Dan Snyder’s acrimonious battle with his minority partners could finally be coming to an end.
The Washington owner agreed to buy out the team’s minority shareholders, purchasing the 40% stake from Fred Smith, Robert Rothman, and Dwight Schar — a deal that will ultimately give the embattled billionaire more control over the franchise, according to multiple reports.
The buyout must ultimately be approved by the rest of the league’s owners before becoming official. That is expected to be a formality as the league’s owners are set to meet its annual spring meeting next week, where the sale will likely be finalized.
The New York Times reported that Snyder will purchase the shares for $875 million.
The price tag would be less than the $900 million that the three partners previously arranged with an outside investing firm before Snyder blocked the sale, a move that set up a messy — and public — legal battle.
As part of the agreement, Snyder reportedly requested — and received — a $450 million debt waiver from the league to help fund the purchase. Snyder also agreed to not pursue any legal action against his partners as part of the deal.
The settlement comes as the league is investigating Washington over accusations of sexual harassment and workplace misconduct. The league has yet to receive the findings of the investigation from investigator Beth Wilkinson.