Do you think Dan Snyder is broke?

[KDawg]

23 minutes ago, Voice_of_Reason said:

1. Drink beer by pool, on a beach, by our fire pit, while BBQing, sitting on couch, at dinner table...  honestly, I have plenty of opportunities to drink beer.  (Granted, I really don't drink a lot anymore, but when I want to, I don't need an excuse of going golfing to do it.)

 

2. Smoking cigars. Never smoked one, never wanted to.  Never smoked anything, as a matter of fact, except a hookah 3 times in college.  Just not my bag.  

 

3. Throw clubs.  Well, I like to go axe throwing. Which is a lot of fun.  But I probably wouldn't throw golf clubs anyway.   When I was growing up playing tennis, I would slam and throw my racquet.  The problem was, at that time, I only had one.  One day, in a fit of rage, I smashed it on the ground and it broke.  Well, 2 things happened:  1) I lost the match because I didn't have another racquet.  2) I was out a couple hundred bucks buying a new one. I guess there was a third: I looked and felt pretty stupid.   I treated my racquet like a godamn crystal vase from that point on.

 

My parents were immigrants from India.  Golf was just never a thing in our house. I played tennis and was on swim team growing up because that's what they did. By the time I was really cognizant of golf, I was probably in college, and by that point, I was on to another sport, bicycling.  So, shrug.  It never was a thing for me.  Never really have had a desire for it, either.  

 

I picked up football because we went to a SB party after the 1982 season to watch the Dolphins and the Redskins play, and one of my parents friends sat and described the game to me.  I was ~7. The first game I ever watched was the Redskins winning the SB.  My parents never really "got it."  

I don’t smoke cigars, either. But you won’t catch me admitting it! Other than right now, anyways.
 

Also your response was way too serious. Live a little. Throw a club or 3. I once teed off with my putter I was so frustrated. I snapped the head off. Putter deserved it for failing me, of course. It was not me being a poor loser or anything of the sort. 

Edited August 28, 2022 by KDawg

[Voice_of_Reason]

2 hours ago, KDawg said:

I don’t smoke cigars, either. But you won’t catch me admitting it! Other than right now, anyways.
 

Also your response was way too serious. Live a little. Throw a club or 3. I once teed off with my putter I was so frustrated. I snapped the head off. Putter deserved it for failing me, of course. It was not me being a poor loser or anything of the sort. 

I have a foam brick with a Redskins logo on it which says “bad call.”  it’s my bad call brick.  
 

That foam brick has been thrown at walls, TVs, and at times people. It MIGHT have knocked my roommates small TV off a dresser when I was in college. (Which MIGHT have been intentional, we were watching the ‘skins vs Eagles game and the Eagles we’re winning, and he was an Eagles fan…)

 

But it’s a gamer. Never lets me down.   Takes a beating and keeps coming back for more.  
 

I love that brick.  

[slinky]

for a moment i hoped thought this was Dan's yacht.

[BringMetheHeadofBruceAllen]

If only...if only

 

 

 

[Conn]

3 hours ago, Conn said:

Really interesting nugget from that anonymous agent quote: “they’re doing what they’re allowed to do under Snyder and following Rivera’s mission”.

 

That’s about as close a direct confirmation of the cash flow issues as you’re going to get. It couldn’t really mean anything else, in context.

 

Also, our suspicion that this decision-making braintrust moves a little slowly bc it all runs through Rivera is directly confirmed as well. Our FO is full of good guys with integrity who have earned respect around the league, but it’s not light on it’s feet or quick to react. 

 

 

 

[BatteredFanSyndrome]

This thread would be better served as “Do you think Snyder’s cash flow impacts football operations?”.

 

The “broke” angle sends the conversation sideways.  Clearly no NFL owner is broke or even close to it.

 

However, that doesn’t mean his financial situation has no impact on football operations.

Edited September 1, 2022 by BatteredFanSyndrome

[Voice_of_Reason]

13 hours ago, BatteredFanSyndrome said:

This thread would be better served as “Do you think Snyder’s cash flow impacts football operations?”.

