.
Perez included this gem in his most recent report.
And while he has yet to fully enter the bidding, sources told FOS that Bank of America continues to court Bezos — even if there are indications that Snyder doesn’t want to sell to the second-richest person in the U.S.
Perez and JP Finlay of NBC Sports Washington have reported Snyder would prefer not to sell the franchise be Bezos due to his dislike for The Washington Post which Bezos also owns. However, Bank of America continues to court Bezos.
Finlay did state that his sources believed the sale would be completed in March, and that Josh Harris was one to keep an eye on.
The coaches and fans would prefer that the sale be completed before the new league year starts on March 15. This would allow Commanders to have clarity prior to free agency.