Washington NFL team’s minority shareholders looking to sell
The Washington NFL team is undergoing a major transformation after dropping its “Redskins” nickname, but that isn’t the only significant change the franchise could be making ahead of the 2020 season.
ESPN’s Adam Schefter reports that minority shareholders of the Washington team have hired an investment bank to assist them with selling their stakes in the organization.
Minority shareholders of Washington’s NFL team have hired the investment bank, Moag & Company, to vet buyers and to sell their stake in the team, per a league source.
— Adam Schefter (@AdamSchefter) July 16, 2020
A report from earlier this month indicated some of Washington’s owners were looking to sell, and majority owner Daniel Snyder’s refusal to change the team’s name for so long apparently played a role in that. There was also speculation that the minority shareholders could be angling to get Snyder to sell.
Washington recently fired some high-level executives, and a big story about the firings is expected to come out at some point in the near future.
Snyder has been the owner of Washington since 1999. He has been criticized over the years for his stubbornness with changing the team’s nickname in addition to the poor results on the field.