Daniel Snyder buys out his limited partners

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The fight between Daniel Snyder and his limited partners is now over.

PFT has confirmed that Snyder has struck an agreement to purchase the interest of his limited partners, Fred Smith, Robert Rothman, and Dwight Schar. Together, they own more than 40 percent of the team. Snyder will control all equity in the franchise, once the deal is finalized.

The news was first reported by Tyler Dunne of GoLongTD.com, who adds that Snyder has requested a debt waiver for the $450 million necessary to fund the purchase, and that the deal has been approved by the NFL finance committee.

The purchase price isn’t clear. It will reveal the broader valuation of the team.

As a source with knowledge of the situation explains it to PFT, final approval by ownership is expected to be secured next week, when the owners conduct an annual meeting via videoconference.

The transaction ends months of acrimony and litigation between and among Snyder and his partners. Late last year, the minority partners filed suit aimed at forcing Snyder to exercise a right of first refusal as to all of them, without the ability to pick and choose. With the ability to secure a debt waiver, Snyder will now give them want they want — an exit for all three of them.

46 responses to “Daniel Snyder buys out his limited partners

  1. I feel sorry for WFT fans. This will give them exactly what they did not want – a guarantee of decades more of dysfunction.

  2. I love it! I guess in the end the last man standing was after all the guy with the pot of gold. How the media and his enemies who predicted his demise must hate this! Go Redskins!

  3. I don’t want Snyder buying shares of the WFT. I want him selling all his shares. When is the NFL going to realize that Snyder has run a once great franchise into the ground?

  4. Imagine owning 60% of a company and running it directly into the ground… now imagine owning 100%

  5. What’s crazy is that Texans fans would probably take Snyder as owner over bumbling McNair…

  6. PFTSelectiveCensorship says:
    March 24, 2021 at 9:38 am
    Good.. Let all the SJW’s start crying….
    =======================================

    You must not be a fan of the NFL. He’s taken a once-premier franchise and turned it into a joke. I don’t see how any fan of pro football could be happy with that.

    As a Washington fan, the word that came to mind when I read that headline was “Ugh!” Being a fan of this team is exasperating.

  7. Hahahahajajaja! That’s really all I can say. Feel really bad for Wash fans. They are a good bunch with a great history and deserve better.

  8. Not a WFT fan, but I am becoming more of a Dan Snyder fan. Guy is a fighter. I truly believe he is committed to changing the culture, and doing so quickly. And I think he is letting the football people run the football team now.

  9. Yes! More Daniel Snyder is great for the rest of the NFL. One less team to worry about as competitive. Enjoy the dysfunction and 6-10 record!

  10. Eagles fan here. As terrible as Philly will be for the next few years, this is news that all of us in the NFC East can celebrate together!

  11. I know one guy who won’t be happy, and that’s the guy who’s been trying to buy the WFT for years – Bezos

  12. Business lesson- the only kind of ship that doesn’t sail is a partnership. Own your own, if you take on partners in business, it almost always ends up a mess. Just saying.
    Now we’ll see how things change (or don’t change or get worse) for the Washington Football Team

  13. It’s a TRAP! says:
    March 24, 2021 at 9:50 am
    Imagine owning 60% of a company and running it directly into the ground… now imagine owning 100%

    /////

    Not exactly true, the value of NFL teams has grown exponentially, and this one in particular, the value has grown to at minimum 3 times what he paid.

    Not exactly running it in the ground financially

  14. The gleam you see in the sky is coming off of the smiles from the rest of the NFC Least teams…

  15. The team is worth 3.5B according to Forbes. According to several outlets Snyder paid $875M for that 40% minority stake?

    40% of 3.5B is 1.4B. Seems like the minority owners got fleeced.

