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Snyder to buy out other Washington owners, pending approval

Posted at 12:36 PM, Mar 24, 2021
and last updated 2021-03-24 12:36:33-04

WASHINGTON -- Dan Snyder is buying out the Washington Football Team's minority owners and will become the sole owner of the club.

An NFL spokesman confirms that Snyder's application for a debt waiver of $450 million was approved by the finance committee and that the deal is pending approval from team owners.

Three-quarters, or 24 of 32 teams, need to sign off to make it happen.

Fred Smith, Dwight Schar and Bob Rothman currently own 40.5% of Washington Football Inc. They have been mired in a court dispute with Snyder over their shares of the team.

This effectively settles that matter and puts Snyder completely in charge of the team.