Washington's Snyder to buy out minority partners

Washington Football Team owner Dan Snyder has an agreement to buy out his limited shareholders, giving him full equity of the franchise, an NFL spokesman confirmed to Stephen Whyno of the Associated Press.

The NFL's finance committee has already signed off on a $450-million debt waiver Snyder requested to complete the deal. The league is expected to officially approve the transaction at the end of the month during the next scheduled owners meeting.

Fred Smith of FedEx, Robert Rothman of Black Diamond Capital, and Dwight Schar of NVR Inc. had been looking to sell their shares for several months. Combined, they own 40.5% of the franchise.

Last year, Snyder drew widespread criticism after the Washington Post published a report detailing the toxic workplace culture dozens of female and minority employees had allegedly experienced. For years, Snyder was maligned for his refusal to change the team's name, which many Indigenous groups considered racist.

Snyder has also often been panned for meddling in football operations. Under his ownership since 1999, the club has yet to advance beyond the divisional round of the playoffs.

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