There has been talk since last year that the minority owners of the Washington Football Team could force Daniel Snyder to sell the franchise, but the opposite is apparently happening.
Tyler Dunne of Go Long reported on Wednesday that Snyder is buying out the minority owners’ stake in the Washington Football Team, which is 40.5 percent. The deal has already been approved by the NFL finance committee.
Go Long news this AM: Washington Football Team majority owner Dan Snyder is buying out the minority owners’ 40.5 percent stake in the team. Snyder requested a debt waiver for 450 million to fund the deal. The deal has been approved by the NFL finance committee.
— Tyler Dunne (@TyDunne) March 24, 2021
It’s difficult to understand the motivation behind the move without knowing more details. Some are speculating that Snyder could be positioning himself to sell the Football Team as a whole, though there has been no indication he will do that.
The NFL has been investigating allegations of workplace misconduct involving Snyder’s team. A story that was published in The Washington Post back in July detailed sexual harassment allegations against five former employees of the then-Redskins. Snyder was not directly accused of anything, but some wondered if the scandal could result in him being forced to sell the franchise.
Mike Florio of Pro Football Talk believes Snyder’s purchase suggests there will not be a forced sale of the franchise and that Snyder will likely face a significant fine for the workplace issues.
A separate report that came out months later revealed that Snyder paid $1.6 million to settle a sexual misconduct claim in 2009. The settlement did not include any admission of wrongdoing from Snyder of the team.
Snyder filed a lawsuit late last year accusing one minority owner of extortion.
