How much did Dan Snyder pay for the NFL's Washington franchise? All you need to know about Commanders' previous sale

The purchase of the Washington Redskins and Jack Kent Cooke Stadium by a group led by Dan Snyder for $800 million, a record for a U.S. sports team at the time, was approved by the NFL owners in a unanimous decision in May 1999.

Snyder quickly positioned himself as the club's top decision-maker despite having no prior knowledge of the sport. Expectations and hopes for this new phase of Redskins football were raised after Snyder's debut 10-6 season and the team's first appearance in the postseason since 1992.

In 2023, however, it appears Snyder has reached a deal to sell the franchise. According to Sportico, a group led by Philadelphia 76ers co-owner Josh Harris and NBA legend Magic Johnson have reached a deal with Snyder for a sale of the franchise amounting to a shade below $6 billion.

Should the sale be formalized without a hitch, it would make the Washington Commanders sale the most expensive NFL franchise sale of all time after the Denver Broncos sale last year ($4.6 billion).

In his tenure, Dan Snyder has raised the team's earnings from over $100 million to over $544 million. In addition, in 2007, the team surpassed all others in NFL revenue.

The U.S. House Committee on Oversight and Accountability and other government authorities have launched a probe into Snyder's administration of the team due to allegations of a toxic work environment, misappropriations, and the club's overall instability.

The Commanders have only had a 164-220-2 regular-season record under Snyder's leadership. The team's .427 win rate throughout that span is the sixth-worst in the league. Since 2005, the franchise has not gone past the Divisional Round.

In 24 years, Snyder has gone through eight full-time coaches due to his ongoing disagreements with the football decision-makers on his team. The Commanders were named the worst NFL club to play for in a 2023 study by the NFL Players Association after players gave the organization low grades for its care of families, food, and facilities.

Snyder's era might be approaching its conclusion. Snyder, the focus of numerous inquiries, is thinking about selling the Commanders and leaving the NFL.

New bids have reportedly been submitted for the Washington Commanders

The two parties have officially made $6 billion ($4.85 billion) bids for the Washington Commanders as the NFL team gets ready to be sold by original owner Dan Snyder.

As per NFL insider Adam Schefter, Josh Harris of the Mitchell Rales group made the first offer. After being pressured to sell the brand, Snyder announced a valuation of £4.85 billion ($6 billion), which has now been met. Shortly after, Canadian millionaire Steve Apostolopoulos also equaled the bid.

What is Dan Snyder’s net worth?

Dan Snyder, a dropout from college and Charles W. Woodward High School alumnus, once scrubbed and swept the cafeteria grounds at the National Institute of Health while still in high school.

His diligence garnered him the distinction of being the youngest president of a publicly traded firm on the New York Stock Exchange in 1996.

As a dropout, Dan Snyder founded the marketing firm Snyder Communications and quickly became wealthy. Snyder's net worth is projected to be $4.9 billion as of 2022.