Update, 11:45 p.m.: Read Paul Farhi’s report on Daniel Snyder dropping the lawsuit.

Original post: The Washington Redskins announced Saturday evening that owner Daniel M. Snyder has dropped his lawsuit against the Washington City Paper.

Snyder in April filed a lawsuit against the City Paper and reporter Dave McKenna on the grounds that an article that ran in November 2010 defamed the owner's character.

Snyder said that he did so upon the urging of senior vice president Tony Wyllie. This week Snyder in an interview with the New York Times Magazine said that he actually never read the article.

The team released the following statement:

“The lawsuit was pursued as a means to correct the public record following several critical factual misstatements in the Washington City Paper article,” Wyllie said. “In the course of the defendants’ recently filed pleadings and statements in this matter, the Washington City Paper and its writer have admitted that certain assertions contained in the article that are the subject of the lawsuit were, in fact, unintended by the defendants to be read literally as true. Therefore, we see nothing further to be gained at this time through continuing the lawsuit. We prefer to focus on the coming football season and the business at hand. We remain committed to assisting with responsible reportage of the Team and the many people involved in our organization, including Dan Snyder, and the principle that the truth and the facts matter in responsible journalism has been vindicated.”

The Redskins sent out the release at 8:20 p.m. Saturday, roughly 20 hours before the team kicks off the 2011 season at home against the New York Giants.