Dan Snyder - what lead him to finally sell
 

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!

Re: Dan Snyder - what lead him to finally sell
 

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.

Re: Dan Snyder - what lead him to finally sell
 

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

Re: Dan Snyder - what lead him to finally sell
 

[quote=SolidSnake84;1343176]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![/quote]

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).

Re: Dan Snyder - what lead him to finally sell
 

Who's Dan Snyder? Never heard of her.

Re: Dan Snyder - what lead him to finally sell
 

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

:argue:

Re: Dan Snyder - what lead him to finally sell
 

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.

Re: Dan Snyder - what lead him to finally sell
 

I agree that the financials made it inevitable, but I suspect as Nonniey put it, the other owners put the writing on the wall for him and said "sooner or later you're going to have to sell, sooner is better for everyone"; that forced the issue and quick change of stance.

Re: Dan Snyder - what lead him to finally sell
 

Good riddance to the Snyder family. Don't let the door hit you on the way out Danny!

Re: Dan Snyder - what lead him to finally sell
 

The great think about capitalism is that folks can NOT buy or support the companies/team/people and they will soon EITHER change the way they conduct business or Lose a lot of money .. The Washington fans quit supporting this Snyder owned team long ago and What blows my mind is that even with an eroded fan base this team even without a established indendity was sold for 6.5 Billion… the Big question is why is a team with a twenty year losing record .. scandal after scandal … the original NAME deemed Rascist thus two name changes and counting IF this team is worth 6.5 billion then what are the Cowboys , Patriots, Chiefs, Giants, Bears worth ???
I can’t believe first Snyder sold and the amount he got … The ONLY factor I can think is the location ( Washington DC) .. Nations Capital .. it certainly was NOT the product on the field and any legacy that once was …

Re: Dan Snyder - what lead him to finally sell
 

[quote=Schneed10;1343182]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.[/quote]

^ 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.

Re: Dan Snyder - what lead him to finally sell
 

also, the threat the other owners would force him out, could have meant the NFL buying the team for 4.8billion, and then reselling it at 6billion, which could have been a good incentive not to ---- around and find out.

Re: Dan Snyder - what lead him to finally sell
 

[quote=Schneed10;1343182]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.[/quote]



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

Re: Dan Snyder - what lead him to finally sell
 

[quote=rocnrik;1343185]The great think about capitalism is that folks can NOT buy or support the companies/team/people and they will soon EITHER change the way they conduct business or Lose a lot of money .. The Washington fans quit supporting this Snyder owned team long ago and What blows my mind is that even with an eroded fan base this team even without a established indendity was sold for 6.5 Billion… the Big question is why is a team with a twenty year losing record .. scandal after scandal … the original NAME deemed Rascist thus two name changes and counting IF this team is worth 6.5 billion then what are the Cowboys , Patriots, Chiefs, Giants, Bears worth ???
I can’t believe first Snyder sold and the amount he got … The ONLY factor I can think is the location ( Washington DC) .. Nations Capital .. it certainly was NOT the product on the field and any legacy that once was …[/quote]

The fan base is so passionate about football here, this is from the great redskins legacy created by Joe Gibbs during our glory days. Even when the nats, caps, or wiz do well…it is NOTHING to the buzz the football team creates even with a hint of success. Listen to the radio shows and football dominates. This is a sleeping giant, if the redskins could ever be as good as the chiefs,…it would absolutely transform the energy in our region…completely

Re: Dan Snyder - what lead him to finally sell
 

Schneed nailed it. It may be that the last hammer blow to that last coffin nail was Dan starting to investigate other owners and threatening to bring them down. They circled the wagons and made it clear that he was a dead man walking. 31 billionaires can unleash forces that would crush a man in ways we mortals couldn’t imagine.


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Re: Dan Snyder - what lead him to finally sell
 

[QUOTE=JPPT1974;1343184]Good riddance to the Snyder family. Don't let the door hit you on the way out Danny![/QUOTE]


Fuck that. Let the door hit him hard enough to break. Him.


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Re: Dan Snyder - what lead him to finally sell
 

[quote=AnonEmouse;1343183]I agree that the financials made it inevitable, but I suspect as Nonniey put it, the other owners put the writing on the wall for him and said "sooner or later you're going to have to sell, sooner is better for everyone"; that forced the issue and quick change of stance.[/quote]

Not just inevitable, immediate. What happens when you can’t make your car payment? It gets repo’d.

Who was the investment bank helping Snyder with this transaction? Bank of America, the very same bank he owed the $1.1B to.

Re: Dan Snyder - what lead him to finally sell
 

Seriously y’all just go read everything Don Van Natta has written about Snyder over at ESPN. Amazingly thorough and complete journalism. He connects every dot.

Re: Dan Snyder - what lead him to finally sell
 

I'm done spending any more time on Snyder. That bitch is gone. Don't give a fuck why, it's done. Go to England and never come back.

Re: Dan Snyder - what lead him to finally sell
 

[quote=sdskinsfan2001;1343201]I'm done spending any more time on Snyder. That bitch is gone. Don't give a fuck why, it's done. Go to England and never come back.[/quote]

This.. I'm just done w/ that guy. He is dead to the fanbase.

Re: Dan Snyder - what lead him to finally sell
 

Fuck Dan Snyder and the horse he rode in on

/thread

Re: Dan Snyder - what lead him to finally sell
 

Fuck Dan Snyder and the whores he rode on.

Re: Dan Snyder - what lead him to finally sell
 

[quote=Schneed10;1343182]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.[/quote] Forbes disagrees.


[url]https://www.si.com/nfl/commanders/news/washington-commanders-richest-franchises-sports-nfl-forbes-dan-snyder[/url]

Re: Dan Snyder - what lead him to finally sell
 

[quote=Fishingfool;1343382]Forbes disagrees.

[url]https://www.si.com/nfl/commanders/news/washington-commanders-richest-franchises-sports-nfl-forbes-dan-snyder[/url][/quote]

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

Re: Dan Snyder - what lead him to finally sell
 

[quote=Fishingfool;1343382]Forbes disagrees.


[url]https://www.si.com/nfl/commanders/news/washington-commanders-richest-franchises-sports-nfl-forbes-dan-snyder[/url][/quote]

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.

Re: Dan Snyder - what lead him to finally sell
 

[quote=Fishingfool;1343382]Forbes disagrees.


[url]https://www.si.com/nfl/commanders/news/washington-commanders-richest-franchises-sports-nfl-forbes-dan-snyder[/url][/quote]

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.

Re: Dan Snyder - what lead him to finally sell
 

[IMG]https://media.tenor.com/5PF8jrX1ph0AAAAd/all-due.gif[/IMG]

Re: Dan Snyder - what lead him to finally sell
 

And I'd add, the fact that Snyder couldn't make it work with the 13th most operating income of any sports franchise in the world is a testament to just how terrible an owner he was.

And SD, I wake up in the morning and I piss excellence. What do you say we get thrown out of an Applebees.

Re: Dan Snyder - what lead him to finally sell
 

[quote=Schneed10;1343182]but it was the inability to make enough money to make the payments on the $1.1B debt that forced him to sell.[/quote]


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.

Re: Dan Snyder - what lead him to finally sell
 

[quote=Fishingfool;1343382]Forbes disagrees.


[url]https://www.si.com/nfl/commanders/news/washington-commanders-richest-franchises-sports-nfl-forbes-dan-snyder[/url][/quote]


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.