Washington Commanders fans who have been hoping that Daniel Snyder would sell the team could soon get their wish. The franchise announced Wednesday that it has hired BofA Securities to consider potential transactions.

The announcement came shortly after Forbes reported that Snyder is exploring selling the Commanders. According to Forbes, Snyder could either sell the entire team or a minority stake in the franchise.

In their statement, the Commanders didn't deny that a sale of the entire team could be on the horizon. The statement also said that "The Snyders remain committed to the team."

Snyder has thus far resisted pressure to sell the Commanders. ESPN has reported that Snyder has accumulated dirt on other owners and executives in hopes that it will deter the league's owners from voting him out of the NFL.

Snyder was accused of sexual harassment and assault by a team employee in 2009. Under Snyder, the Commanders have been accused of having a toxic workplace culture that included allegations of sexual harassment over multiple decades.

Forbes has estimated that the Commanders are worth $5.6 billion. Sportico values the team at $4.78 billion. If the franchise is sold, it's expected to be bought for a record price.

The Denver Broncos were sold for $4.65 billion earlier this year. It set a record for any American professional sports franchise.

Tanya Snynder Dan Snyder Washington Football Team
Washington Commanders owner Dan Snyder, left, sits with his wife Tanya Snyder sits the audience as Ron Rivera is introduced as the Washington Commanders head coach on January 2, 2020 . John McDonnell/The Washington Post via Getty Images