Do you think Dan Snyder is broke?

[Burgold]

Throughout the offseason, Washington has promised to be aggressive and while they were aggressive going after the QB almost every other act was to wait and see what others teams were doing and MAYBE offering to match. As for pursuing free agents to fill holes, the team has been remarkably patient. Now, while Wentz did eat up a ton of cap we know better than most how cash cures cap so the question becomes... Does Snyder have the cash to cure the cap? We know a bunch of his businesses: Six Flags, Johnny Rockets, etc. have done really poorly. We also know that Snyder is a billionaire on paper. He also just took out a huge loan (with the league's help) to buy out his minority owners. 

 

So, what do you think... Is Snyder broke?

[formerly4skins]

I'd love to believe Dan is cash poor and miserable for it...but, dude just bought a $48 million house like 3 months ago:

 

https://alexandrialivingmagazine.com/home-and-garden/washington-commanders-owner-dan-snyder-buys-60-million-alexa/

 

I'm sure he's doing just fine. 

[MartinC]

8 minutes ago, formerly4skins said:

I'd love to believe Dan is cash poor and miserable for it...but, dude just bought a $48 million house like 3 months ago:

 

https://alexandrialivingmagazine.com/home-and-garden/washington-commanders-owner-dan-snyder-buys-60-million-alexa/

 

I'm sure he's doing just fine. 

 

Did he buy it cash? Or did he mortgage it against other assets, like for example his NFL franchise? 

 

I have no idea what Snyders liquidity or cash flow looks like, but I wouldn't take him closing an a (ridiculously) expensive house as evidence that he has cash on hand to pay out big bonus's.

[BatteredFanSyndrome]

38 minutes ago, formerly4skins said:

I'd love to believe Dan is cash poor and miserable for it...but, dude just bought a $48 million house like 3 months ago:

 

https://alexandrialivingmagazine.com/home-and-garden/washington-commanders-owner-dan-snyder-buys-60-million-alexa/

 

I'm sure he's doing just fine. 

I spend a lot of my working days digging through rich people's finances and can confidently say that purchasing a $48MM home is not a key indicator that someone is doing well, particularly from a cash perspective.  Rich people in general make all their moves at the banks risk vs. their own whenever possible.

[Sacks 'n' Stuff]

I didn’t see an option for “I don’t know but I still hate him either way.”

[Burgold]

6 minutes ago, Sacks 'n' Stuff said:

I didn’t see an option for “I don’t know but I still hate him either way.”

Who wants an option that would get all the votes. That's no fun!

[Koolblue13]

I just bought smokes with change. He looks rich as **** to me? Is he broke in billionaire fashion? The hell if I know what that means.

[goskins10]

 

Anything but the last option is wrong. He is cheap as **** but is not broke. Any idea that he is broke is pure fantasy/conspiracy. As recently s 2020, his net worth was pegged at $2.4B making him the 804th richest POS in the world. That is net worth, so he can be as liquid as he wants. But he is a cheap ass ****. I think many confuse the two. 

[Conn]

1 hour ago, BatteredFanSyndrome said:

I spend a lot of my working days digging through rich people's finances and can confidently say that purchasing a $48MM home is not a key indicator that someone is doing well, particularly from a cash perspective.  Rich people in general make all their moves at the banks risk vs. their own whenever possible.

Right. Monstrously wealthy people don’t sell assets for cash to buy something. They leverage those assets and spend the bank’s money. 

[CobraCommander]

29 minutes ago, goskins10 said:

 

Anything but the last option is wrong. He is cheap as **** but is not broke. Any idea that he is broke is pure fantasy/conspiracy. As recently s 2020, his net worth was pegged at $2.4B making him the 804th richest POS in the world. That is net worth, so he can be as liquid as he wants. But he is a cheap ass ****. I think many confuse the two. 

Yeah but I think the vast amount of his liquid aSsets lies in the team itself. It’s not like he can sell of a bunch of side businesses to get cash fast. He has failed at most every other project. If he needed a lot of money fast he’d have to sell the team. Dumb ass mansions and yachts aren’t going to cut it. 

[Conn]

30 minutes ago, goskins10 said:

 

Anything but the last option is wrong. He is cheap as **** but is not broke. Any idea that he is broke is pure fantasy/conspiracy. As recently s 2020, his net worth was pegged at $2.4B making him the 804th richest POS in the world. That is net worth, so he can be as liquid as he wants. But he is a cheap ass ****. I think many confuse the two. 

