Can the Washington Commanders go a single day without some sort of drama? A recent report indicates the franchise might have more financial concerns than previously thought.
According to Front Office Sports, an outside investigation recently uncovered some financial concerns relating to owner Dan Snyder. The findings came from the NFL‘s second outside investigation, led by former SEC chief Mary Jo White.
It’s believed that Snyder is one of very few owners in the NFL to pay himself a salary. Per the report, he paid himself $10 million before the COVID-19 pandemic. He then opted to eliminate his salary … but only temporarily.
Snyder started paying himself again last year and reportedly gave himself a raise.
White will investigate whether or not any loans received by the franchise were used improperly under Snyder. In 2021, the Commanders received a $450 million loan from the NFL.
A spokesperson from the team said, “the characterization of the White investigation 100% false.”
News of the latest alleged financial concerns comes as the Snyder family appears on the verge of selling the team. Recent reports indicate that a sale is “imminent,” though very few details have been provided.
Snyder purchased the Washington Commanders in 1999. The franchise has not enjoyed much success under his leadership, making just six playoff appearances in that stretch.
Snyder Family Reportedly Prepared to Sell Washington Commanders
News of the Snyder family potentially selling the Washington Commanders first surfaced in November. Although there were rumblings around the time, it’s picked up steam during the offseason.
A report from Pro Football Talk recently indicates that Dan Snyder and his wife, Tanya, cleared out of the facility. There have also been at least three potential bidders who have visited the facility in recent months.
“We’re also told that, within the building, the word being used regarding a potential sale is ‘imminent,’ Pro Football Talk reported. “Multiple sources said that a sale could be approved and announced as soon as the upcoming league meetings in Arizona.”
While specifics about the buyer(s) remain unknown, we do know that Amazon founder Jeff Bezos’ name continues to surface. He seems to be a likely candidate to purchase the team.
Additionally, others rumored to have interest in the franchise include Houston Rockets’ owner Tilman Fertitta and NBA and NHL owner Josh Harris. Harris currently owns the Philadelphia 76ers and New Jersey Devils.
If a sale does come to fruition, a minimum of 24 owners must approve of the sale in order for it to be finalized.