Nah Nah Nah…Nah Nah Nah…Hey Hey Hey…GOODBYE CLOWNSHOES

[ggarriso]

30 minutes ago, NoVaSkins21 said:

Not sure what Jay-Z has done after becoming a billionaire himself that warrants him as "complete trash"  They guy has been very successful in his own genre and could also help attract FA to this team.  It's quite possible that Bezos offer doesn't come unless it's with Jay-Z  

 

Edited November 5, 2022 by ggarriso

[ThePackisback]

I apologize to you guys about Thursday night. I derailed this thread into A different subject. Ok that’s all I have. Seriously I was wrong. Anyways no more posts from me in this thread. I’ll stick to other threads.  I hope you guys forgive me. Oh and @Cooleyfan1993 and @Sinisteri hope you guys haven’t given up on me just yet.

[Phantvm]

5 minutes ago, FootballZombie said:

 

The more I see this from reputable sources the better I feel. Keep em coming, can't get enough.

 

January can’t come soon enough. Hopefully by then it’s mere formality!

[NoVaSkins21]

1 hour ago, ggarriso said:

 

 

Staying from this to avoid the ban

Edited November 6, 2022 by NoVaSkins21

[CommanderInTheRye]

 

 

Only remaining question:

 

Will Snyder take the biggest bag and ride off quietly into the sunset like a nice obedient puppy or will he be vindictive towards the man whose newspaper helped to oust him and take less money just so Jay-Zos won't get the team and the unbridled affection of an instantly rejuvenated fan base?

[Voice_of_Reason]

24 minutes ago, Wildbunny said:

With Jay G as HC?

[Jumbo]

People are making comments re: jay-z that are not about football and cross onto matters you'll get temp banned for when posting them in this forum. See sticky thread at top of the forum.

 

We don't even know what is going to happen on multiple fronts so getting banned over jay-z debates that contain views on matters that cross the aforementioned lines would be extra dumb.

 

 

@ggarriso go back and edit the jsy z comments out of your post asap to avoid the ban I mentioned.

 

Ditto for anyone quoting those comments or adding their own.

[Zim489]

If they are saying they will make a bid they probably already havw

[Voice_of_Reason]

25 minutes ago, Wildbunny said:

Muriel Bowser had an interesting point regarding the stadium lately. Saying that there were 2 things refraining them to get the team back in DC.

1. Being the name.
2. Having to deal with Dan Snyder.

The name is now gone, and with Dan Snyder out of the equation, it clearly opens the door to the team moving back to DC.

 

I don't doubt the owners were aware of these points and also weighted quite a bit when they picked their side.

In fairness, there's actually more to it than that. Bowser likes to talk, but often understates things.  People need to not forget, The Squire Jack Kent Cooke himself tried to get a stadium in DC for a decade, and he had 4 SBs appearances, 3 SB wins, and coming off of a decade of dominance, the team at the height of popularity, and he couldn't pull it off. 

 

I get that things have changed since the 80's and 90's, but there are some things which stay the same: death, taxes and the DC Government is a **** to deal with.  Throw in the federal aspect, and it's a double pain in the ass.

 

That said, I do agree with your overall point: there should be almost no obstacles for a new owner to get a sweetheart deal from one of the three municipalities with Dan out of the way.  VA was going to give the team $3B and then there was public outrage over Dan.  With Dan gone, things will happen, and I agree, that was almost assuredly part of the calculous of the other owners. 

[Riggo#44]

50 minutes ago, Phantvm said:

Interesting thought, should we move on from Ronald before the 23 season, who would you like to see be HC? I suppose more importantly who do you want as President of FO and GM?

I wouldn't mind bringing in Ken Dorsey. 2 years from now, he will probably be ready. Pair him with an experienced DC like Fangio or Zimmer. Pull in an OC from the Shanahan or McVay line. Hell Rodgers will probably fire LaFluer before long too.

 

As for GM, get someone from the Eagles, Ravens, Chiefs, Bills FO. A team that drafts well.

 

With Jay-Zos in charge this would be a prime destination rather than a grave yard.

 

 

....pun intended...

[Voice_of_Reason]

27 minutes ago, Zim489 said:

If they are saying they will make a bid they probably already havw

The story says they will make the bid in January.

