Dan Snyder is buying out the Washington Football Team’s minority owners and will become the sole owner of the club. An NFL spokesman on Wednesday confirmed 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 during a vote at the annual league meeting next week to make it official.
Multiple messages seeking comment that were left for the team and a public relations firm representing Snyder were not immediately returned.
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.