I’m not any more knowledgeable about Snyder’s situation than anyone else here—but after all his business failures I would bet that the vast majority of his “worth” is tied up in the team. He can be asset rich and cash poor, which would mean he borrows against his assets for liquid spending money. That’s extremely common for wealthy people whose net worth is tied up in stocks, real estate, hell even crypto. The 1% doesn’t ever really sell an asset for cash to live, unless it’s to buy another asset. They let their wealth in assets multiply while borrowing against them. It wouldn’t be surprising to find out that Dan is over-leveraged nowadays after buying out his minority owners with the NFL’s help. Still functionally rich beyond imagination and able to maintain whatever lifestyle he wishes, but with less ability to just whip out enormous lump sum signing bonuses on a whim. 

[CobraCommander]

1 minute ago, Conn said:

I’m not any more knowledgeable about Snyder’s situation than anyone else here—but after all his business failures I would bet that the vast majority of his “worth” is tied up in the team. He can be asset rich and cash poor, which would mean he borrows against his assets for liquid spending money. That’s extremely common for wealthy people whose net worth is tied up in stocks, real estate, hell even crypto. The 1% doesn’t ever really sell an asset for cash to live, unless it’s to buy another asset. They let their wealth in assets multiply while borrowing against them. It wouldn’t be surprising to find out that Dan is over-leveraged nowadays after buying out his minority owners with the NFL’s help. Still functionally rich beyond imagination and able to maintain whatever lifestyle he wishes, but with less ability to just whip out enormous lump sum signing bonuses on a whim. 

Yup. Unlike Jerry Jones who can sign fat checks day of with no worries and zero taxes owed by the players.

Edited May 16, 2022 by CobraCommander

[goskins10]

19 minutes ago, Conn said:

I’m not any more knowledgeable about Snyder’s situation than anyone else here—but after all his business failures I would bet that the vast majority of his “worth” is tied up in the team. He can be asset rich and cash poor, which would mean he borrows against his assets for liquid spending money. That’s extremely common for wealthy people whose net worth is tied up in stocks, real estate, hell even crypto. The 1% doesn’t ever really sell an asset for cash to live, unless it’s to buy another asset. They let their wealth in assets multiply while borrowing against them. It wouldn’t be surprising to find out that Dan is over-leveraged nowadays after buying out his minority owners with the NFL’s help. Still functionally rich beyond imagination and able to maintain whatever lifestyle he wishes, but with less ability to just whip out enormous lump sum signing bonuses on a whim. 

 

 

Net worth is net worth. If he were over leveraged his net worth would be lower or none existent. And if it's tied up in the team then why would he had NOT have access to funds needed to run said team? I know people have been spreading this little conspiracy thing nd it's fun but just has nothing to support it. Again a huge difference between being cheap, of which he is, and even cash poor which he is not. 

 

Not trying to be an ass here but this line of thought makes no sense. It's just not how money works. I get the guy is a low life POS who should be squashed like a bug. But unfortunately he is a rich as ****. 

[Burgold]

Except Dan Snyder pre-Bruce Allen was not known for being cheap. In fact, he was well known for overspending and throwing his money around at anything that moves. 

[Conn]

13 minutes ago, goskins10 said:

 

 

Net worth is net worth. If he were over leveraged his net worth would be lower or none existent. And if it's tied up in the team then why would he had NOT have access to funds needed to run said team? I know people have been spreading this little conspiracy thing nd it's fun but just has nothing to support it. Again a huge difference between being cheap, of which he is, and even cash poor which he is not. 

 

Not trying to be an ass here but this line of thought makes no sense. It's just not how money works. I get the guy is a low life POS who should be squashed like a bug. But unfortunately he is a rich as ****. 

Sorry but none of what you’re saying is really how it works. I already explained pretty thoroughly how somebody can be extremely wealthy and own something like an NFL team and have cash flow issues. So have others. It’s not hypothetical as a concept—only whether it applies to Dan Snyder is up for debate. Your condescending “that’s just not how money works” is…ironic. First of all, the idea that you can look up someone’s “net worth” on the internet is not even something that is correct, publicly. It’s as close as people on the outside can get but it really means nothing because this stuff isn’t remotely transparent. And it doesn’t have to equate at all to liquid cash funds. 
 

Again, nobody knows at all what’s up with Snyder although some think the wind is blowing a certain way, from the outside. But that includes you. You also do not know. So your protests, which contain almost no details other than an insistence that you’re right, are a little empty and self-righteous. None of us know what’s what in Snyder’s specific case, but you go too far to make your point to suggest that what we’re talking about isn’t a thing that exists. It absolutely is. 

