Dan Snyder hired a bank to explore a sale of the Washington Commanders, according to a statement released by the team on Wednesday.
“Dan and Tanya Snyder and the Washington Commanders announced today that they have hired [Bank of America] Securities to consider potential transactions,” the team said in a statement.
“The Snyders remain committed to the team, all of its employees and its countless fans to putting the best product on the field and continuing the work to set the gold standard for workplaces in the NFL.”
The embattled owner reportedly already has “at least four calls” from groups interested in buying the team.
Per Forbes, the “transaction could be for the entire NFL team or a minority stake.”
Snyder has been embroiled in controversy for much of the past year, and it’s come to a boiling point over the past few months.
The NFL hired former United States attorney Mary Jo White in February to investigate former Washington Commanders employee Tiffani Johnston’s allegations of widespread workplace misconduct against Snyder.
White’s investigation has expanded to include alleged financial improprieties by Snyder — an issue that emerged during congressional committee hearings.
Then, at the NFL Owners’ meetings last month, and ESPN article accused Dan Snyder of having “dirt” on other owners.
Snyder denied the allegation in a letter to all 31 owners, saying the report contained “false and malicious” information.
Snyder bought the NFL’s Washington DC franchise for $750 million in 1999, borrowing $350 million to do so. According to Forbes, it’s now worth $4.2 billion.
Brian McCarthy, a spokesperson for the NFL, released a statement shortly after the news broke, saying any potential transaction would be presented to the NFL’s Finance Committee.
This is a developing story, please check back throughout the day.