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turtle28

Hypothetical: What if Joe Gibbs sold his racing team & he and Dale Junior bought the team?

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Posted (edited)

Hypothetical: What if Joe Gibbs sold his racing team & he and Dale Junior bought the team?
 

So, someone jokingly on twitter said, “waiting for Joe Gibbs & Dale Earnhardt, Jr. to buy the team.” 
 

So, I thought I’d open up a thread on it. It would be cool if they bought Dan Snyder’s share of the team, maybe Matthew McConahay buys a portion to. 
 

That would be awesome! 

Edited by turtle28

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Even if they sold Joe Gibbs racing, they would have to amass a lot more capital to buy out Snyder.  It would have to be something where Joe Gibbs comes in as the CEO of the time as a minority owner while someone else fronts the cash, similar to how the sale of the Miami Marlins happened to the group put together by Derek Jeter.  

Gibbs already had 28 years in coaching when he retired the first time, so he has 32 years total.  He's 79 years old.  Joe Bugel just passed away at 80.  I can't see Gibbs taking on that kind of load as a CEO or fronting the group. 

Could he come in as a minority owner?  Absolutely.  But even then, given his age, it's not going to be for that much ownership.  Given his history with the franchise, he's essentially valued as a minority owner anyway because of his sweat-equity, so there really isn't a need for this.  

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25 minutes ago, naptownskinsfan said:

Even if they sold Joe Gibbs racing, they would have to amass a lot more capital to buy out Snyder.  It would have to be something where Joe Gibbs comes in as the CEO of the time as a minority owner while someone else fronts the cash, similar to how the sale of the Miami Marlins happened to the group put together by Derek Jeter.  

Gibbs already had 28 years in coaching when he retired the first time, so he has 32 years total.  He's 79 years old.  Joe Bugel just passed away at 80.  I can't see Gibbs taking on that kind of load as a CEO or fronting the group. 

Could he come in as a minority owner?  Absolutely.  But even then, given his age, it's not going to be for that much ownership.  Given his history with the franchise, he's essentially valued as a minority owner anyway because of his sweat-equity, so there really isn't a need for this.  

Good point

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9 hours ago, naptownskinsfan said:

Even if they sold Joe Gibbs racing, they would have to amass a lot more capital to buy out Snyder.  It would have to be something where Joe Gibbs comes in as the CEO of the time as a minority owner while someone else fronts the cash, similar to how the sale of the Miami Marlins happened to the group put together by Derek Jeter.  

Was thinking the same thing. As rich as those two are, I don't think they come close. They need a couple Fred Smith's, etc. to help make that a reality.

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Posted (edited)
6 hours ago, MikeT14 said:

Was thinking the same thing. As rich as those two are, I don't think they come close. They need a couple Fred Smith's, etc. to help make that a reality.

Well, they would join with the current group like Fed Ex, Black Diamond Capital, NVR Homes and buy Dan’s 60%. Hey, here's a thought, maybe John Kent Cook joins with them and McConaghy to also be in on that 60% and those 4 are our majority owners! That would be cool! Haha 😂 

Edited by turtle28

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9 hours ago, turtle28 said:

Well, they would join with the current group like Fed Ex, Black Diamond Capital, NVR Homes and buy Dan’s 60%. Hey, here's a thought, maybe John Kent Cook joins with them and McConaghy to also be in on that 60% and those 4 are our majority owners! That would be cool! Haha 😂 

I know it’s hypothetical, but John Cooke sold the team once for I believe 800 million. Why buy back in for the same -ish price for a percentage of the team? 
 

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9 minutes ago, bigdog44 said:

I know it’s hypothetical, but John Cooke sold the team once for I believe 800 million. Why buy back in for the same -ish price for a percentage of the team? 
 

He doesn't have that money.  The team was left to the Jack Kent Cooke Foundation and John only received 10% after expenses.  John was leading a team of investors to try and buy the team however.  

Here is a great excerpt from the archives of the Post

Quote

Snyder, who made his $500 million fortune in marketing and advertising, said he will strongly consider selling naming rights to the stadium. He said he will not change the name of the team, which is offensive to Native Americans and other people. He also pledged his ownership would provide "a new energy" at Redskin Park and in the stadium.

With his wife, Tanya, standing in back of the interview room, Snyder thanked her, the NFL owners, Redskins employees and fans, and the Cooke family.

"It's because of their [Cooke] stewardship that the Redskins have become such a storied franchise," he said. "We really appreciate everything they've done and we hope to continue with that.

Finance committee chairman Robert Kraft, owner of the New England Patriots, described Snyder as "passionate about the game. You don't have to worry that the new steward of the franchise has anything on his mind but winning. A unanimous vote doesn't happen very often in this league. I have a bias for owners who are passionate and will put winning on the field above everything else."

https://www.washingtonpost.com/wp-srv/sports/redskins/daily/may99/26/skinsbid26.htm#:~:text=ATLANTA%2C May 25湧ational,for a U.S. sports franchise.

 

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Posted (edited)
1 hour ago, bigdog44 said:

I know it’s hypothetical, but John Cooke sold the team once for I believe 800 million. Why buy back in for the same -ish price for a percentage of the team? 
 

John didn’t sell the team. HIS father - Jack Kent Cooke - passed away and didn’t keep the team in the family, instead the family had to buy the team and the Redskins Foundation was involved bc Jack Kent Cooke or his wife did that before he died instead of leaving the team to his kids. Dan Snyder outbid John Cooke’s group in 1999 and the franchised was ruined. John has made a lot of money off of wine the last 20 years maybe he can buy back in by joining with this group, Joe GIbbs & Dale Earnhardt, Jr.

Edited by turtle28

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