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-   -   Minority Owners of the Skins Want Out. (http://www.thewarpath.net/showthread.php?t=64636)

Giantone 07-05-2020 09:45 PM

Minority Owners of the Skins Want Out.
 
[url]https://www.yahoo.com/sports/washington-ownership-group-dan-snyder-sell-name-change-nfl-004122848.html[/url]


Report: Every member of the Washington ownership group not named Snyder wants out of the team

There are a total of three men in the Washington Redskins ownership group who aren’t in Dan Snyder’s immediate family. All three of them reportedly want out.

Washington minority owners Robert Rothman, Dwight Schar and Frederick W. Smith have hired an investment banking firm to conduct a search for potential buyers of their stake in the team, according to The Washington Post. The three businessmen reportedly hold 40 percent of the team.

Per the Post, the move is in large part due to the trio “not happy being a partner” with Snyder, who owns the majority of the team.

According to Forbes’ most recent team valuations, Washington ranks seventh in the NFL at a calculated $3.4 billion. That number has likely gone down in the wake of the coronavirus pandemic. The team also once ranked No. 1 in the Forbes valuations as recently as 2006, but has seen a noticeable fall from grace under Snyder.

Rothman is the chairman and CEO of private investment firm Black Diamond Capital, Schar is chairman of home-builder NVR Inc. and Smith is the president and CEO of FedEx. You might have heard how FedEx recently signaled it wants to see a name change for the team whose stadium naming rights it paid $205 million.

The only other minority owners of the team are Snyder’s mother, Arlette, and sister, Michele

The_Hangman_C_Hanburger 07-05-2020 10:10 PM

Re: Minority Owners of the Skins Want Out.
 
[quote]Report: Every member of the Washington ownership group not named Snyder wants out of the team

There are a total of three men in the Washington Redskins ownership group who aren’t in Dan Snyder’s immediate family. All three of them reportedly want out.

Washington minority owners Robert Rothman, Dwight Schar and Frederick W. Smith have hired an investment banking firm to conduct a search for potential buyers of their stake in the team, according to The Washington Post. The three businessmen reportedly hold 40 percent of the team.

Per the Post, the move is in large part due to the trio “not happy being a partner” with Snyder, who owns the majority of the team.

According to Forbes’ most recent team valuations, Washington ranks seventh in the NFL at a calculated $3.4 billion. That number has likely gone down in the wake of the coronavirus pandemic. The team also once ranked No. 1 in the Forbes valuations as recently as 2006, but has seen a noticeable fall from grace under Snyder.

Rothman is the chairman and CEO of private investment firm Black Diamond Capital, Schar is chairman of home-builder NVR Inc. and Smith is the president and CEO of FedEx. You might have heard how FedEx recently signaled it wants to see a name change for the team whose stadium naming rights it paid $205 million.

The only other minority owners of the team are Snyder’s mother, Arlette, and sister, Michele[/quote]

Good Riddance! Get the F out! Wonder if this is an opening for Joe Gibbs

skinsfaninok 07-05-2020 10:16 PM

Re: Minority Owners of the Skins Want Out.
 
Hopefully Dan sells the team too lol

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mooby 07-05-2020 10:19 PM

Re: Minority Owners of the Skins Want Out.
 
Interesting, curious as to why all 3 want out. It was all positive news this offseason up until Thursday, and all indications are that a name change is en route. Are we losing a ton of money? The timing is peculiar. Obv. Fred Smith is pro-name change, what about the other two?

SolidSnake84 07-05-2020 10:22 PM

Re: Minority Owners of the Skins Want Out.
 
[quote=The_Hangman_C_Hanburger;1253943]Good Riddance! Get the F out! Wonder if this is an opening for Joe Gibbs[/quote]

Seeing Joe Gibbs back with this team in any capacity, especially when they aren't going to be called the Redskins anymore, would be beyond strange.

I remember there being some talk last year during the whole Bruce Allen debacle that Snyder was considering a move to eliminate some of the minority owners that he was not happy with. The debate at the time was if Snyder had the money to buy them out. I guess we will see soon enough.

Just when it seems like they were trying to right a sinking ship by firing Bruce Allen in bringing in Ron Rivera, maybe they are re-arranging the deck chairs on the titanic.

