RICHMOND, Va. (WRIC) — Three minority owners of the Washington Football Team have had their efforts to sell their 40 percent stake in the NFL franchise blocked by majority owner Daniel Snyder, according to reports.
Fred Smith, Dwight Schar and Robert Rothman have agreed on a deal with California private equity firm co- founders Behdad Eghbali and José Feliciano and Feliciano’s wife, D.C. native and singer Kwanza Jones.
But, according to reports, Snyder is trying to exercise his rights to buy back part of the stake, around 25 percent.
Smith, Schar and Rothman have now taken the matter to court to force the deal to go through, but a decision has not been made yet.
The New York Times and Washington Post first reported the story.