Minority owners of the Washington Football Team are reportedly pressuring owner Dan Snyder to sell the team. FedEx CEO Fred Smith, Black Diamond Capital Chairman Robert Rothman, and NVR Inc. Board Chairman Dwight Schar have hired an investment firm to sell their shares, which make up 40% of the team. They would likely see their ownership value increase if the entire team was sold.
There is no indication Snyder intends to sell and he recently filed a lawsuit that claims one of the minority owners is behind a defamatory plot against him. Snyder bought the team in 1999 for $750 million. Forbes recently valued the Washington franchise at $3.4 billion.
The pressure to sell is just the latest issue for the team, which recently retired its racist moniker after decades of protest. A detailed report from The Washington Post also revealed a toxic office culture within the organization. Since the report, the Washington Football Team has hired a law firm for an internal investigation.
Last 5 NFL Team Sales
2018: David Tepper purchased the Panthers for $2.75 billion
2014: Terry & Kim Pegula purchased the Bills for $1.4 billion
2012: Jimmy & Dee Haslam purchased the Browns for $1 billion
2012: Shad Khan purchased the Jaguars for $770 million
2010: Stan Kroenke purchased the Rams for $700 million