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$55 million credit loan at center of Washington federal probe


naptownskinsfan

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Short story: Snyder’s former partners were not aware that Snyder took out a $55 million loan against the team.  Loans like that require the other owners’ knowledge, as well as approval of a board meeting.  Additionally, Goodell’s signature appears on the document, indicating that there was belief on the NFL’s side that Snyder satisfied what he was supposed to do.  

Reading more of the article, Snyder is running the team with a salary north of $10 million, and using the team as a personal piggy bank and now it is cash-poor.  Revenues have also dropped $81 million from 2009 to 2020.  

https://www.espn.com/nfl/story/_/id/35726691/former-partners-say-dan-snyder-used-team-fund-lifestyle-took-improper-loan-their-approval

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I can’t wait for the NFL to sweep this under the rug because otherwise Snyder will burn it all down. They’re just hoping Jeff B and that new Amazon monopoly that’s a clear conflict of interest and antitrust violation goes through on the purchase. 

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14 minutes ago, MWil23 said:

I can’t wait for the NFL to sweep this under the rug because otherwise Snyder will burn it all down. They’re just hoping Jeff B and that new Amazon monopoly that’s a clear conflict of interest and antitrust violation goes through on the purchase. 

Didn't you hear Bezo's money isn't welcome in the Snyder house. 

https://www.google.com/amp/s/www.yahoo.com/amphtml/entertainment/jeff-bezos-reportedly-barred-buying-171613603.html

Imagine being such a small man that you turn down maximum return on investment because they told the truth about your corruption. 

I hope they force him out and he gets pennies on the dollar for his arrogance. 

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