  16. Eagles fan here. Yadda, yadda, yadda…

    ———-

    Philly makes Washington look like KC

  17. cookerduff123 says:
    March 24, 2021 at 10:37 am
    Eagles fan here. As terrible as Philly will be for the next few years, this is news that all of us in the NFC East can celebrate together!
    ——————
    Lots to celebrate in the NFC east.

    The Eagles got rid of their Superbowl winning coach, to keep their QB, who they traded away anyways.

    The Cowboys just paid $160M to a QB whose foot almost fell off.

    Dan Snyder has complete control over the WFT.

  18. FTSelectiveCensorship says:
    March 24, 2021 at 9:38 am
    Good.. Let all the SJW’s start crying….
    ———————————————————————————————-
    The only people crying are Washington fans because Snyder will now be free to unleash his ignorance on running a football team without anybody being in a position to stop him . So to set the record straight the poor NFL owners made less money in 2020 so the salary cap had to be reduced and will continue to be for the next few years but Snyder can get a debt waiver for $450M just so the NFL can keep from having it’s dirty laundry aired in public .

  19. “The team is worth 3.5B according to Forbes. According to several outlets Snyder paid $875M for that 40% minority stake?

    40% of 3.5B is 1.4B. Seems like the minority owners got fleeced”

    The minority interest is worth less than a simple proportion of the percentage total to the total business valuation. Minority interests are generally illiquid, and for the most part cannot be sold without the majority owner approval. Also, the minority interest has no power to direct the business.

  20. Well at least last year he decided to step back and let football people form the team.

    That’s a good sign. Maybe 20 years of dysfunction was the trick. He’s getting older and probably finally tired of the embarrassment.

  21. “The gleam you see in the sky is coming off of the smiles from the rest of the NFC Least teams…”

    yea, cause the other teams have such great owners ? The WFT is up and coming. 9-7 will win the division. Jurrah has the medaling mantle for life now that Danny has stepped back.

    WFT is all good now. RON’s PLAN, RON’s PLAN.

  22. Been a fan for 40 years. Say what you want, but Snyder is on the right track. That being said, none of his offseason distractions had any impact on Ron Burgundy righting the ship. Snyder is finally going to do what he should’ve been doing since he bought the team. Signing checks. Just wait for this season. Back to back East Champs coming to DC.

  23. What a disaster. It is like one of those dystopian SCI-FI’s in which in an alternative universe the German wins WWII. All of the DMV is in morning today.

  24. I wonder if the team will be named the Amazons if Jeff Bezos makes an offer Snyder cannot refuse.

  25. Ah yes. Danny boy. The man who imposed his will and forced the team to draft Dwayne Haskins as their #1 pick when Haskins was not even on the
    Washington draft board.. Sure let’s ensure he has even more power. I give Rivera 2 more years tops.

  26. Does this make it harder or easier for the league to force him to sell once the final report about his unconscionable care-taking of a once-proud franchise is made public?

  27. Been a fan for 40 years. Say what you want, but Snyder is on the right track. That being said, none of his offseason distractions had any impact on Ron Burgundy righting the ship. Snyder is finally going to do what he should’ve been doing since he bought the team. Signing checks. Just wait for this season. Back to back East Champs coming to DC. —— Yeah, just like he was finally on the right track when he hired Marty….and when he hired Joe Gibbs II…and when he hired Shanahan… Been there, done that, heard it all before. Snyder is the one and only problem with this franchise and he lacks the business sense and people skills to bring it back.

  28. To the earlier note about valuation, don’t trust Forbes valuations. I don’t think anyone is going to pay $6-7 Billion for the Cowboys, yet Forbes claims that as their “worth.” Teams just aren’t nearly that profitable to justify any valuation like that. Long-term, what have teams’ growth rates been, 6-7%, maybe?

  29. Well this really sucks. Just when we were getting excited about the upcoming season.

  30. By waiting until the new media deals were announced, the limited partners surely got waaaaay more for their pieces than they were worth only two weeks ago. All NFL franchises say big boosts in value based on new media rights deals.

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