\u201cIf the team hypothetically, hypothetically, were sold 100 percent, that would resolve things,\u201d Indianapolis Colts owner Jim Irsay said, speaking to reporters as he sat in a golf cart outside the hotel following the meeting. \u201cBut I don’t know where that [stands] now.\u201d<\/p>\n<\/div>\n
\n
Bruce Allen tested that NFL counsel said Commanders leaked Gruden emails<\/span><\/p>\n<\/div>\n\n
Irsay said there \u201creally wasn’t much of a conversation\u201d among owners Wednesday about Snyder and the Commanders, \u201cjust an update\u201d by NFL officials.<\/p>\n<\/div>\n
\n
Dallas Cowboys owner Jerry Jones said as he exited that he didn’t want to speak publicly about what the owners discussed. Jones said he \u201chad a good visit\u201d with Tanya Snyder.<\/p>\n<\/div>\n
\n
The Commanders announced last month that the Snyders had hired BofA Securities, a division of Bank America, to consider potential transactions related to the franchise.<\/p>\n<\/div>\n
\n
\u201cI think \u2026 that’s certainly a better solution, if that came to that,\u201d Irsay said of a potential sale. \u201cI know Dan is looking at \u2026 a sale. But I don’t know anything about it, if it’s a minority interest or a majority interest or something like that.\u201d<\/p>\n<\/div>\n
\n
Forbes estimated in August that the Commanders are worth $5.6 billion. The record sale price for an NFL franchise is the $4.65 billion a group led by Walmart heir Rob Walton paid this year for the Denver Broncos. The other NFL owners officially ratified that transaction in August.<\/p>\n<\/div>\n
\n
In 1999, Daniel Snyder led a group of investors that purchased the team and its stadium for $800 million from the Jack Kent Cooke estate. In March 2021, Snyder bought out his three limited partners \u2014 Dwight Schar, Fred Smith and Robert Rothman, who collectively owned about 40 percent of the franchise \u2014 for $875 million. That transaction required the other NFL owners to grant Snyder a waiver to take on an additional $450 million in debt, which he must repay by 2028 if he remains owner.<\/p>\n<\/div>\n
\n
Several people with knowledge of NFL transactions have said Snyder will face difficulty finding an investor willing to pay $1 billion to $2 billion to be his junior business partner unless the deal guarantees an opportunity to \u201cbuy him out\u201d and become the full or principal owner at a future date.<\/p>\n<\/div>\n
\n
Irsay said in October that he and fellow NFL team owners should give serious consideration to voting to remove Snyder from ownership of the Commanders. Doing so would require a vote of at least three-quarters of the owners. Multiple owners told The Washington Post in September they believed serious consideration would be given to attempting to oust Snyder from the league’s ownership ranks, either by convincing him to sell his franchise or by voting to remove him.<\/p>\n<\/div>\n
\n
Irsay said Wednesday that his position \u201chasn’t changed\u201d and he would \u201cneed more information\u201d to actually cast a vote to remove Snyder.<\/p>\n<\/div>\n
\n
\u201cI’m not ready to vote him out,\u201d Irsay said. \u201cI need to hear more. \u2026 I’d want to hear all my partners, and I’d probably want to hear from Dan first. \u2026 It’s a big deal when that sort of thing happens. I don’t know if we’ve ever done it as a league. \u2026 As an owner, you’re looking to get the exact details, and I have not gotten those yet.\u201d<\/p>\n<\/div>\n
\n
Amazon founder Jeff Bezos has interest in bidding for the Commanders, a person familiar with the situation has said, and his bid might include music mogul Jay-Z as an investor. Bezos owns The Washington Post. Other potential buyers include those who tried but failed to purchase the Broncos, a person familiar with the NFL’s inner workings has said. That includes Mat Ishbia, the president and CEO of United Wholesale Mortgage, and media entrepreneur Byron Allen.<\/p>\n<\/div>\n
\n
Daniel Snyder, Bruce Allen tested for hours. Here’s what they said.<\/span><\/p>\n<\/div>\n\n
other bidders for the Broncos who are expected to be in the running for the Commanders include Clearlake Capital co-founders Behdad Eghbali and Jose E. Feliciano, who previously attempted to purchase a minority stake in the Commanders from Snyder’s former limited partners; Josh Harris, the co-founder of Apollo Global Management and the owner of the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils; and Todd L. Boehly, the CEO of Eldridge Industries, the chairman of the Chelsea Football Club and a part-owner of MLB’s Los Angeles Dodgers, the NBA’s Los Angeles Lakers and the WNBA’s Los Angeles Sparks.<\/p>\n<\/div>\n
\n
Some prospective bidders believe if Bezos is intent on buying the team, his vast net worth would enable him to outbid other contenders, people with ties to the process have said. Bezos has declined to comment on his interest in the Commanders.<\/p>\n<\/div>\n
\n
Snyder and the Commanders are the subjects of a second investigation by the NFL, this one led by attorney Mary Jo White. Goodell said Wednesday that White \u201chas not been given a timeline\u201d by the league to complete the investigation.<\/p>\n<\/div>\n
\n
The House Committee on Oversight and Reform wrote last week in its final report on its Democratic-led investigation of the team’s workplace that Snyder gave evasive and \u201cmisleading\u201d testimony to the committee in July. The report said Snyder \u201cobstructed\u201d the committee’s investigation and that he \u201cpermitted and participated\u201d in the \u201ctroubling conduct\u201d in the team’s workplace.<\/p>\n<\/div>\n
\n
Goodell said Wednesday that the NFL \u201cfully cooperated\u201d with the committee’s investigation. He also said that a \u201cchange has occurred in the Washington Commanders organization. That’s verified by audit. So that’s the outcome that we were seeking.\u201d<\/p>\n<\/div>\n
\n
The office of DC Attorney General Karl A. Racine (D) filed two civil lawsuits against the Commanders. Maryland Attorney General Brian E. Frosh (D) fined the team $250,000 for improperly withholding security deposits from ticket holders, through a settlement with the Commanders. The US attorney’s office for the Eastern District of Virginia have interviewed witnesses about of financial improprieties involving the team, according to multiple people familiar with the situation. The office of Virginia Attorney General Jason S. Miyares (R) is also investigating.<\/p>\n<\/div>\n
\n
Mask and Jhabvala reported from Irving, Tex. Clarke reported from Washington.<\/i><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"Comment on this story Comment IRVING, Tex. \u2014 The investment bank hired by Washington Commanders owner Daniel Snyder is moving forward with the process for him to consider offers to purchase all or part of his franchise. Bank of America is poised to send what amounts to a prospectus for the team to qualified potential …<\/p>\n
Bank hired by Daniel Snyder moves forward on sale process for Commanders<\/span> Read More »<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[6],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nBank hired by Daniel Snyder moves forward on sale process for Commanders - harchi90<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n