Daniel Snyder Gains Approval To Buyout Washington Football Team

The Washington Football Team is consolidating its ownership under a single party.

Daniel Snyder and his family have bought out the minority owners of the team to take sole control. The sale went for $875 million and accounted for 40.5 % of shares in the team. This 40.5% of the team was previously owned by three minority investors, Fred Smith, Dwight Schar and Robert Rothman, who all became part owners of the team in 2003. The other 59.5% had been split among members of the Snyder family, 40.45 % belonging to Daniel Snyder, 6.5% to his mother Arlette and 12.55% to his sister Michele. Snyder first bought the team in 1999, and had been in a public dispute with his fellow minority owners for a better part of a year, with each side filing in court. The buyout will act as the resolution to this conflict.

Snyder is known as one of the main proponents of Washington’s previous team name. Snyder is a lifelong fan of the team, and in an interview in 2013 he stated, “We’ll never change the name. It’s that simple. NEVER — you can use caps.” However, after some of their biggest sponsors began to back out on the team in the summer of 2020, Snyder was forced to begin a rebranding process, starting with a change from the previous name to the Washington Football Team. This will remain the team name in the 2021-2022 season, as a new team name will not be enacted until 2022.

The Football Team are the defending NFC East champions, winning the weakest division in football with a 7-9 record before losing at home in the Wild Card round. They will now move forward under the complete command of the Snyder family.