MKnight82 Posted July 6, 2020 Share Posted July 6, 2020 (edited) https://www.washingtonpost.com/sports/2020/07/05/redskins-minority-owners-look-sell-stakes-team-amid-ongoing-turmoil/?utm_campaign=wp_redskins&utm_medium=social&utm_source=twitter The three minority owners of the Washington Redskins are attempting to sell their stakes in the NFL franchise, according to multiple people familiar with the deliberations. According to one of those people, the owners — Robert Rothman, Dwight Schar and Frederick W. Smith — hired an investment banking firm to conduct the search for potential buyers, in large part because they are “not happy being a partner” of majority owner Daniel Snyder. According to the article these three guys own 40% of the team. Edited July 6, 2020 by MKnight82 Quote Link to comment Share on other sites More sharing options...
PARROTHEAD Posted July 6, 2020 Share Posted July 6, 2020 "Dan wont let me play with them in his name change club. (Pouts) Hes a meanie, Im selling." 2 Quote Link to comment Share on other sites More sharing options...
turtle28 Posted July 6, 2020 Share Posted July 6, 2020 Not a good look for Snyder. Quote Link to comment Share on other sites More sharing options...
MikeT14 Posted July 6, 2020 Share Posted July 6, 2020 Seems like this isn’t recent that they’ve tried to get out Quote Link to comment Share on other sites More sharing options...
Jeezy Fanatic Posted July 6, 2020 Share Posted July 6, 2020 Had a couple jokes I’ll pass on, you’re welcome @Thaiphoon Dan Snyder’s been a jerk for ages, but the team made money so I’m sure these guys put up with it. Suddenly you gotta believe the team isn’t making nearly as much money. What we’re doing is working 1 Quote Link to comment Share on other sites More sharing options...
PARROTHEAD Posted July 6, 2020 Share Posted July 6, 2020 2 hours ago, turtle28 said: Not a good look for Snyder. Looks good to me. One guy is the CEO of FedEx. He sat there for years being part owner. Then all of a sudden this whining fad happens and hes, "FedEx will quit sponsorship if the name doesnt change." Yet he must have been perfectly fine with it when buying the stake in the first place without he or FedEx saying anything for years about it. Screw that guy. Glad hes going. 2 Quote Link to comment Share on other sites More sharing options...
offbyone Posted July 6, 2020 Share Posted July 6, 2020 1 hour ago, PARROTHEAD said: Looks good to me. One guy is the CEO of FedEx. He sat there for years being part owner. Then all of a sudden this whining fad happens and hes, "FedEx will quit sponsorship if the name doesnt change." Yet he must have been perfectly fine with it when buying the stake in the first place without he or FedEx saying anything for years about it. Screw that guy. Glad hes going. I tend to agree. I say get lost to these guys trying to jump ship. Snyder is really getting assaulted from all sides. Quote Link to comment Share on other sites More sharing options...
MikeT14 Posted July 6, 2020 Share Posted July 6, 2020 8 hours ago, PARROTHEAD said: Looks good to me. One guy is the CEO of FedEx. He sat there for years being part owner. Then all of a sudden this whining fad happens and hes, "FedEx will quit sponsorship if the name doesnt change." Yet he must have been perfectly fine with it when buying the stake in the first place without he or FedEx saying anything for years about it. Screw that guy. Glad hes going. It's neither whining nor a fad. Also, it sounds like they've been trying to get out for awhile behind the scenes, but have finally taken it public. Quote Link to comment Share on other sites More sharing options...
TKellion Posted July 6, 2020 Share Posted July 6, 2020 In this world of political correctness this was inevitable.I am 49 years a fan of this team.I will continue because what is a name.This is my team for better or worse.Kinda like Griffins. What about Red Griffins? 1 Quote Link to comment Share on other sites More sharing options...
MikeT14 Posted July 6, 2020 Share Posted July 6, 2020 15 minutes ago, TKellion said: In this world of political correctness this was inevitable.I am 49 years a fan of this team.I will continue because what is a name.This is my team for better or worse.Kinda like Griffins. What about Red Griffins? Gryffindors. Keep with the DC Wizard theme Quote Link to comment Share on other sites More sharing options...