 

The “broke” angle sends the conversation sideways.  Clearly no NFL owner is broke or even close to it.

 

However, that doesn’t mean his financial situation has no impact on football operations.

I agree with this.  

 

I still don't think he has cash flow problems.  If you wanted to say he was being cheap and keeping more money for himself, like the Bidwells and Brown (Bengal owners) families have done for eons, I'd ABSOLUTELY hear you out on that.   I would also hear you out that he was meddling (having signings run through him) or put some type of a budget on Ron. Any of those would hold water.

 

The way the NFL is set up, I still don't think he has actual cash flow issues, and it has nothing to do with Snyder.  It's the TV money, NFL Collective Bargaining Agreement (which includes the salary cap) and Revenue Sharing all used in conjunction which basically eliminates the ability for ANY NFL team to have cash flow issues to the point where they can't sign any player they want to at any time for any amount as long as they stay under the cap.  

 

The Giants, Steelers and Packers (to name just 3 teams) are all owned either by the public or by families with no real other holdings other than the football team.  I think the Bears are the same.  The Packers don't even have an owner, they are public.  You don't need outside income to pay players with the situation the NFL has set up.

 

My objection to the "Snyder is Broke" has never been that he isn't a problem.  It's just that I think it's insane to think an NFL team with the shared income and negotiated 49% revenue to players through the CBA is going to have cash flow issues.  It's just not how the money works, based on anything that I can find. 

 

And one other thing: it's been bandied about that he took an $850m loan to buy out the other owners.  That has not been reported.  What has been reported is the sale price of $850m, and the NFL gave him a debt exemption of $450m.   Which is, as far as we know, the only debt which is remaining on the team or stadium.  He did re-structure a loan back in ~2000, but that's the last we've heard of it.  He also sold Snyder Communications for $2B of stock in ~2000, and we have no idea what he did with that money.  He could have blown all of it on Johnny Rockets and 6-flags for all I know. Or he could have quite a bit remaining.  

 

One key thing to remember with the buying out of his partners is he is down $850m, but now he gets 100% (instead of 60%) of any revenue from the team.  So his current liquid assets went down but his cash flow increased. This is conjecture, but I'm guessing the NFL Finance Committee took that into account when they gave him the debt waiver. Because there is no way they would give him the debt waiver if they thought he couldn't pay it back.  It would be MASSIVELY bad for the NFL if they had a franchise which couldn't pay it's bills.  

 

I will grant if he's going to build a new stadium, he's probably going to have to pay for it himself.  So that will be a big future purchase, so maybe he is planning for that.  

[Conn]

Having to keep more money for himself than he used to due to cash flow issues vs. choosing to keep more money for himself (maybe in preparation for his biggest expense ever in building a ~$3B stadium alone), to me there’s no distinction. A change in willingness to throw around guaranteed money, or convert future owed salary into immediate signing bonuses—being less willing to do things like that, which require locking up liquid cash, for whatever reason, it effects competitiveness either way.
 

So to me it doesn’t really matter who’s “right” on that aspect. It’s bad for fans either way. Snyder was always cheap with the non-public facing things (locker rooms, workout facilities, indoor training facility, cafeteria, office spaces, etc.), and cheap on ancillary staff wages (assistant coaches, scouting department, etc.) and only ever really splurged on the high price guys that were very visible to fans (big name players and Head Coaches). He was never super free with his money in general which is why many of us ALWAYS called BS on the people who said “he’ll do anything to win and spends a ton of money, he just doesn’t know what he’s doing”. No, it was always calculated and stingy how he spent that money, he was just wasteful and clueless with the money he DID spend.

 

So now we’re just potentially seeing his cheapness extend into other areas, right as we enter an era where the rest of the NFL is so damn rich that they’re actually adopting Snyder’s old “guaranteed cash is king and the salary cap is a slide puzzle, not a hard ceiling” philosophy.  Depressing. 
 

 

Edited September 2, 2022 by Conn