Report: Dan Snyder blocking sale of limited partners, legal battle ensues

JP Finlay
·1 min read

Report: Dan Snyder blocking sale of limited partners, legal battle ensues originally appeared on NBC Sports Washington

Three minority partners of the Washington Football Team want to sell their 40 percent stake in the team but majority owner Dan Snyder is holding up the sale, and according to a new report in the New York Times, the minority partners are now asking a federal judge to step in. 

Fred Smith, Robert Rothmann and Dwight Scharr own 40 percent of the Washington team and have agreed to a $900 million price. Snyder, however, has offered to buy out Smith and Rothmann's shares but doesn't want to allow Scharr's 15 percent sale to go through.

According to a court filing reviewed by the Times, Snyder has given legal notice to the limited partners that he will exercise his right of first refusal.

The legal fighting between Snyder and Scharr has been going on for months, and doesn't seem close to ending. As the Times reported, the dispute between Snyder and the minority partners began over the deferement of annual dividends to shareholders earlier this year and has spiraled into accusations of financial mismanagement.

It's unclear what will happen next, but when billionaires start to air dirty laundry, anything seems possible.  

The Washington Football Team is also under investigation by the NFL for significant workplace allegations of sexual harrassment and verbal abuse inside the organization.

While the actual football team is struggling on the field, things seem even more tumultuous for the Snyder off of them.