Washington Commanders Owners Dan and Tanya Snyder Exploring Selling the NFL Team

Rob Carr/Getty Dan and Tanya Snyder

Dan and Tanya Snyder, the co-owners of the Washington Commanders, created quite a stir in Washington, D.C. on Wednesday when they announced they were exploring the possibility of selling the NFL team.

Twenty-three years after buying the Commanders, the couple appears to be entertaining the idea of selling — or adding a minority owner to — the team, according to a statement shared with PEOPLE on Wednesday. The Commanders stated that the Snyders "have hired BofA [Bank of America] Securities to consider potential transactions."

Even though the statement didn't explicitly state the team was going to sell, as The Wall Street Journal reported, hiring a bank is a common first step in the process.

When asked by PEOPLE what buying options the team was entertaining, a team spokesperson said, "We are exploring all options."

RELATED: Washington Football Team Rebrands as the Commanders: 'Excited About the Future'

And Forbes, which broke the news this morning, pointed out that Bank of America has experience facilitating the sale and purchase of a professional sports team after working with Steve Ballmer on his acquisition of the Los Angeles Clippers in 2014.

Dan, 57, and Tanya, 60, have already had at least four phone calls with parties interested in purchasing the team, according to Forbes.

The Snyders have faced a fair amount of controversy in recent years, with internal and external investigations looking into the team's workplace environment after multiple accusations of sexual and verbal assault surfaced.

Jonathan Newton / The Washington Post via Getty Dan Snyder

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And the accusations aren't sitting well in the league — during a recent NFL owners meeting, the possibility of "ousting" the Snyders as owners of the Commanders was apparently discussed among attendees, according to Sports Illustrated.

Though it's not clear what the future holds, the Snyders said they are still very focused on the Commanders.

"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 statement concluded.

After years of criticism — and two years after dropping its "Redskins" moniker — the NFL franchise was renamed the Commanders, the organization announced February along with a fresh logo and new uniforms.

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TODAY's Craig Melvin spoke about the change with team president Jason Wright, senior advisor Doug Williams and team captain Jonathan Allen, who said he and the rest of the organization "are excited about the future."

Wright told Melvin that the new name "has the weight and meaning befitting of a 90-year-old franchise."

"It resonated with our fans and it's something we believe embodies the values of service and leadership that really define the DMV in this community," Wright said.

"It's also something, importantly, that we can own and grow for the next 90 years and it's something that can allow us to tie the rich history and championship legacy of this franchise to new traditions in the future."