The owner of most of the Washington football team, Dan Snyder, has agreed to buy the shares held by the team’s limited partners, a league spokesman said. ending a fight in the boardroom in an NFL franchise that has been embroiled in controversy on numerous fronts.
Minority Owners – FedEx Corp. CEO Fred Smith, President of Black Diamond Capital, Robert Rothman and Dwight Schar, Chairman of the Board of NVR Inc. – they had tried to sell their stake in the team, worth about 40% of the club, but the process instead produced a fighting fire between the parties.
The limited partners brought Snyder to arbitration, claiming that he had violated the agreement of their shareholders, and the dispute became increasingly ugly over the months. After taking him to court, lawyers for Snyder accused the minority owners of trying to force Snyder to sell the team and engage in a chilling campaign against him, when he refused.
The sale, which was first reported by golongtd.com and yet it must be approved by the owners at a future meeting, it will give Snyder and his family full control over the franchise he first bought in 1999.
A team spokeswoman declined to comment on the sale. An NFL spokesman said the league’s finance committee approved a $ 450 million waiver to facilitate the transaction. The New York Times reported that sales were $ 875 million.