Dan Snyder - what lead him to finally sell

[SolidSnake84]

Hey Folks,

I apologize if it is too soon to post this topic, or if this is unpopular and MTK wants to remove / move the thread, but can we take a deep dive into what seemed to suddenly change from November 2022 to making the decision to fully sell to the Josh Harris group?

Dan Snyder throughout all of his failures and scandals always (seemingly) remained steadfast that he would never consider selling the team.

In fact, in the statement he gave in November 2022, he stated flatly that he was "never" selling the team.

So what was it that finally drove the nail in the coffin for him? He had survived fines, punishments, and scandal after scandal. He was able to get the league to bury the Beth Wilkinson investigation, and making sure the details never would see the light of day.

Could it be that he was realizing his future was going to be marred with never ending court battles? Did he know that he had to sell when he knew that the Mary Jo White investigation, once concluded, would state to the NFL that the recommendation would be for Dan to be forced to sell? Or was it knowing / seeing Tanya Snyder blasted with "Sell the team" chants?

I just wondered what it may have been that finally put Dan over the edge and made him make the decision that we all have wanted for the past 20 years or so!

[mooby]

I'm gonna take a wild guess here and say it was money.

The offering price was 6 billion, which is 5.2 billion more than what he paid. He was losing sponsors, I'm guessing internal revenue from merch sales was way down (very small factor bc he gets way more revenue from the NFL tv arrangement/s), nobody wanted to work with him on a stadium deal, oh yeah and he had like 6? playoff seasons in 24 years. He also had Congress breathing down his back about the scandals.

So it was probably a bunch of different factors, but in the end I'd say the whole "6 billion dollars to fuck off forever" was the biggest.

[skinsfan69]

I don't want to talk about Snyder anymore. Way too many positive vibes going on right now.

[nonniey]

Originally Posted by SolidSnake84

Hey Folks,

I apologize if it is too soon to post this topic, or if this is unpopular and MTK wants to remove / move the thread, but can we take a deep dive into what seemed to suddenly change from November 2022 to making the decision to fully sell to the Josh Harris group?

Dan Snyder throughout all of his failures and scandals always (seemingly) remained steadfast that he would never consider selling the team.

In fact, in the statement he gave in November 2022, he stated flatly that he was "never" selling the team.

So what was it that finally drove the nail in the coffin for him? He had survived fines, punishments, and scandal after scandal. He was able to get the league to bury the Beth Wilkinson investigation, and making sure the details never would see the light of day.

Could it be that he was realizing his future was going to be marred with never ending court battles? Did he know that he had to sell when he knew that the Mary Jo White investigation, once concluded, would state to the NFL that the recommendation would be for Dan to be forced to sell? Or was it knowing / seeing Tanya Snyder blasted with "Sell the team" chants?

I just wondered what it may have been that finally put Dan over the edge and made him make the decision that we all have wanted for the past 20 years or so!

I think he was told that he was going to be forced out sometime around the time Irsay raised that issue. (Irsay was probably the stalking horse for the rest of the owners).

[sdskinsfan2001]

Who's Dan Snyder? Never heard of her.

[davy]

Pure guess but it wouldn't surprise me if Tanya played a big part in making up his mind for him.

[Schneed10]

SS this is well documented by news outlets everywhere. Corporate sponsors became disgusted with his behavior and realized doing business with him was bad for them, his revenue declined. As attendance declined as a result of consistent mediocrity thanks in part to his meddling in personnel decisions, revenue declined further. As revenue declined he struggled to meet financial commitments. He excluded Fred Smith and Dwight Schar, his minority partners, from having a say by refusing to hold board meetings. They eventually decided he was so toxic to their revenue stream that it was in their interests to sell their stake. When they did, Snyder got a waiver from the NFL, allowing him to take out more debt on the Commanders than any NFL team ever had, so he could buy them out. At that point he was $1.1B in debt, with declining attendance, declining sponsorship revenue. Other owners hated him and he was being investigated by Mary Jo White, but it was the inability to make enough money to make the payments on the $1.1B debt that forced him to sell.

Let this be an example of how capitalism can deliver a business owner the comeuppance he sometimes deserves. The corporate sponsorships and every fan who decided it wasn’t worth it to buy tickets and go to games had a hand in ushering Snyder out.

[Dlyne8r]

Originally Posted by Schneed10

SS this is well documented by news outlets everywhere. Corporate sponsors became disgusted with his behavior and realized doing business with him was bad for them, his revenue declined. As attendance declined as a result of consistent mediocrity thanks in part to his meddling in personnel decisions, revenue declined further. As revenue declined he struggled to meet financial commitments. He excluded Fred Smith and Dwight Schar, his minority partners, from having a say by refusing to hold board meetings. They eventually decided he was so toxic to their revenue stream that it was in their interests to sell their stake. When they did, Snyder got a waiver from the NFL, allowing him to take out more debt on the Commanders than any NFL team ever had, so he could buy them out. At that point he was $1.1B in debt, with declining attendance, declining sponsorship revenue. Other owners hated him and he was being investigated by Mary Jo White, but it was the inability to make enough money to make the payments on the $1.1B debt that forced him to sell.

Let this be an example of how capitalism can deliver a business owner the comeuppance he sometimes deserves. The corporate sponsorships and every fan who decided it wasn’t worth it to buy tickets and go to games had a hand in ushering Snyder out.

