Daniel Snyder wants total control of his football team, and it looks like he’s going to get it. The Washington Football Team owner will gain almost complete control of his team after the NFL’s finance committee cleared the way for him buying out his minority investors. The NFL finance committee approved Snyder’s application for a $450 million debt waiver, an NFL spokesman confirmed.
Per source, Daniel Snyder's purchase of the minority interests in his team does not end his defamation lawsuit pending in India; however, he has waived as part of the purchase any claims against his soon-to-be former partners.
— ProFootballTalk (@ProFootballTalk) March 24, 2021
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The other owners will vote at the league’s annual meeting next week on whether to approve the deal. Snyder needs 24 of the 32 owners to vote in favor of the transaction.
The news was first reported by Tyler Dunne of GoLongTD.com.
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
For those fans who were hoping to get rid of Snyder, looks like that’s not happening.