NFL owners will vote next week on a measure allowing Washington Football Team Owner Dan Snyder to buy out his three minority partners’ combined 40.5% share, according to sources, a move that comes after months of acrimonious feuding in court.
The purchase would give Snyder and his family 100% control of the team.
Owners must approve the sale itself and a waiver to debt limits that would allow Snyder to take on an additional $450 million in debt to execute the transaction, which has already been approved by the finance committee. Snyder will pay $875 million for the stakes held by NVR Inc. Chairman Dwight Schar, Black Diamond Capital CEO Robert Rothman and Fred Smith, chairman and CEO of FedEx, sources confirmed.
