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Redskins' minority owners looking to sell stakes in team

Redskins owner Dan Snyder meets with Maryland lawmakers to discuss allowing sports betting at a new stadium
Posted at 9:45 AM, Jul 06, 2020
and last updated 2020-07-06 09:45:14-04

LOUDOUN COUNTY, Va. - The Washington Redskins' three minority owners are looking to sell their stakes in the team.

As reported by The Washington Post, minority owners Robert Rothman, Dwight Schar and Frederick W. Smith hired an investment banking firm to conduct the search for potential buyers. A source told The Post that the three are “not happy being a partner” of majority owner Dan Snyder.

The news comes just days after the team announced they are conducting a "thorough review" of the team's nickname.

Minority owner Smith is CEO of FedEx, which signed a $205 million deal in 1999 for the naming rights to the home of the Redskins, FedEx Field.

FedEx was the first major corporation to encourage the team to change its name. Shortly after, Nike, PepsiCo and Bank of America echoed FedEx's request.