Dan Snyder Hires Bank Of America To Sell Washington Commanders

Sources tell Forbes that BofA Securities is selling the Washington Commanders.

There have been at least four calls from groups interested in buying the team. A transaction for the entire team or a minority stake is one of the possibilities being explored by the bankers.

The purchase of the Los Angeles Clippers by Steve Ballmer was handled by Bank of America.

When he bought out his minority partners in the Commanders, he and his family became the sole owners. As the values of the teams in the National Football League have gone up, it was a smart move by the owner.

Rob Walton, the heir to the retail fortune, bought the Denver Broncos for $4.75 billion in August. Forbes valued the Commanders at $5.6 billion, ranking them sixth in the league. The team's headquarters and FedEx Field are both owned by the team's owner.

Revenue has gone up as the club has changed its name to the Commanders. The team landed its most lucrative sponsorship deal ever with SeatGeek, as team sponsorship revenue is surging.

Since joining the National Football League in 1932 as the Boston Braves, the Commanders have only had three owners, all of whom have been from out of town. A new stadium could be ready in five or six years.