Daniel Snyder has reportedly bought out the minority owners of the Washington Football Team after the move was unanimously approved by NFL owners, according to ESPN and The Washington Post. This comes one week after it was reported that Snyder was planning on making the move.
Snyder reportedly bought the remaining 40.5% of the team from minority investors Fred Smith, Dwight Schar and Robert Rothman. The $875 million sale and $450 million waiver were both approved by the NFL.
Snyder needs to repay the debt by 2028, according to ESPN.
In November The Washington Post reported that a group of investors offered minority owners $900 million to sell their shares but Snyder blocked the move.
It’s been a turbulent year for the The Washington Football Team and Snyder. The team is going through a rebrand after removing its previous name and this summer The Washington Post released an investigation that detailed numerous sexual harassment claims centered around team executives.
The NFL has since started to oversee a third-party investigation that was initially launched by the Football Team after the Post’s revelations.
With this reported move, Snyder and his family gain complete control of the team that he bought from Jack Kent Cooke’s estate in 1999. The franchise holds a 149-202-1 record since then.