The NFL world was hit with some shocking news on Wednesday when it was announced that Washington Commanders team owner Dan Snyder was hiring Bank of America to explore selling the team after several months of controversy and amid an investigation into allegations of sexual harassment, misogyny, and financial fraud.
If Snyder does decide to finally sell his franchise – much to the delight of Washington Commanders fans as well as the rest of the NFL world – it won’t happen overnight as there is a formal procedure that must be followed. In a statement to league insider Tom Pelissero of the NFL Network on Wednesday afternoon, the NFL outlined that procedure.
As for the investigation, @NFLprguy
says: "Mary Jo White is continuing her review. We have no update on a timeline."
— Tom Pelissero (@TomPelissero) November 2, 2022
“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),” the league’s statement said, according to Pelissero.
If Snyder does decide to go forward with the sale, it’s unlikely that the league will have any trouble getting the three-quarters vote required to confirm the sale of the team – especially considering that Indianapolis Colts owner Jim Irsay was confident that the league would have the three quarters vote necessary to remove Snyder as owner against his will.
There’s no clear timeline for how long the process could take, but it’s certainly a massive development.