at Things are not going well for the Washington Commanders and owner Dan Snyder. The Commanders took a big hit to their reputation after media reports revealed a toxic workplace culture that Snyder fostered under his leadership.
There were also allegations of financial misconduct regarding ticket sales. Snyder was put under a lot of pressure and decided in Nov 2022 to put the Commanders up for sale.
Federal Investigation Into Secret Loan
Now a federal investigation has been launched into Washington Commanders and Dan Snyder over more financial impropriety. Snyder is alleged to have taken out a secret $55 million loan on behalf of the Commanders but did not inform his minority stake partners who owned 40 percent of the team at the time.
When the NFL was informed of Snyder’s secret loan during arbitration, NFL Commissioner Roger Goodell was able to sort things out and a deal was reached for Snyder to buy out his partners for $875 million.
However, a Federal Investigation has now been launched with a special focus on this $55 million secret loan as it violated Washington’s shareholder laws. If Snyder is found guilty, he could end up facing jail time.
