Home football Washington Football Team Minority Shares Traded for Nearly $1 Billion

Washington Football Team Minority Shares Traded for Nearly $1 Billion

by archysport

Daniel Snyder is the controversial majority owner of the Washington Football Team. Now, the billionaire moves to buy the percentages of the franchise’s minority shareholders, who were dissatisfied with how the organization was being run. The total value of the purchase will be in the house of an impressive 950 million dollars (R$ 5,250 billion) for just over 40% of the franchise. The information is from Mike Florio, from NBC.

In this way, Snyder will be the full owner of the franchise in the American capital. The agreement takes place during a period of dissatisfaction by the minority owners, who were upset by the complaints related to moral and sexual harassment within the organization, in addition to the delay in taking a decision to change the former name of WFT. The Redskins were a term offensive to Native Americans.

Washington is also undergoing an NFL investigation over reported cases of bullying and sexual harassment. Some media names speculate that after the lawsuit ends Daniel Snyder may be forced to sell the franchise by the NFL itself. However, the league’s authorization to buy the minority shares indicates that Snyder can emerge unscathed from the bonfire he has entered.

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