The Washington Football Team, owned by Daniel Snyder, may be sold in stages, according to reports. The National Football League (NFL) is said to be in talks with potential buyers about purchasing minority stakes in the team, with a view to eventually taking control.
The potential sale comes after a turbulent period for the franchise, which has faced accusations of sexual harassment and mistreatment of female employees, as well as controversy surrounding the team’s name and use of a racist slur.
Daniel Snyder, who has owned the team since 1999, has faced calls to sell the franchise from fans, sponsors, and even politicians. In 2020, after pressure from corporate sponsors, the team announced it would retire its controversial name and logo. It is now known as the Washington Football Team.
The NFL has been investigating the allegations of sexual harassment and misconduct within the Washington Football Team, and Snyder has faced pressure to sell the franchise as a result. The league fined Snyder $10 million in July 2021 for his role in the misconduct within the team.
According to a report from the Washington Post, Snyder is open to the idea of selling minority stakes in the team, but does not want to relinquish control. The report cites sources who say that Snyder has had conversations with potential buyers, including Jeff Bezos, the founder of Amazon.
The NFL has not commented publicly on the potential sale of the team, but league insiders say that the idea of selling minority stakes is not uncommon. Several NFL teams have sold minority stakes in recent years, including the Kansas City Chiefs, which sold a 49% stake to a group of investors led by Patrick Mahomes.
The sale of minority stakes could be a way for Snyder to retain control of the team while bringing in new investors and potentially reducing his financial exposure. It could also pave the way for a future sale of the team, with the minority stakeholders having the option to purchase a larger stake or take control of the franchise if Snyder were to step down or sell his shares.
However, the potential sale of minority stakes has also raised concerns among some fans and observers, who fear that it could lead to further entrenchment of Snyder’s control over the team, rather than bringing in new ownership and fresh ideas.
In recent years, the NFL has seen several high-profile sales of teams, including the Carolina Panthers, which were sold for a reported $2.2 billion in 2018, and the Buffalo Bills, which were sold for $1.4 billion in 2014. The potential sale of the Washington Football Team, one of the league’s most valuable franchises, could generate significant interest and command a high price.
As the NFL continues to investigate the allegations of misconduct within the Washington Football Team, the potential sale of the franchise will be closely watched by fans, investors, and the wider sports world. It remains to be seen whether Snyder will ultimately sell the team, and if so, who the new owners will be.
