Commanders owner Daniel Snyder infuriated NFL owners and restarted conversations about potentially voting him out, according to reports from the Washington Post on Monday. Twenty four hours later, Snyder continues to look even worse after he allegedly was charging the franchise $10 million a year to use his own private jets as well as an additional $4.5 million to put the team's logo on his personal plane, according to ESPN.
In documents acquired by ESPN, Snyder called the $4.5 million charge "an advertising fee" despite the team's then-minority owners claiming Snyder's personal jet "provides little or no advertising value." The charges of $10 million annually and the one-time $4.5 million fee are also an issue because the minority owners who were in possession of 40% of the team did not consent to the spending.
Minority team owners Dwight Schar, Frederick W. Smith, and Robert Rothman, said Snyder was using the franchise as his "personal piggy bank," according to an arbitration petition filed with the league per ESPN. The alleged lack of ethics regarding the team plane spending, however, is just the tip of the iceberg regarding Snyder's unapproved financial decisions since some details of an FBI and IRS investigation into the team are centered around even bigger alleged financial misconduct, according to ESPN.
Snyder allegedly took on a $55 million loan through the Commanders without informing the minority owners and receiving their approval, which is critical because it came 16 months before buying out the individuals who held a combined 40% share of the team. This loan has reportedly been a key area of focus for federal prosecutors who are investigating financial misconduct.
