DAN SNYDER may be close to selling the Washington Commanders, according to reports.
The 57-year-old NFL owner is one of the most polarizing figures in the league and bought Washinton from the estate of Jack Kent Cooke in 1999.
Some Washington fans have voiced their feelings about his ownership from the stands this season, chanting “Sell the team” during games.
The Commanders are 4-4 this season and haven’t had a winning campaign since going 8-7-1 in 2016.
Who is Dan Snyder?
Born in Silver Spring, Maryland in 1964, Snyder is a successful entrepreneur and billionaire.
He launched his first company at just 17, before dropping out of the University of Maryland three years later.
Snyder claims to have made his first million dollars in his parents’ bedroom, renting jets to ferry students to spring break.
He got into wallboard advertising and made his fortune over the next two decades, slowly building his Snyder Communications brand.
Snyder became the youngest CEO of a company listed on the New York Stock Exchange at just 32 years old.
His parents owned stock in the company and sold their shares for $60 million.
When Snyder Communications was sold to a French advertising and marketing services group in 2000, it was valued at around $2 billion.
Snyder’s purchase of the Commanders in 1999 was, at the time, the most expensive deal in sports history.
But his tenure is far from successful on the ground.
Since Snyder’s takeover, Washington has gone through ten coaches and has a losing record of 158–214–1.
Forbes reports from Nov. 2 suggest he is looking to sell the team.
It’s still unclear if he would sell the whole team or if he’s just looking to add a minority partner.
Snyder married his wife Tanya Ivey in 1994, a former model, co-owner of Commanders.
The couple live in Alexandria and have three children.
A statement from the commanders on November 2 read: “Dan and Tanya Snyder and the Washington commanders announced today that they have hired BofA Securities to consider potential transactions.
“The Snyders remain committed to the team, all of its employees and its countless fans to bring the best product to the field and continue the work to set the gold standard for workplaces in the NFL.”
What is his net worth?
Snyder’s personal fortune was built over several decades.
His rise from college dropout to billionaire is often cited as an example of the American dream.
When he bought the Commanders for $750 million, Snyder borrowed $350 million.
The franchise itself is now estimated to be worth $4.2 billion.
According to Forbes, Snyder himself is worth $4.9 billion.
They ranked him number 211 on their 2022 richest 400 list.