Business

NFL, other owners not happy that WFT ownership dispute is in court


The Washington Post reports that the NFL and others of other teams “are not pleased” that Washington Football Team minority owners Fred Smith, Dwight Schar, and Robert Rothman have taken their dispute with majority owner Daniel Snyder to court.


Snyder doesn’t want to allow his three minority owners to sell roughly 40 percent of the team in bulk.


Thus, Snyder wants to exercise his right of first refusal as to the equity held by two of the three minority owners (Smith and Rothman) but not as to Schar.


As noted by the Post , however, minority shares often reflect a lower value since they come with no ability to manage the organization.


The window for accepting the $900 million offer allegedly closes on November 25, but the litigation is not expected to reach a decision by then.


Snyder’s reasons for picking and choosing which minority interests he’ll buy could be rooted in spite, or he may simply not want to own he full 100 percent of the team.






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