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Fed Investigating Commanders Finances, Snyder Exploring Sale

Anthony DiMoro

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Dan and Tanya Snyder, co-owners and co-CEOs of the Washington Commanders(AP Photo/Patrick Semansky)

The Washington Commanders franchise is set to undergo yet another challenging situation as Wednesday brought about more news that puts the franchise's future in uncertain waters.

Earlier in the day a report from ESPN stated that Commanders co-owners Dan and Tanya Snyder announced that they have hired Bank of America Securities to explore potential transactions involving the team.

"The Snyders remain committed to the team, all of its employees and its countless fans to putting the best product on the field and continuing the work to set the gold standard for workplaces in the NFL," the team said in the statement.

NFL spokesman Brian McCarthy said in a statement: that "any potential transaction would have to be presented to the NFL Finance Committee for review and require an affirmative vote by three quarters of the full membership (24 of 32 teams)."

Following that, attorneys Lisa Banks and Debra Katz, who represent over 40 former employees of the organization, welcomed the news:

"Today's news that Dan and Tanya Snyder are exploring selling the Washington Commanders is a good development for the team, its former and current employees, and its many fans. We will have to see how this unfolds, but this could obviously be a big step towards healing and closure for the many brave women and men who came forward," they said in a joint statement.

But that news was not the end of the day for the Commanders, and things are looking worse now.

According to ESPN's Don Van Natta Jr., the U.S. attorney's office in the Eastern District of Virginia has opened a criminal investigation into allegations that the Commanders engaged in financial improprieties, going on to say that prosecutors are focused on several areas, and that the inquiry was triggered by a letter the House Committee on Oversight and Reform sent to the Federal Trade Commission and several attorneys general in April that alleged deceptive business practices.

Additionally, attorneys in both Virginia and Washington, D.C are also conducting investigations regarding allegations of financial impropriety.

Commanders team spokeswoman Jean Medina did not initially comment, but released a statement from Commanders' attorney John Brownlee of Holland & Knight - "It is not surprising that ESPN is publishing more falsehoods based solely on anonymous sources -- given today's announcement," the statement read. "...We are confident that, after these agencies have had a chance to review the documents and complete their work, they will come to the same conclusion as the team's internal review -- that these allegations are simply untrue."

NFL spokesman Brian McCarthy said: "We will decline comment."

Stay tuned for more as this news develops

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