- Oops!Something went wrong.Please try again later.
The man who sang 99 Problems could soon own a piece of a team that has had nearly as many in recent years.
We’ve tripped across an item from TheSpun.com regarding a report from BurgundyBlog.com, as confirmed by J.P. Finlay of NBCSportsWashington.com, which indicates that Jay-Z is “actively divesting” assets in order to buy a piece of the Washington Football Team.
Majority owner Daniel Snyder has bought out (or is still in the process of buying out) a trio of minority partners who had been trying to sell for an extended period of time. Snyder will have 100 percent of the equity, and he then would be able to sell pieces of it to Jay-Z or to anyone else.
The problem with being a minority owner is that there’s no real power, and typically no path to control. However, getting approved to own a piece of the any team positions that person to potentially buy a team of his or her own.
It won’t be easy, for Jay-Z or anyone else. As legalized gambling continues to spread throughout the country, franchise values will continue to grow and grow. The more time passes, the more expensive it will be to buy any teams that may become available.
Some think that the Washington Football Team eventually could become available, if the debt that Snyder is assuming in order to buy out his minority partners puts him in a financial pinch. For now, though, Snyder is intent on keeping the team, so that his children eventually can own and operate it.
Is Jay-Z looking to buy a piece of the Washington Football Team? originally appeared on Pro Football Talk