Will Commanders Scandals Affect Potential Franchise Sale?
The Washington Commanders could be entering a new chapter in franchise history if co-owners Dan and Tanya Snyder follows through with selling the team.
The Snyders are facing multiple scandals surrounding the Commanders, stemming from sexual harassment, workplace misconduct and being accused of sending false ticket revenue information to the league.
While Snyder is battling these allegations, Front Office Sports reports that the scandals won't affect the timeline of the sale and that the vote between the other 31 owners could take place in late March during the league's annual meetings.
FOS also says that Snyder will likely have to open an escrow account that will help pay the penalties and damages that may be a result of the investigations surrounding him. He'll pay those penalties with the money he receives from the sale of the Commanders.
Last week, the Snyders hired Bank of America Securities "to consider potential transactions."
There is reason to believe that the Snyders could receive bids up to $7 billion to give up their stake in the franchise, one that has brought controversy and drama since they purchased the team back in 1999.
The Commanders are receiving "considerable" interest in several prospective owners. TMZ Sports is reporting that media mogul and rapper Jay-Z and Amazon founder Jeff Bezos met in Los Angeles Monday, days after both billionaires publicly expressed interest in buying the Commanders.
Former Washington quarterback Robert Griffin III is also looking to build a group of several investors to chip in to make the expensive purchase.
"I'm down to pay for a stake,'' Griffin wrote, meaning that he would be interested in being a minority owner of the Commanders in partnership with a big hitter, "and bring 10 fans along for the ride.''
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