Washington Football Team ownership dispute escalates with allegations of financial malfeasance

Washington Football Team owner Daniel Snyder’s three partners discovered “serious corporate irregularities” in reviewing the team’s 2019 financial statements, including “long missing financials, breaches of the partnership agreement and other significant issues,” according to an affidavit filed late Monday in federal court in Maryland.

The allegations were made by Baltimore-based investment banker John A. Moag, who is handling the co-owners’ sale. Moag’s affidavit was in response to Snyder’s pursuit of information related to his $10 million defamation case against an India-based media company. Snyder has accused Moag of being part of a conspiracy to defame him via the media in an effort to force him to sell the team. A full sale of the team would increase the value of the co-owners’ shares, industry analysts say.