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Snyder Approaches BOA on Prospective ‘Team Sale’

The timelines for those other sales was based in part on the period it took for the bidders offers to be confirmed and financing in place.

Bezos and Jay-Z don’t need bank financing.

These guys are akin to the Dodgers ownership group.

They had the dollars in hand 😎
 
Rob Walton could be said to be in the same financial space as Bezos (Jay-Z is a bit player here) and the sale of the Broncos still took 6 months. In part because it apparently turned into a bit of a bidding war. The same could happen here.

While they are worth a lot, being worth a lot and having "dollars in hand" are two different things.

No one has $7B sitting around collecting dust so financial arrangements will still have to be worked out in some way, even if it is just the buyers figuring out where the money is coming from "in-house".
 
I don’t think this sale will take longer than the start of the league year. The new owner will be in place in the box for the 2023 season.

Whether Ron gets a lame duck year or not is a question. He may.

my only point in the other thread was I am not afraid to see him coach another year but AM concerned about the draft and free agency.

This group has decidedly mediocre results to show us and we are still going to have a top 10-15 pick IMO.
 
Wonder if this would have any affect on Jay-Z being involved?
 
I already did a timeline of the sale of the last 3 teams to change hands here.

With the talk of the sale now turning more seriously to when and what that means for the on-the-field pieces, I thought I'd go deeper.

I won't bore you with all the specifics but some things did jump out.

1. While 6 months or so has been the average of the last 3 sales, the sales before that range from quick to almost glacial in pace.
- Haslam appears to have come to an agreement with Lerner over the Browns in less than 2 months with no other parties involved - an insider deal with Haslam a minority owner in the Steelers at the time
- Weaver had been rumored to be trying to sell the Jags for years before the sudden and surprising announcement Shad Khan was buying the team in late Nov of 2011. Khan would be approved by the owners in less than 2 weeks.
- Kroenke and Ross took years to acquire their majority stakes in the Dolphins and Rams respectively, first starting as minority owners
- It is noteworthy that the last 3 sales have been more auction-like while prior to that, sales were fairly private matters, often going to someone already known to be interested in being a majority owner

2. I can't find a single example of the owner's voting on a sale other than in person at a regularly scheduled Owner's Meeting. If this holds for the Commanders we are looking at either the Special Meeting on Dec 13-14 this year or the League meeting on March 26-29 - assuming a purchase is agreed to by either of these dates.

3. There have been 11 clubs sold since Dan bought the Redskins from the Cooke estate in 1999. That is roughly 1 club every 25 months or so.

4. There are a number of other clubs expected to sell soon-ish. All of these would likely be cheaper than Washington.
- New Orleans Saints - owner Olivia Benson has said the club will be sold upon her death with the proceeds going to NOLA area charities
- Seattle Seahawks - owned by the Allen trust which is required to divest itself of the pro sports holding per the instructions in Paul Allen's will
- Chicago Bears - owner Virginia McCaskey is 99 years old and there are real questions about the desire of the family to keep the club after she passes
- San Diego Chargers - owner Dean Spanos is embroiled in a legal battle with his sister over the use of money in the family trust which might necessitate the sale of the team
 
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Only point I’ll continue to make is that this is a unique scenario - an owner being forced to sell by ownership with multiple pending investigations in progress.

Doesn’t absolutely mean we’ll see processes expedited, but I think all parties are incentivized to move with some agility - especially Dan Snyder. The quicker his name is no longer on the ledger, the less motivation there will be to bring a hammer of justice down on his head.
 
No disagreement, Boone.

I went through this exercise more just to see what was possible from a time perspective and to try to figure out if the league had a history of holding special meetings to expedite voting on the sale of a club.
 
4. There are a number of other clubs expected to sell soon-ish. All of these would likely be cheaper than Washington.
- New Orleans Saints - owner Olivia Benson has said the club will be sold upon her death with the proceeds going to NOLA area charities
- Seattle Seahawks - owned by the Balmer trust which is required to divest itself the pro sports holding per the instructions in Steve Balmer's will
- Chicago Bears - owner Virginia McCaskey is 99 years old and there are real questions about the desire of the family to keep the club after she passes
- San Diego Chargers - owner Dean Spanos is embroiled in a legal battle with his sister of use of money in the family trust which might necessitate the sale of the team

Why do you include Seattle in that list? Isn't Balmer something like his mid-60s?
 
Sorry...wrong Microsoft billionaire - Paul Allen owned the Seahawks and his will requires that the trust sell it.
 
No disagreement, Boone.

I went through this exercise more just to see what was possible from a time perspective and to try to figure out if the league had a history of holding special meetings to expedite voting on the sale of a club.

It’s good stuff Bob! I wish I could remember where I saw someone post that the league could or might call an emergency owners meeting to approve a sale… would they? No idea. But I do think there may be a lot greater sense of urgency to get this done than we realize. I could be wrong and it’ll happen over the next 6 months in a routine manner. I just have a sense the league wants him out asap and Snyder is selling to try and stave off potential personal implications…
 
Sorry...wrong Microsoft billionaire - Paul Allen owned the Seahawks and his will requires that the trust sell it.
Oh yeah..duh..I should have picked up on the fact it would be Allen too. I guess in my head I knew Balmer owned a sports franchise, but wasn't thinking it was the Clippers. :)
 
It’s good stuff Bob! I wish I could remember where I saw someone post that the league could or might call an emergency owners meeting to approve a sale… would they? No idea. But I do think there may be a lot greater sense of urgency to get this done than we realize. I could be wrong and it’ll happen over the next 6 months in a routine manner. I just have a sense the league wants him out asap and Snyder is selling to try and stave off potential personal implications…
That is one thing I did discover - Roger Goodell can call a special owner's meeting to approve the sale of a club. There was a lot of speculation that he might do it for Haslam when the Browns sold due to the sale being announced 10 weeks before the next scheduled owner's meeting. It didn't happen, however, that time might have been needed for Haslam to divest himself of the stake he had in the Steelers - I couldn't find any specifics.

So yeah, lot's of possibilities.
 
One thing is for sure, I bet this keeps people around the board more during the off season. :)
 
What effect will Snyder’s distain for the Washington Post have on a potentially highest bid from Bezos etal?

No matter the timing, I am certain that a sale won’t be consummated nearly as fast as a vast majority of fans would like.
 
The NFL wants Snyder out. Those other sales were just that - business transactions that were considered by the league in due course vis a vis precedent.

I think to get Snyder out the NFL may very well take advantage of any expediency once a potential sale has been negotiated to get Washington on the docket to get this done.

This franchise in terms of stain and reputation is down there right now with where the Clippers were in 2014.

Quite simply Sterling was an embarrassment to the NBA. Snyder likewise has presided over a laughingstock team and the thousands of empty seats shown on TV each week and especially during nationally televised games is a nut-cruncher for a top 5-8 market.
 
While I agree with all of that, there is still a certain amount of work that has to take place that cannot be expedited. This is going to be a $6B plus transaction and no one makes those without due diligence.

A company I worked for years ago was purchased by another company for roughly $1 Billion. Over two months of work went into that transaction BEFORE it was announced and it took 8 weeks to complete after the announcement.

My company was shopping for a buyer, just like Snyder, and that process went on for some time. There was more than one interested party, presumably just like this situation.

Will the NFL look to expedite things? Sure. On their end, I have no doubt they will do what they can to grease the wheels.

The only way I see us knowing who the next owner will be before New Year's, and maybe before the Super Bowl, is if someone is seriously motivated to put this bed, calls Snyder, and asks for the number that will get a deal done right now.
 
If she doubly likes football then he likes football. Trust me. 😉
 

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