Washington Football’s minority owners have moved to the next step in selling their shares. According to ESPN’s Adam Schefter, the minority owners led by FedEx CEO Fred Smith have hired an investment bank to vet buyers for a potential sell.
Smith along with Robert Rothman and Dwight Schar have hired Moag & Company, a Baltimore-based investment firm, to help with selling their 40% of ownership into the Washington Football Team, formerly known as the Redskins.
This adds to the chaotic week for Washington and could potentially add to the stained public perception of majority owner Dan Snyder. Earlier this week the team fired two people in the front office. Larry Michael, the “Voice of the Washington Redskins” retired after 16 years with the team.
The team also announced plans to retire the Redskins name and logo amid immense pressure from sponsors to change the team’s name. One of those sponsors is Smith’s FedEx, who formally asked Snyder to change the name before threatening to remove signage from the team’s home stadium, FedEx Field.
The team is facing a bombshell story by the Washington Post set to expose troubling details of the team’s past culture. Washington Football has hired high-powered DC attorney Beth Wilkinson in response to the rumored story.
Each tidbit of news hints back to the bombshell story expected to drop on Friday.
Earlier this month, the Washington Post reported the three minority owners were ānot happy being a partnerā with Snyder.
