Jump to content

Redskins Minority Owners Want Out


MKnight82

Recommended Posts

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 by MKnight82
Link to comment
Share on other sites

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.

  • Like 2
Link to comment
Share on other sites

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.  

Link to comment
Share on other sites

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. 

Link to comment
Share on other sites

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 ;)

Link to comment
Share on other sites

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!"

 

Link to comment
Share on other sites

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.

Link to comment
Share on other sites

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).  

  • Like 3
Link to comment
Share on other sites

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.

Link to comment
Share on other sites

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

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...