NFL owners on Wednesday approved a $450 million debt waiver for Washington Football Team owner Daniel Snyder to allow him to buy out the team’s minority owners, NFL Network’s Judy Battista reported.
The move will give Snyder total control of the franchise he purchased in 1999 and should end a lengthy, bitter court dispute and end any speculation that he could sell the team.
An NFL spokesman last week confirmed to The Associated Press that Snyder’s application for a debt waiver was approved by the league’s finance committee pending final approval from team owners at the Annual League Meeting. Three-quarters, or 24 of 32 teams, needed to sign off to make it official.
Fred Smith, Dwight Schar and Bob Rothman currently own 40.5% of Washington Football Inc. They sued Snyder in federal court in Maryland in November, seeking an injunction to allow them to sell their shares of the team.
Battista also reported Wednesday that the league’s review into allegations of sexual harassment and inappropriate workplace behavior within the Washington organization remains ongoing.
The Associated Press contributed to this report.
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