A spokesman has said that Washington Redskins owner Daniel Snyder is leaving the board of Six Flags, which he had headed for five years.

The Washington Post reported on Saturday that Snyder, who has been chairman of the board since winning a proxy fight, is leaving along with friend and Redskins partner Dwight C. Schar.

Snyder will lose the equity he has in Six Flags, which has struggled during the past several years as its stock has nose-dived.

The Post also said that when Six Flags filed for Chapter 11 bankruptcy protection in June, Snyder held 5 percent to 6 percent equity.

As part of its reorganization plan, nine people, including Mark Shapiro, the chief executive Snyder chose, became directors.

He would not seek reappointment, Snyder spokesman Karl Swanson said.

The Post further said that Six Flags couldn't pay interest on $2.4 billion in debt the previous Six Flags owners had left Snyder.

Snyder and Shapiro aimed to make Six Flags, which owns about 20 parks in North America, more family-friendly by adding rides and attractions.

It was also noted that Six Flags attracted 25 million visitors in 2008. (With Inputs from Agencies)