The embattled Washington Commanders owner is back in the news, and none of it is good.
and other alleged financial improprieties involving Snyder. Here are the key takeaways:
The problem? The three minority owners didn’t know about the loan. Nor had they approved it—even though, as then-members of the team’s board of directors, their knowledge and approval was legally required for Snyder to borrow the money.When the trio found out about the loan, they reportedly—and understandably!—were pretty upset, and their dispute with Snyder ultimately ended up in an arbitration overseen by the NFL. .
Used team funds to help pay for his two “personal yachts, multiple residences, the services of more than 60 members of his personal staff, multiple vehicles in the U.S. and Europe and countless meals, wine/beverages [and] entertainment.”
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