Snyder, 55, has been the majority owner of the team since he purchased the franchise in 1999. He has no intention of selling, according to the report.
Tumultuous summer in D.C.
The franchise is in turmoil on and off the field. The team bowed to intense public and financial pressure this offseason to drop its long-held racial slur nickname that Snyder had previously vowed never to change.
The Washington Post reported last month an alleged longstanding culture of sexual harassment at team headquarters under Snyder’s watch, citing 15 female former employees.
Last week, Snyder sued an Indian media outlet for false claims linking him to sex trafficking and disgraced late financier and convicted sex offender Jeffrey Epstein.
Meanwhile the team continues to languish on the field. Washington has made the playoffs five times in the 21 seasons since Snyder purchased the franchise that won three Super Bowls prior to his stead. They’ve won two playoff games in the time span. They’ve not finished higher than third place in the NFC East in the previous four seasons.
Report: Snyder a drag on selling price
The minority owners include FedEx Corp. CEO Fred Smith, Black Diamond Capital chairman Robert Rothman and NVR Inc. board chairman Dwight Schar. Reports that they want to sell their stake broke in July, prior to the team’s name change.
FedEx, which also owns the naming rights to Washington’s stadium, called for Washington to make the name change in early July.
The minority owners collectively own 40 percent of the franchise and believe that Snyder selling his stake would increase the sales price, according to the Journal. Snyder’s refusal to consider selling has turned off potential buyers, according to the report.
The Journal reports that tensions between ownership parties existed prior to the turmoil this summer, but have been exacerbated in recent weeks.
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