Washington Redskins minority owners Smith, Schar & Rothman looking to sell their stakes

Robert Rothman, Dwight Schar and Frederick W. Smith are three Washington Redskins mirity owners reportedly looking to sell ir stakes in franchise. Redskins have recently come under a lot of pressure from political leers and investors to drop 'Redskins' from ir name, which has long been deemed racial towards Native Americans. So far, majority owner Daniel Snyder has rejected appeals to change  name of team. only or mirity owners in franchise are Daniel Snyder’s mor, Arlette, and sister, Michele.

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Washington Redskins mirity owners looking to sell ir stakes?

According to Washington Post, aforementioned trio - who own a combined 40 percent stake in Washington Redskins - has hired an investment firm in order to conduct a search for potential buyers for ir stake. report claims Robert Rothman, Dwight Schar and Frederick W. Smith are largely unhappy amid recent backlash and do t want to be associated with Snyder. Forbes estimated value of Redskins to be $3.4 billion in 2019. However, that number is likely to go down in 2020 in wake of COVID-19 pandemic. 

Robert Rothman is chairman and CEO of Black Diamond Capital, a private investment firm. Dwight Schar is  chairman of NVR Inc, a home construction company operating in East Coast of United States. Frederick W. Smith is CEO and founder of FedEx. shipping giants are also title sponsors of Redskins' stium. y purchased rights to name  stium in Prince George’s County, Maryland in 1999 for a reported $205 million. deal runs through 2025 season.

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Last week, FedEx was first of three major sponsors of Washington Redskins to urge franchise to change ir name. "We have communicated to team in Washington our request that y change team name,” a FedEx spokesperson said in a statement last Thursday. Since n, Nike took down all Redskins merchandise from its website. 

Amid growing pressure, Daniel Snyder anunced last Friday that Washington Redskins will undergo a review of team’s name. “This process allows team to take into account t only proud trition and history of franchise but also input from our alumni, organisation, sponsors, National Football League and local community is proud to represent on and off field," Snyder said in statement. Washington has carried nickname since 1933, one year after its inception as Braves. 

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(Im Credits: AP)