Dan Snyder hires BofA to explore Washington Commanders sale

Yahoo Finance Live anchors discuss Washington Commanders owner Dan Snyder potentially considering a sale of part or all of the team.

Video Transcript

DAVE BRIGGS: Is the record for the highest selling professional sports team about to fall? That's the question with news of the Washington Commanders announcement today. Owner Dan Snyder has hired Bank of America Securities to consider, quote, "potential transactions involving the franchise."

Now, Congress and the NFL continue to investigate Snyder over a toxic work culture, as well as an allegation of sexual misconduct. Snyder has already been fined $10 million by the League. And Snyder reportedly paid $750 million for this team in 1999 that, today, Forbes values at $5.6 billion. And Seana, once you get a name like, oh, let's say, Jeff Bezos involved, which I believe is actually a possibility here, unlike the previous rumors, you're talking north of $6 billion-- easy for this team.

SEANA SMITH: Yeah, it's going to be interesting to see, one, who is interested in buying this team. Of course, more details just in terms of the sale. Haven't-- we don't have those yet. So I think that's going to be critical just in terms of identifying a potential buyer. But that value is really incredible.

You mentioned the fact that now it's worth-- Forbes estimates it's now worth $5.6 billion. Snyder owned the team-- has owned team since '99. He paid $800 million for it. That really speaks, Rachelle, to the astronomical rise that we have seen in the value of teams in the NFL. And certainly, this getting a lot of attention, and it will be interesting to see who exactly gets involved. It would be fun if it was Bezos.

DAVE BRIGGS: It'd be great.

SEANA SMITH: It'd be great.

DAVE BRIGGS: Great for the game.

RACHELLE AKUFFO: I mean, I'll say, obviously, the Commanders, my local team. I've been watching them since I was in college back in the 1900s. But a lot of people, like when you look at some of the mixed reactions to this news, some people doing happy dances, a lot of people wondering, why is he even selling? A lot of people thought that Dan Snyder would never sell. Now it's important to note that they did list in that statement they were exploring potential transactions.

ESPN tweeting, it's unclear if this means they're exploring a sale of the franchise as a whole or seeking a minority owner. I thought it was interesting that former Washington quarterback RG3 said-- he tweeted, who wants to be a minority owner of the Washington Commanders? I'm down to pay for a stake in the team and bring 10 fans along for the ride. So who knows? Who knows where this is going to go? Still early days, but clearly, a lot of interest in this, Seana.

SEANA SMITH: Certainly early days. And Congress is still investigating Dan Snyder. The NFL investigating Snyder for a second time. So be interesting to see how this all plays out.