Snyder to Buy Out Other Washington Owners, Pending Approval
Dan Snyder is buying out the Washington Football Team's minority owners and will become the sole owner of the club. An NFL spokesman confirms that Snyder's application for a debt waiver of $450 million was approved by the finance committee and that the deal is pending approval from team owners. Three-quarters, or 24 of 32 teams, need to sign off to make it happen. Fred Smith, Dwight Schar and Bob Rothman currently own 40.5% of Washington Football Inc. They have been mired in a court dispute with Snyder over their shares of the team. This effectively settles that matter and puts Snyder completely in charge of the team.