Dan Snyder has been facing a lot of flak since the last few months. There has been a lot of pressure on him to sell the Washington Commanders but somehow, he has been able to hold onto his position.
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Reports emerged that Snyder apparently was deciding to go to any lengths to secure his position as the Commanders owner and then the whole controversy slowly started getting pushed under the rug. However, more allegations have now emerged against Snyder and it appears that the end of Dan’s association with the NFL might not be that far away.
Dan Snyder took out a $55 million loan without informing other Commanders owners
Recently, NFL Insider Jon Ourand Tweeted the list of allegations that have been made against Snyder and even if a few of them eventually turn out to be true, Snyder would find himself in a lot of trouble.
“Allegations against Dan Snyder: Financial misconduct. Bank fraud. Misuse of team funds. Abuse of corporate bylaws. Self-dealing. Disregard of contractual and fiduciary duties. Sexual misconduct,” Ourand recently claimed. As it turns out, around 16 months earlier, Snyder reportedly took out a $55 million loan on the team’s behalf without informing the other minority owners of the franchise.
This sounds illegal and it sure is. Commenting on the same, in the recent episode of the Pat McAfee Show, Pat claimed, “it seems it is going to get ugly. He(Snyder) took a $55 million loan which wasn’t approved by the minority owners of the Commanders, obviously funds were then moved around, we all know about the ticketing scandal. I think for the NFL, the quicker Dan Snyder is out of the league, the better for everybody.”
Pat went on to add that unless all hell breaks loose, Dan is going to hold on to the Commanders out of spite because this is just how he operates. “What a total sh*t-show in Washington now,” McAfee added. The former punter also highlighted that other team owners might be hesitating from voting Dan out thinking that they themselves might get voted out someday based on an allegation.
Did NFL help Dan Snyder in illegally securing a $55 million loan?
As reported by ESPN, NFL commissioner Roger Goodell’s role in helping Dan secure the loan is also under scrutiny. In fact, the report also states that the league tried sweeping the matter under the rug with all their might but failed to do so.
“Three billionaires, not a few whistleblowers, alleged to the NFL arbitrator that their partner had possibly committed bank fraud,” ESPN reported citing a source. “This is jail time type of fraud. The NFL owes them as much of a fair shake as it owes Snyder. And the league had no interest in finding out what happened. They buried it and didn’t investigate it and covered it up,” the source further informed.
It will be interesting to see what happens next in the case.
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