^ There you go. Every reason he left wrapped up nicely in one post. Thread can be closed now lol. Snyder’s farewell statement boasting of how diverse the org is now etc was so annoying. Dude is delusional.

[Giantone]

Originally Posted by Schneed10

SS this is well documented by news outlets everywhere. Corporate sponsors became disgusted with his behavior and realized doing business with him was bad for them, his revenue declined. As attendance declined as a result of consistent mediocrity thanks in part to his meddling in personnel decisions, revenue declined further. As revenue declined he struggled to meet financial commitments. He excluded Fred Smith and Dwight Schar, his minority partners, from having a say by refusing to hold board meetings. They eventually decided he was so toxic to their revenue stream that it was in their interests to sell their stake. When they did, Snyder got a waiver from the NFL, allowing him to take out more debt on the Commanders than any NFL team ever had, so he could buy them out. At that point he was $1.1B in debt, with declining attendance, declining sponsorship revenue. Other owners hated him and he was being investigated by Mary Jo White, but it was the inability to make enough money to make the payments on the $1.1B debt that forced him to sell.

Let this be an example of how capitalism can deliver a business owner the comeuppance he sometimes deserves. The corporate sponsorships and every fan who decided it wasn’t worth it to buy tickets and go to games had a hand in ushering Snyder out.

This.............

[Fishingfool]

Originally Posted by Schneed10

SS this is well documented by news outlets everywhere. Corporate sponsors became disgusted with his behavior and realized doing business with him was bad for them, his revenue declined. As attendance declined as a result of consistent mediocrity thanks in part to his meddling in personnel decisions, revenue declined further. As revenue declined he struggled to meet financial commitments. He excluded Fred Smith and Dwight Schar, his minority partners, from having a say by refusing to hold board meetings. They eventually decided he was so toxic to their revenue stream that it was in their interests to sell their stake. When they did, Snyder got a waiver from the NFL, allowing him to take out more debt on the Commanders than any NFL team ever had, so he could buy them out. At that point he was $1.1B in debt, with declining attendance, declining sponsorship revenue. Other owners hated him and he was being investigated by Mary Jo White, but it was the inability to make enough money to make the payments on the $1.1B debt that forced him to sell.

Let this be an example of how capitalism can deliver a business owner the comeuppance he sometimes deserves. The corporate sponsorships and every fan who decided it wasn’t worth it to buy tickets and go to games had a hand in ushering Snyder out.

Forbes disagrees.


https://www.si.com/nfl/commanders/ne...bes-dan-snyder

[sdskinsfan2001]

Originally Posted by Fishingfool

Forbes disagrees.

https://www.si.com/nfl/commanders/ne...bes-dan-snyder

Damn, Emmanuel Forbes is evaluating profit and loss statements after practice? Mad respect.

[AnonEmouse]

Originally Posted by Fishingfool

Forbes disagrees.


https://www.si.com/nfl/commanders/ne...bes-dan-snyder

On the one hand, 13th in the world is 'good' (value, not performance). On the other its all but a quarter of what the Cowboys brought in in the same period. DS wanted to be Jerruh, but only ever became a lesser version.

[Schneed10]

Originally Posted by Fishingfool

Forbes disagrees.


https://www.si.com/nfl/commanders/ne...bes-dan-snyder

Without thumping my chest, you're talking to a CFO of a very large urban academic hospital, I'm used to evaluating financials.

The operating income referenced by Forbes here is the three year operating income from 2019 through 2021.

Fred Smith and Dwight Schar sold their stakes in 2021. In March of 2022, Anheuser Busch declined to renew their sponsorship with the team. Medliminal severed its sponsorship arrangement in February of 2022.

Meanwhile here is the Commanders home game attendance, trended by year:

2012 RG3: 637K
2017: 601K
2019: 523K
2021: 422K
2022: 523K (NINE home games)

So the decline in sponsorships and attendance isn't fully reflected in the time period chosen by Forbes.

Further, Operating Income does not include cash payments for the repayment of debt principal. So if I make $290M in operating income in three years, that's great, but if I have to repay $350M in principal payments to the bank during those same three years, I'm ($60M) poorer after those three years than I was at the beginning of them.

He owes more to the bank than $290M could cover, and it was only getting worse.

[NC_Skins]

Originally Posted by Fishingfool

Forbes disagrees.


https://www.si.com/nfl/commanders/ne...bes-dan-snyder

Don't believe this Forbes shit. They once said Trump was worth 4 billion and he's not. Most of this shit is just PR.

[NC_Skins]

Originally Posted by Schneed10

but it was the inability to make enough money to make the payments on the $1.1B debt that forced him to sell.

I on the other hand think it was his cooking the books on the shared revenue that really did him in with the owners. I think that was the one unforgivable thing Dan could have done, and he did it. He was stealing from other NFL owners and they sure as shit were going to vote his ass out.

Those owners didn't give two fucks what Dan did outside of that. He could have been caught beating his wife while wearing black face paint screaming the N word and they wouldn't have done shit other than fine him. Sexual harassment? No biggie. They were well on their way of covering that whole scandal up. Soon as they caught him stealing from other owners.....holy hell that was the line in the sand.