NFL ‘does NOT have enough votes to force scandalized Dan Snyder to sell the Commanders’

The NFL does not have the votes to force scandalized Washington Commanders owner Dan Snyder to sell his club, according to a New York Post report.

Following recent league meetings in Palm Beach, Florida, a source close to a team owner said the league was below the 75 percent threshold that would have forced a sale, the Post reports.

Ahead of the league’s annual meeting in Arizona on March 26, the owners of the other 31 NFL teams are looking to end years of club-related controversies, the Post reports. Earlier in October, Indianapolis Colts owner Jim Irsay said he had “merited removing” Snyder. Such a move would be unprecedented in the NFL and would require the votes of 24 of the other 31 owners.

“This is the boys’ club of boys’ clubs,” another source close to an NFL owner told the Post. They want a higher bar, so there’s no precedent for them. [to be forced to sell their own teams].’

The 58-year-old billionaire has faced calls from fans to sell the struggling team for years, but pressure has mounted since 2020 amid allegations of sexual harassment, financial improprieties and obstruction against the team and Snyder himself. While the Commanders fired many of the people accused of sexual harassment and paid a $10 million fine to the NFL, Snyder defiantly denied the allegations against him in the face of various investigations, including a congressional investigation.

Snyder enlisted Bank of America to explore a possible sale of the team last year, but it remains unclear whether he intends to close a deal, and if so, whether he is willing to sell the entire club or a minority stake.

Interested parties are believed to include Houston Rockets owner Tilman Fertitta, Philadelphia 76ers owner Josh Harris, and Amazon founder Jeff Bezos, who has signed a confidentiality agreement, indicating that he will be allowed submit an offer, according to the Post. Bezos, who also owns the Washington Post, was rumored to sit out the bidding process due to Snyder’s discontent with the newspaper’s reporting on the billionaire’s various scandals.

Snyder is reportedly seeking $6 billion for the club. The Post previously reported that Fertitta made the highest offer at $5.5 billion, which would be a new record after the Denver Broncos were sold for an all-time high of $4.65 billion in August to Walmart heir Rob Walton.

An NFL spokesman did not immediately respond to DailyMail.com’s request for comment on Saturday.

Some owners are holding out hope that Bezos could be listed among the bidders, according to a recent report by The Associated Press.

However, others remain skeptical, given Snyder’s reported desire to be indemnified for any potential legal issues that may arise in the future.

Snyder wants a contract from the NFL or the potential buyer of the Commanders to compensate him, according to the Washington Post.

Snyder’s future as an NFL owner has grown murkier amid mounting scandals.

Following The Washington Post’s recent report that Snyder is seeking compensation if he sold the team, ESPN reported Tuesday that FBI and IRS agents are investigating claims that Snyder obtained a $55 million loan without the knowledge of his parents. So minority partners.

After years of disputes, Snyder bought out minority owners Dwight Schar, a home construction executive, Black Diamond Capital CEO Bob Rothman, and FedEx founder Fred Smith, in the spring of 2021. The trio had previously filed a court order in the hope that they would be allowed to sell. his 40.5 percent stake in the team, which Snyder ultimately bought after the NFL approved a debt limit waiver, allowing him to obtain a $450 million loan from Bank of America.

A federal grand jury recently issued subpoenas related to the team’s finances, according to ESPN.

The former minority partners had reportedly demanded an NFL investigation into the alleged $55 million loan during a confidential arbitration hearing, but at least one source with knowledge of the proceedings told ESPN that Schar, Smith and Rothman they believed league commissioner Roger Goodell and general counsel Jeffrey Pash sided with Snyder.

If Snyder obtained the $55 million loan without informing his now former minority partners, he would have violated the team’s shareholder agreement, according to documents obtained by the AP.

Bank of America officials repeatedly requested proof that the board had approved the loan, only to close the deal without receiving any such confirmation. Documents obtained by the AP show a lawyer for the team acknowledging in a letter that board approval was never granted.

A Bank of America spokesman declined to comment to DailyMail.com.

Less than a week after Schar, Rothman and Smith pressured NFL referees to investigate the loan, the NFL moved to end the arbitration proceeding, the documents show.

Frustrated, Schar, Rothman and Smith hesitantly agreed to allow Goodell to mediate the dispute, according to ESPN.

The NFL did not conduct any investigation into the loan, and Snyder has never been penalized for the claims of financial misconduct.

In a statement, McCarthy said: “The parties had a number of disputes, which were certified to the Commissioner for arbitration as required by league rules. The Commissioner appointed a highly respected attorney as arbitrator and neither party objected. to that appointment.’

“After several months, the parties were asked if they would be interested in participating in a confidential mediation with the commissioner, which they agreed to,” McCarthy continued.

“The mediation lasted two days and the parties subsequently reached an agreement whereby the three limited partners sold all of their interests in the team to Mr. Snyder at an agreed price and other terms. All were represented by highly sophisticated legal and financial advisers. The agreement included full releases of all claims that were or could have been brought by either party in the arbitration proceeding.’

The commanders’ attorney, John Brownlee, did not respond to questions from ESPN about the alleged $55 million loan, but said the team is cooperating with the Justice Department’s request for financial records.

The DOJ’s Eastern District of Virginia made that request last year after a House Oversight Committee investigation uncovered claims that the Commanders engaged in deceptive business practices for more than a decade. The team is accused of improperly withholding ticket revenue from visiting teams and refundable deposits from fans.

Former vice president of sales and customer service Jason Friedman testified during a Committee hearing that the Commanders had had two sets of financial books: one delivered to the NFL with unreported ticket revenue and another that was more accurate.

“The team has been fully cooperating with the Eastern District of Virginia since receiving a records request last year,” Brownlee said in a statement to ESPN. ‘Requested records only relate to customer security deposits and ticket sales and team revenue. The team will continue to cooperate with this investigation.

A spokesman for the Eastern District of Virginia declined to comment on the ESPN reports.