I now have the smallest shred of hope that Dan is forced to sell. It would be a historic new start for this organization, a new owner as well as a new name, and eventually new location...

skinsfan69 07-06-2020 07:48 AM

Re: Minority Owners of the Skins Want Out.
 
Do we really care that the other owners want out? Means nothing. Dan isn't going anywhere.

JackLord 07-06-2020 08:29 AM

Re: Minority Owners of the Skins Want Out.
 
Obviously they are replaceable, but I am curious as to why and why now. It's almost as if they are leaving because the name will be changed.

KI Skins Fan 07-06-2020 08:48 AM

Re: Minority Owners of the Skins Want Out.
 
It would seem that NFL teams, and the Redskins in particular, are not good investments at this time. I wonder if Snyder ever provided his minority owners with the returns they were expecting when they invested in the team. Now the value of the team is declining.

This and all the personal embarrassment they must have suffered over the years as Snyder displayed his incompetence while perpetrating one cheap, mean-spirited, and even hostile act after another against his own fanbase (a.k.a. customers).

BaltimoreSkins 07-06-2020 08:50 AM

Re: Minority Owners of the Skins Want Out.
 
[quote=JackLord;1253957]Obviously they are replaceable, but I am curious as to why and why now. It's almost as if they are leaving because the name will be changed.[/quote]

The article talks about difficulty working with Dan, which is no surprise to us as fans after 20+ years of ownership. I think they see the name change as a perfect time to get out. This tells me that the name rebrand is going positively and they see an opportunity to a. get out of working with Dan and b. they can finally off load their shares knowing people would be willing to buy in now that the name won't be considered offensive. I imagine trying to convince a billionaire to buy into the Redskins knowing the backlash they would face is not an easy sell.

To me this is a negative spin article on what may be positive developments on the name change.

MTK 07-06-2020 08:58 AM

Re: Minority Owners of the Skins Want Out.
 
Why would Fred Smith have FedEx call for a name change only for him to sell because the team is changing the name? Makes no sense for him at least. They probably want out because Dan is a proven loser. Maybe it's time for Dan to self analyze and realize he's been the one constant here through all the losing.

skinsfan69 07-06-2020 08:59 AM

Re: Minority Owners of the Skins Want Out.
 
The team sold for 800 million in 1999. It is now worth 3 billion? They have to deal w/ Snyder and his inability to manage, which has run the fanbase into the ground. They have no say or power in decision making. They're probably disgusted and embarrassed by what has happened and want to cash out. Problem is who would want to buy into the Redskins right now? The article says they hired a firm to do a search? So I guess that means Snyder has no say in who they sell to. Also when can we just put to bed Joe Gibbs? I swear we need to make some new memories around here... badly.

jamf 07-06-2020 09:40 AM

Re: Minority Owners of the Skins Want Out.
 
Or they fear they DS will fuck up the name change and lose a significant chunk of the fan base.

Rebranding to a fan base that lives in the glory years because the team has been shit for 28 seasons is going to be difficult and I have no doubt DS will shit the bed on this one.

Hopefully Nike can take the lead and get us something that will appeal to a younger fan base.

Chico23231 07-06-2020 09:51 AM

Re: Minority Owners of the Skins Want Out.
 
[quote=jamf;1253970]Or they fear they DS will fuck up the name change and lose a significant chunk of the fan base.

Rebranding to a fan base that lives in the glory years because the team has been shit for 28 seasons is going to be difficult and I have no doubt DS will shit the bed on this one.

Hopefully Nike can take the lead and get us something that will appeal to a younger fan base.[/quote]

Maybe Nike’s experience can play a role from there hands on business with names such as the concentration camps or sweat shops. Literally using slave labor

irish 07-06-2020 10:51 AM

Re: Minority Owners of the Skins Want Out.
 
I don't know how the ownership split is structured and what the percentages are but is it possible that one person could buy out all the minority owners and become the majority owner?

Pervis_Griffith 07-06-2020 10:57 AM

Re: Minority Owners of the Skins Want Out.
 
Interesting.

Possibly seeing NFL revenues taking a serious hit this year ... and maybe cashing out on the high of a name change is too enticing to pass up.

They may have to ride out the revenue losses the NFL is sure to sustain in the short term, for a while. Which may be too long for them to want to ride out.

I don't see this impacting the Skins any though. As far as play on the field.


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