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A multi-million loan taken without approval nor knowledge of former Washington Commanders minority owners is now finding itself at the center of federal prosecutors in Virginia who are in the middle of an investigation of Dan Snyder and the team's actions related to the organization's finances.
Via Don Van Natta Jr. of ESPN:
“The secret $55 million loan has become a primary focus of federal prosecutors in Virginia who are investigating allegations of financial misconduct by Snyder and the Washington Commanders, multiple sources with firsthand knowledge of the inquiry told ESPN.”
The prosecutors are moving closer to the truth with subpoenas already being issued to gather more information.
“A federal grand jury has issued subpoenas for a cache of documents related to the team's finances, including the loan. Prosecutors acquired the partners' NFL arbitration petition and other supporting materials, including emails and letters between team executives and bank lawyers, documents show. “
The said arbitration has also revealed that the aforementioned group of minority owners had requested for the NFL to look into the loan, but did not seemingly prompt the league into digging in deeper.
This is another bad look not only to Snyder but to the Commanders organization, whose fans just want to see him sell the franchise. Until then, it seems that the long-suffering Washington fateful will have to keep on waiting for better news from a franchise that has not given its fans a lot to cheer for — on and off the field — during the reign of Snyder team owner.
