Dan Snyder buys 40.5% stake of 3 minority owners in Washington football team


The fight between Washington football team Majority owner Dan Snyder, and three minority owners (Fred Smith, Dwight Schar and Robert Rothman) could finally end soon. The dispute became very bitter, especially between Snyder and Schar, and multiple lawsuits were brought between the two billionaires in the United States and abroad. The minority owners attempted to sell their shares in bulk and reportedly had buyers lined up earlier. Exercising his right of first refusal, Snyder said he would buy shares in Smith and Rothman, but not in Schar.

Separately, there was also speculation that Amazon founder Jeff Bezos may have been interested in buying the team as he sought to own the NFL.

The NFL has entered arbitration to settle the dispute between Snyder and his minority partners and to prevent more dirty laundry from being released to the public.

This story is also linked to the ongoing Dan Snyder investigation and accusations of sexual harassment in the workplace. Lawyer Beth Wilkinson led him for the league after he was initially hired by Snyder. His report is due soon, but The New York Times says Snyder will only pay a fine as a result.

The NFL finance committee has already approved a deal that would see Snyder buy back the 40.5% stake held by the three minority owners.

There have been two reports of the price Snyder will pay ($ 950 million and $ 875 million). This always requires the approval of the entire group of owners. The owners meeting is scheduled for next week, and they will vote on the pending sale. Snyder needs two-thirds of his co-owners to approve his consolidation of power.


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