 

My guess is the bidding period isn't open yet.  BofA was just hired in the last couple weeks, they will need time to set up the data room, management decks, financials, etc which any bidder is going to look at before making any bid.  
 

It all takes time.

Edited November 5, 2022 by Voice_of_Reason

[Riggo#44]

27 minutes ago, Voice_of_Reason said:

I get that things have changed since the 80's and 90's, but there are some things which stay the same: death, taxes and the DC Government is a **** to deal with.  Throw in the federal aspect, and it's a double pain in the ass

They almost botched the deal with MLB and the Nationals bevause it was such a cluster...

I'll never forget Marion Barry claiming he was working with Bob DuPuy to get a better deal for the city. To wich DuPuy said "I've never spoken to Marion Barry, ever."

4 minutes ago, Voice_of_Reason said:

The story says they will make the bid in January.

They won't announce anything until after the Super Bowl most likely.

[Voice_of_Reason]

FYI I posted somewhere all the normal steps that have to happen for any sale of a business, especially one of this size and complexity to take place.  At some point when I’m in front of a computer I will find it and post a link.

 

Typically, it’s a 5-6 month minimum process.  I’m working with a company now when a deal was announced early August and it hasn’t closed yet.  Which means the sale process started months before then.  
 

It will happen.  But a multi-billion dollar transaction is massively complex, and will take time.

 

From the point the Broncos we’re officially put on the market to the time Walmart bought them, it was 5 months.  And the Walden family could have written a check on day 1. 
 

So just relax and enjoy the process.  

5 minutes ago, Riggo#44 said:

They won't announce anything until after the Super Bowl most likely.

It will be interest to see if/when bidders are revealed.  In a lot of cases, it’s considered confidential.  That said, in this case, the bidders might want the information out there. If it’s revealed, I’d be willing to bet it’s the bidder who “leaks” it, nit the team, nit BofA and not the NFL.  

 

But I doubt anybody wants the amount of their bid out there, because that’s intel another group could use.  

[zCommander]

1 minute ago, Voice_of_Reason said:

So just relax and enjoy the process.  

 

🤔 Hmmmmm.... telling bunch of Extreme Skins/Commanders fans to relax, wait and enjoy. 

[Voice_of_Reason]

One more thing to keep in mind: the bidders will NOT be valuing the team based on the Forbes valuation report.  They will do it themselves based on a whole lot of information which BofA will compile and put in a data room. (Virtual,  not an actual room). It will contain financials, contractual obligations, assets, all kinds of things a buyer will need to know before they make any type of a bid.

 

My guess is they are in the process of compiling this information now.  Then they will grant access to specific bidders, and allow them to review and ask questions for some period of time.  Then there will be a bidding period.  
 

Based on my experience with other companies of this size, my guess is the initial period will last about a month.  Then it will be about a month if back and forth before bids are due.  I’d guess they would set a deadline for bids somewhere around Jan 15, given the holidays. 
 

That’s just a guess but based on my experience with financial transactions of this type, that’s where it would land.   

[Voice_of_Reason]

6 minutes ago, zCommander said:

 

🤔 Hmmmmm.... telling bunch of Extreme Skins/Commanders fans to relax, wait and enjoy. 

[PigskinRedskin]

2 minutes ago, Voice_of_Reason said:

One more thing to keep in mind: the bidders will NOT be valuing the team based on the Forbes valuation report.  They will do it themselves based on a whole lot of information which BofA will compile and put in a data room. (Virtual,  not an actual room). It will contain financials, contractual obligations, assets, all kinds of things a buyer will need to know before they make any type of a bid.

 

My guess is they are in the process of compiling this information now.  Then they will grant access to specific bidders, and allow them to review and ask questions for some period of time.  Then there will be a bidding period.  
 

Based on my experience with other companies of this size, my guess is the initial period will last about a month.  Then it will be about a month if back and forth before bids are due.  I’d guess they would set a deadline for bids somewhere around Jan 15, given the holidays. 
 

That’s just a guess but based on my experience with financial transactions of this type, that’s where it would land.   

 

Thanks for the information and makes sense.

 

Whomever is bidding and wanting to take ownership needs to know all the financials, debts, profits, margins, etc. and something of the scale of an NFL Franchise has a lot of revenue streams and bills.

