Snyder does own the rights to an Arena League team...and the name Washington Warriors. From a 2002 article on cnnsi.com,
he was supposed to bring a team into play last year...
however, he has yet to find a facility to accomodiate him. there are too many conflicts at the MCI Center (between the Wizards, Hoyas, and Capitals [if they come back] already playing there on weekends) for them to play there. the cap centre was torn down...and the college arenas look down upon alcohol sales at their arenas, plus have to contend with men's and women's college basketball among other sports on weekends. he'd have to cough up money for an arena, and that's just not cost efficient for a team that may or may not thrive in the area. it's done extremely well in mid-market areas, as well as the major markets it's in now.
i am told that it's 100x better live than on TV...it's interesting for its different aspects. there are a few rules i dont agree with (there should be no out of bounds, unless you are tossed into the stands...tackle or TD should end a play), but overall it's decent. and the prices are supposed to be family friendly...