[goskins10]

12 minutes ago, Conn said:

Sorry but none of what you’re saying is really how it works. I already explained pretty thoroughly how somebody can be extremely wealthy and own something like an NFL team and have cash flow issues. So have others. It’s not hypothetical as a concept—only whether it applies to Dan Snyder is up for debate. Your condescending “that’s just not how money works” is…ironic. First of all, the idea that you can look up someone’s “net worth” on the internet is not even something that is correct, publicly. It’s as close as people on the outside can get but it really means nothing because this stuff isn’t remotely transparent. And it doesn’t have to equate at all to liquid cash funds. 
 

Again, nobody knows at all what’s up with Snyder although some think the wind is blowing a certain way, from the outside. But that includes you. You also do not know. So your protests, which contain almost no details other than an insistence that you’re right, are a little empty and self-righteous. None of us know what’s what in Snyder’s specific case, but you go too far to make your point to suggest that what we’re talking about isn’t a thing that exists. It absolutely is. 

 

 

Sorry you took my response personally. It wasn't meant to be. So we will just have to agree to disagree. I will bow out of this conversation moving forward. I want the guy gone broke or not. So moving on. 

[CommanderInTheRye]

Snyder's worldly assets may be stratospheric but his soul declared bankruptcy  years ago.

 

 

 

 

Edited May 16, 2022 by CommanderInTheRye

[kingdaddy]

I don't think money is an issue for Dan, I think the real issue is how you justify giving a WR 20 mil per in a salary cap structure when you have other guys to sign too. Other teams are balking at this premise too. But in reality I have no idea of Dan's financial state. 

[CobraCommander]

34 minutes ago, kingdaddy said:

I don't think money is an issue for Dan, I think the real issue is how you justify giving a WR 20 mil per in a salary cap structure when you have other guys to sign too. Other teams are balking at this premise too. But in reality I have no idea of Dan's financial state. 

You can justify it because the salary cap is gonna go up and guys like Terry don’t grow on trees. We gotta stop letting home grown talent walk. 

[bird_1972]

4 hours ago, BatteredFanSyndrome said:

I spend a lot of my working days digging through rich people's finances and can confidently say that purchasing a $48MM home is not a key indicator that someone is doing well, particularly from a cash perspective.  Rich people in general make all their moves at the banks risk vs. their own whenever possible.

 

I'm guessing in this case the "bank" is the "NFL" given how levered he is and that they were the originators of that "risk-free" loan he got as a reward for being a totally horrible human being.

[Smooters]

His soul is broke.

[bird_1972]

2 hours ago, Burgold said:

Except Dan Snyder pre-Bruce Allen was not known for being cheap. In fact, he was well known for overspending and throwing his money around at anything that moves. 

 

Easier to do when your other outside business had yet to be run into the ground (Six Flags, Johnny Rockets) and you had minority owners to help offload the sting of large cash outlays. 

 

Now he's on an island and all cash comes from him.

1 minute ago, Smooters said:

His soul is broke.

 

Truth

[The Rook]

Morally, the mf is penniless.

 

 

 

 

 

The Rook

[Voice_of_Reason]

I posed this in another thread: does anybody know how the relationship between the LLC which is the Commanders franchise and the personal wealth of Snyder interact?  
 

I think the answer is no.

 

But it’s important to know/understand they are 2 different legal entities, and the assets (including cash) can’t just flow between them. 
 

It wouldn’t surprise me to learn the Commanders franchise is earning less revenue, so it has less cash to spend.

 

However, Dan himself might have plenty of cash. 
 

But DAN can’t play players.  The franchise has to.

 

Lets say Dan has $100M cash sitting in a bank account. He can’t just write Terry a personal check.

 

Somehow the money has to get to the team. 
 

Typically cash INTO an org is done in exchange for equity. But Dan already owns all the equity.

 

Normally in these situations the franchise makes money and the owner gets a dividend to pay themselves.  Going the other way is unusual.

 

And when it comes to buying the remaining 40% of the team, THAT money WOULD come from Dan and NOT the team. 
 

It’s complicated.  It’s also completely unknown. 
 

My best guess is the team isn’t clearing the type of cash it would like to, but the shared revenue is enough to basically do whatever they want to.  

 

And Dan has plenty of cash for his own purposes. He takes some type of dividend payment at the end of the fiscal year.  And uses that to pay for his personal debt, which includes the new loan to buy out his minority owners.

 

Now, here’s where it could be an issue: IF he needed more cash to pay the loan off, he could, as long as it falls in the guidelines of the franchise agreement take more money out of the team as a dividend.  He had 100% voting share so he can decide how much he pays himself.  
 

That could be the case.  But who knows, really.

 

 

Edited May 17, 2022 by Voice_of_Reason

[88Comrade2000]

I voted the second option. The yacht, the house and buying out his partners took his liquidity.