[Skinsinparadise]

 

 

[Voice_of_Reason]

** I put this in the "Should Ron Leave" thread, but really it's more relevant here.  It's a tome, so, sorry about that.  For the last 7.5 years, I worked as a partner for a consulting firm that specialized in financial transactions.  I've never worked on an NFL sale, obviously, but I have worked on deals for multi-billion dollar entities.  So below is an outline of what usually happens in these types of transactions.

 

Even if Elon Musk or Anthony Bezos came to Dan and said, "Cash good?  I'll have it wired tomorrow" there are SO many complexities of a deal of this size, they take time.  And the lawyers, accountant and consultants all need to make their money on the transaction as well, which takes time...

 

At a minimum, here is what generally happens with a sale of a multi-Billion dollar legal entity (This is somewhat simplified...):

 

1. The seller announces it's intention to sell by hiring an Investment Bank (IB).  Check.  That happened, announced this week.  BofA Securities.  To our knowledge, this is the only thing which has happened, and it happened recently.  

2. The IB is going to take the team to market.  They will prepare financial and operating decks which they will send to prospective buyers.  This takes some time to compile.

3. This is going to be a complicated deal.  Because this is an NFL Franchise, they are going to be somewhat complicated, since the team owns the franchise, the real-estate, stadium, merchandising, sponsorships, etc.  There is the union component, and a variety of other things the IB is going to outline in the seller decks, outlining the current financial situation, valuation, defense of the valuation and the forecast.  Even though everybody knows the team, there's just a ton more stuff which has to be included in the sale of a multi-billion dollar entity.  It's somewhat mind-blowing.   All this stuff goes into a "data room." and access is granted to qualified bidders.  They have access to all of this stuff to formulate their valuations and determine their bid amounts.  

4. Once the seller, or management decks, are sent to prospective buyers, there will be a period of meetings with prospective buyers.  They will have the opportunity to interview management, most likely Jason Wright and the CFO, marketing and sales leads.  Maybe Dan?  That's a question, I'm not sure if they would need to/want to meet with Dan.  Most often the buyers will want to meet with the former They will submit questions, and then the team will have to turn around answers.

5. Then there will be a period where bids are submitted.  This can be a couple week period after the management meetings.

6. Often there is a down-selection process.  So, if there are 2 or 3 bids which are considered, and the seller goes back to them to tell them they are in the final running, and there are another series of negotiations.

7. Then a "winner" is selected.  The "winner" signs a "Letter of Intent" which is a legal document laying out the terms of the sale.  For an NFL team, this is going to be complex for the reasons outlined above. 

8. Then there is typically a 2-3 month period, but I've seen it last up to 6 months, of "due diligence" and legal stuff.  The buyer now will hire several firms to go over every single aspect of the business they are buying.  Financial, operational, marketing, they will go through agreements and current negotiations on the stadium, absolutely everything.  It's like a colonoscopy for a business.  Rather unpleasant to go through.  

8a. And with the Commanders, it might take longer than with other team sales because of the 8,937 investigations they are involved with. The new buyer will want to make sure all of that is settled and closed before they take on ownership of the team.  

8b. During this time, the legal documents of the sale are also drawn up.  If you've ever signed mortgage papers, that's a TINY example of ownership transition.  This is for a multi-billion dollar, vast entity.  These things are huge.  They will get reviewed by both sides legal teams multiple times.  This takes time.  

9. Then they set a date and close the deal.  Money will be transferred to Dan and whoever his lenders are.

10. Then the new owner can can do what they want.

 

A couple additional NFL specific things also have to happen:

1. The buyer has to be vetted

2. The finance committee has to approve the transaction

3. I believe full ownership has to vote and approve by some margin the new owner.  

 

I'm not suggesting those things will be hard, but they will also take time.  The logical time for all of that would be the owners meeting in March.  But it could be sooner.  

 

To preempt a question I get sometimes, "you know who the buyer is, why not let them start making decisions before the deal officially closes?"  the reason is it is traditional the new ownership NEVER starts to do anything with the business until after deal close. Because there are a million points along the way the deal can fall through.  So until deal close, you're not even going to ask the new person "what should I do with Ron?"  Because if new guy for some reason can't buy the team, you're stuck with a decision you didn't make. And more importantly, a decision a different buyer might not want, if you have to start over.  

