WFT MINORITY OWNERS REVOLT AGAINST DAN SNYDER HITS FEDERAL COURT!

Says the New York Times:

FedEx joined with other sponsors in calling on Snyder to change the team’s name, going further to threaten to end its $8 million per year sponsorship of FedEx Field, Washington’s stadium.

Snyder had previously dug in his heels, telling reporters in 2013: “We’ll never change the name. It’s that simple. NEVER — you can use caps.”

He had maintained that stance even in the face of pushback from activists, politicians and some fans, but finally relented in mid-July.

Behind the scenes of what seemed to be a shift caused by societal change, Snyder had been at war with Frederick W. Smith, the FedEx chairman.

Smith, Dwight Schar, a real estate developer, and Robert Rothman, an asset manager, collectively own 40 percent of the franchise and have been members of Snyder’s inner circle since they bought into the team in 2003. But they have been looking to divest for many months.

Snyder took umbrage and several months ago removed them from the board. Aggrieved, the three men asked the N.F.L. to resolve the matter, and other issues. The commissioner’s office appointed an arbitrator in late June, according to two people familiar with the matter who were not authorized to speak publicly. The N.F.L. declined to comment.

Selling small stakes in N.F.L. teams is hard because prospective buyers have to spend millions of dollars but often do not receive voting rights. The economic slowdown in the spring whittled the field of potential big spenders, but a sale of the entire franchise, rather than a piecemeal sell-off, would net a higher fee for all involved.

In legal filings in the past month, Snyder has claimed there is an effort to discredit him, presumably to increase the pressure on him to sell. Snyder has no intention of doing so, according to two people who speak with him regularly but spoke on condition of anonymity.

Schar and Rothman did not respond to requests for comment. Through a spokesman, Smith declined to comment for this article.

Snyder has not denied the main elements of an article The Washington Post published last month that detailed claims from 15 women that they were sexually harassed while employed by the team. Snyder hired the law firm Wilkinson Walsh to review the claims, which included numerous accusations of misconduct and abusive behavior by several team executives and football personnel over more than a dozen years.

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