The three minority owners of the Washington Redskins are seeking to sell their shares in the team because they are “not happy being a partner” with owner Daniel Snyder, The Washington Post has reported, citing sources familiar with the deliberations.
Prominent businessmen Robert Rothman, Dwight Schar and Frederick W. Smith, who combined own about 40% of the team, have hired an investment banking firm to undergo a search for possible buyers, one of the sources told The Post.
Pro Football Talk first reported that Schar and Smith are trying to sell their stakes in the team.
The development comes as the team appears increasingly likely to change its name amid renewed pressure, given the national focus on human rights and social justice after the death of George Floyd in Minnesota.
Coach Ron Rivera told The Post on Saturday that he has been working with Snyder on a new team nickname in recent weeks. The team announced Friday that it will “undergo a thorough review” of the nickname.
One person who is familiar with the relationships between Snyder and the Redskins’ minority shareholders told ESPN’s John Keim that he felt this had to come as a big surprise to Snyder because he considered them all friends.