PARROTHEAD Posted July 6, 2020 Share Posted July 6, 2020 1 hour ago, MikeT14 said: It's neither whining nor a fad. Also, it sounds like they've been trying to get out for awhile behind the scenes, but have finally taken it public. Why did he buy a stake in the team in the first place if hes so offended? Why did he have FedEx buy into stadium sponsorship if offended? Then sit for years with no voicing out on the matter? Like when I was in college. The quad area where hippy kids with their causes try recruiting and raising money. Then one approached trying to get me into some Mississippi River clean up thing. I laughed a no. Till a pack of hotties walked up, "Aww, were having no luck." So Im, "Im kidding, this why I came here." to their "Yaay!" Quote Link to comment Share on other sites More sharing options...
MikeT14 Posted July 6, 2020 Share Posted July 6, 2020 3 minutes ago, PARROTHEAD said: Why did he buy a stake in the team in the first place if hes so offended? Why did he have FedEx buy into stadium sponsorship if offended? Then sit for years with no voicing out on the matter? He bought it, what, 17 years ago? Times and people change. I certainly have. I am not the same person I was at 16, that's for sure. I won't be the same when I am 50. Quote Link to comment Share on other sites More sharing options...
MKnight82 Posted July 6, 2020 Author Share Posted July 6, 2020 If you guys think these minority owners want out because they are upset about the name, I think you are wrong. This is about money, and the Redskins have some serious lingering problems that could effect the value of the franchise. #1 - The team can't get a new stadium approved. This is far and away the most valuable thing they could add to the franchise. The current stadium sucks and putting more money into it would be a waste. #2 - COVID 19 has put this upcoming season in jeopardy, which could impact TV money, which is the biggest cash flow the team has. The team could also face future lawsuits from employees who get COVID while working. #3 - The team has a dwindling fanbase due to being poorly run for so long. This is hurting ticket sales as well as merchandise sales. All of these things drastically impact the value of the franchise, and they are all on a downward trend (#2 is up in the air but is definitely a big risk). 3 Quote Link to comment Share on other sites More sharing options...
Thaiphoon Posted July 6, 2020 Share Posted July 6, 2020 21 minutes ago, MKnight82 said: If you guys think these minority owners want out because they are upset about the name, I think you are wrong. This is about money, and the Redskins have some serious lingering problems that could effect the value of the franchise. #1 - The team can't get a new stadium approved. This is far and away the most valuable thing they could add to the franchise. The current stadium sucks and putting more money into it would be a waste. #2 - COVID 19 has put this upcoming season in jeopardy, which could impact TV money, which is the biggest cash flow the team has. The team could also face future lawsuits from employees who get COVID while working. #3 - The team has a dwindling fanbase due to being poorly run for so long. This is hurting ticket sales as well as merchandise sales. All of these things drastically impact the value of the franchise, and they are all on a downward trend (#2 is up in the air but is definitely a big risk). Amen. These guys bought in 2003. That was before they had 2+ decades of Snyder's mismanagement. And back when the place was packed. Right now, they can get about $340-$350M for each 10% they own of the team. I'd cash out too if I were them. Quote Link to comment Share on other sites More sharing options...
TheGame316 Posted July 6, 2020 Share Posted July 6, 2020 36 minutes ago, MKnight82 said: If you guys think these minority owners want out because they are upset about the name, I think you are wrong. This is about money, and the Redskins have some serious lingering problems that could effect the value of the franchise. #1 - The team can't get a new stadium approved. This is far and away the most valuable thing they could add to the franchise. The current stadium sucks and putting more money into it would be a waste. #2 - COVID 19 has put this upcoming season in jeopardy, which could impact TV money, which is the biggest cash flow the team has. The team could also face future lawsuits from employees who get COVID while working. #3 - The team has a dwindling fanbase due to being poorly run for so long. This is hurting ticket sales as well as merchandise sales. All of these things drastically impact the value of the franchise, and they are all on a downward trend (#2 is up in the air but is definitely a big risk). People always think the NFL will always make "More Money" Get woke, go broke is a thing. The NFL will not gain any new fans with their new stances. If you weren't a fan of football (the game) before, what has changed to make you a fan now? You can appreciate their new social stances, but will that make you buy a new Packers jacket? Will it make you tune in on Sunday to watch the Lions and the Bengals? Will it make you spend $500 to watch a game in the freezing rain in New York while eating a $20 hot dog? But they will lose fans. Some people, purely out of spite will refuse to watch, participate and spend money. This suggests a downturn in popularity in the short term and thus value As a minority investor, who used sports team ownership as an investment vehicle, there is probably not a better time to get out than right now Quote Link to comment Share on other sites More sharing options...
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