Dan Snyder clear to buy 100% of Washington Football Team originally appeared on NBC Sports Washington
Dan Snyder tightened his grip on the Washington Football Team with the news that the NFL owners cleared his path to complete ownership of the franchise according to multiple reports.
In a league-wide vote, owners approved a waiver to the NFL’s ownership debt limit that will allow Snyder to borrow as much as or more than $450 million. In turn, Snyder intends to pay $875 million for the 40.5% of the Washington Football Team that’s currently for sale by his minority partners.
When the deal is complete, Snyder and his family members will own 100% of the team.
Prior to this deal, Snyder had been fighting a number of legal battles with his former minority partners with many details spilling out into the public.The fight loomed in what’s been a tumultuous year for the Washington Football team. In addition to the ownership fight, there’s a pending NFL investigation into sexual harassment and workplace culture amid a series of disturbing reports published by The Washington Post in a series of articles. The team also changed its longtime controversial name under pressure from the public and Snyder’s minority partners.Now Snyder no longer will have to deal with Robert Rothman, Dwight Schar or Fred Smith. It was Snyder’s ongoing courtroom tangles with Schar that caused the most trouble for the league. The accusations were intense and often the language was ugly.That stuff should go away now. Should.
Going forward it’s reasonable to assume Snyder could bring in other minority partners, selling a share of the team to pay down some of the debt accrued during the transaction. That might not happen too, just something to consider.What’s now clear is that the league opened a path for Snyder to continue his ownership of the Washington Football Team.