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Majority owner of the Washington football team, Dan Snyder, has agreed to buy the shares held by the team’s sponsors, a league spokesperson said, end a boardroom brawl within an NFL franchise that has been mired in controversy on many fronts.
Minority owners – the CEO of FedEx Corp. rather, the process produced an exchange of fire between the parties.
The limited partners had taken Snyder to arbitration, alleging he had violated their shareholders’ agreement, and the feud grew more and more unpleasant over the months. After taking him to court, Snyder’s attorneys accused the minority owners of trying to force Snyder to sell the team and engage in a smear campaign against him when he refused.
The sale, which was first reported by golongtd.com and yet to be approved by the owners at a future meeting, will give Snyder and his family full control of the franchise he first purchased in 1999.
A spokesperson for the team declined to comment on the sale. An NFL spokesperson said the league’s finance committee approved a $ 450 million debt waiver to help facilitate the deal. The New York Times reported the sale was $ 875 million.
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