 

We even have an example of a potential acquisition which fell through for this franchise: The Milstein group, where Snyder was a minority party of, was the front runner to buy the team from the Cooke estate.  And they were in the diligence period, and the deal fell through.  Then Snyder put together his group, which ended up closing the deal.  Deals fall through all the time.  

 

Needless to say, all of this stuff takes a lot of time.  For reference when the Broncos were put up for sale after all the court battles, it was Feb 2022.  Walmart (rather, the Walden family) bought it in June.  That's 5 months.  And the Walton's are like the Bezos' and Musk's of the world, they could just pay cash for it. They are SUPER rich.  And it still took 5 months. And that was probably a simpler process because the lack of all the extracurricular stuff we have going on with Dan.

 

Now, could a Bezos or Musk or somebody literally not care about any of this and just write a check and get it done much faster?  Sure.  Fire-sales happen.  But I doubt that's going to be the case here.

[Phantvm]

1 hour ago, Riggo#44 said:

I wouldn't mind bringing in Ken Dorsey. 2 years from now, he will probably be ready. Pair him with an experienced DC like Fangio or Zimmer. Pull in an OC from the Shanahan or McVay line. Hell Rodgers will probably fire LaFluer before long too.

 

As for GM, get someone from the Eagles, Ravens, Chiefs, Bills FO. A team that drafts well.

 

With Jay-Zos in charge this would be a prime destination rather than a grave yard.

 

 

....pun intended...

Dorsey is interesting. He has the benefit of Allen/Diggs at the moment though and is still just in year one as an OC. With that said, he’s clearly worked wonders for Allen as he was previously his QB coach and Allen wanted him as the OC with the departure of Daboll. I agree OC is the way to go but not overly certain Dorsey is the match. 
 

 

As for GM…just promote Beane to P of FO and then from there let him conduct a GM search. Honestly no one would be higher on my list than Beane.

Edited November 6, 2022 by Phantvm

[Voice_of_Reason]

1 minute ago, Skinsinparadise said:

 

 

I think Joe DePoma might be jumping the gun and not understanding the process a bit.  The tweet and NY Post Story said they would put in a bid to buy the team in January.  That's fine, that's about when I think bids will be due after a 2 months period of putting the data room together and then a month of management meetings.

 

It still probably would take another several months for the deal to close.  

 

Also, I think you'll see at least 6 if not more, bids by January.  

 

I will say, I love all this reporting and news, everything is going in the right direction.  

 

But I think Joe is reacting to a headline a little incorrectly here.  

4 minutes ago, Phantvm said:

As for GM…just promote Beane to P of FO and then from there let him conduct a GM search. Honestly no one would be higher on my least than Beane.

I don't think he's leaving Buffalo.  But you never know.  

[Zim489]

I’d put 100 bucks down that the league wants this done to do them clean sweep of everyone in January

[Phantvm]

8 minutes ago, Voice_of_Reason said:

I don't think he's leaving Buffalo.  But you never know.  

In a world without Bezos ownership, I’d agree. But hey, we can dream can’t we? What has happened in Buffalo is the thing of legend. From possible relocation to a perennial contender and new stadium in the works. Beane would be a master stroke of genious. 
 

@Skinsinparadise what is your take away from that report? Feeling more at ease at the possibility of its realization?

Edited November 6, 2022 by Phantvm

[Riggo#44]

17 minutes ago, Phantvm said:

Dorsey is interesting. He has the benefit of Allen/Diggs at the moment though and is still just in year one as an OC. With that said, he’s clearly worked wonders for Allen as he was previously his QB coach and Allen wanted him as the OC with the departure of Daboll. I agree OC is the way to go but not overly certain Dorsey is the match. 
 

 

As for GM…just promote Beane to P of FO and then from there let him conduct a GM search. Honestly no one would be higher on my list than Beane.

I'm thinking in two years, maybe Dorsey. Maybe not. I like what he's done with Buffalo and Allen's endorsement means a lot.

 

Here is the other thing: if it's Team Jay-Zos (I am really promoting that name!) they will have the capital to outbid anyone for top FO talent.

 

This team is still going to need a lot of work--we'll have 99 problems...but that **** ain't one.

[Skinsinparadise]