Skinsinparadise Posted February 28, 2023 Share Posted February 28, 2023 (edited) That article, wow. Some of us argued about Dan's cash flow issues including me @KDawg, @Conn @BatteredFanSyndrome among others. Some pushed back. But the reason why i kept pushing is local reporter after local reporter and some national reporters and some of Rivera's own comments alluded to it. But that article takes the point up a notch. Dan basically milked the team's finances according to that article for his own personal lifestyle. I get the outrage from the minority owners point of view because that directly effected them when he mixes the personal and business finances and to the detriment of the business. Arguably its not as flagrant when he's the sole owner. But when you got others with 40% minority ownership, wow. Jack Kent Cook famously would use outside business money to pour money into the team. Looks like Dan does it in reverse by puliing money out of the team. Edited February 28, 2023 by Skinsinparadise 8 1 1 Link to comment Share on other sites More sharing options...
Andre The Giant Posted February 28, 2023 Share Posted February 28, 2023 1 Link to comment Share on other sites More sharing options...
Skinsinparadise Posted February 28, 2023 Share Posted February 28, 2023 (edited) I'll add its bad enough their operating money is lower than most teams and that pool continues to shrink according to some following the ownership pursuit right now -- but Dan apparently sucks some of that money out for himself on nonsense making that pool of money even lower. https://www.espn.com/nfl/story/_/id/35726691/former-partners-say-dan-snyder-used-team-fund-lifestyle-took-improper-loan-their-approval ...The partners said they already knew the team's local revenues -- those derived apart from NFL media rights deals -- had dropped by one-third over the previous decade, from $241 million in fiscal year 2009 to $160 million in fiscal year 2020. "Snyder used the proceeds from the Credit Agreement to disguise [the team's] poor operating performance and cash flow problems, and, at least in part, to enrich himself improperly at the expense of [the team] ... and other stockholders," the petition alleged. Edited February 28, 2023 by Skinsinparadise 2 Link to comment Share on other sites More sharing options...
KDawg Posted February 28, 2023 Share Posted February 28, 2023 But this league is revenue sharing so that’s not how it’s works, @Skinsinparadise. People here tell me that all the time. It’s the team’s money that goes to FA. Not Dan’s. 7 Link to comment Share on other sites More sharing options...
BatteredFanSyndrome Posted February 28, 2023 Share Posted February 28, 2023 Rarely do I feel any level of vindication for pointing out the obvious when it comes to Dan and his reign of absolute terror on this franchise. But what’s reported in this article more than validates the cash flow concerns that were being reported as having a negative impact on the football operations of this team. No, he’s not just an awful human and inept owner - his failures and lack of success in every other venture had him using this team like his personal ATM. Something other owners don’t have to do because they are making money in numerous other ways. 12 1 1 Link to comment Share on other sites More sharing options...
Skinsinparadise Posted February 28, 2023 Share Posted February 28, 2023 1 minute ago, KDawg said: But this league is revenue sharing so that’s not how it’s works, @Skinsinparadise. People here tell me that all the time. It’s the team’s money that goes to FA. Not Dan’s. Yeah and Dan has a Yacht among other things and he's not broke. So we are just siilly gooses. 4 Link to comment Share on other sites More sharing options...
rockluc Posted February 28, 2023 Share Posted February 28, 2023 Feels like this thing is coming to a head soon. Stories are coming out with increasing frequency. expecting some agreement in place by 3/17 at the latest. Just a hunch Link to comment Share on other sites More sharing options...
kingdaddy Posted February 28, 2023 Share Posted February 28, 2023 10 hours ago, SoCalSkins said: So once this sale is complete one way or another, who becomes worst owner in the NFL? Is there anyone even remotely close to what Dan is? Hint: his initials are JJ 2 Link to comment Share on other sites More sharing options...
Skinsinparadise Posted February 28, 2023 Share Posted February 28, 2023 (edited) 25 minutes ago, actorguy1 said: I think these new Snyder stories are the "Hurry the Hell up and sell this team, and don't exclude anyone" wake-up call. This reminds me of when a company is getting ready to fire someone so they start documenting their recent screw ups so they are legally safe to fire them. Yeah Dan is going to regret dragging this out, his already atrocious reputation is being dragged down even more. I've gone from thinking if push comes to shove its 50-50 that owners would vote him out to it now being almost slam dunk they'd vote him out. It would be utterly embarassing for the owners to vote to keep Dan in the club. Edited February 28, 2023 by Skinsinparadise 2 1 3 Link to comment Share on other sites More sharing options...
KDawg Posted February 28, 2023 Share Posted February 28, 2023 9 minutes ago, Skinsinparadise said: Yeah and Dan has a Yacht among other things and he's not broke. So we are just siilly gooses. I think the strangest part of the whole "it's not Dan's money it's the team's money" narrative to me is that a lot of the same people saying that want Bezos. Why? If it's the League's money then why does it matter if it's Bezos? His extra money doesn't come into play. 4 Link to comment Share on other sites More sharing options...
Zim489 Posted February 28, 2023 Share Posted February 28, 2023 Essentially fraud. People have been put in club fed for less 2 2 Link to comment Share on other sites More sharing options...
Conn Posted February 28, 2023 Share Posted February 28, 2023 (edited) Fondly remembering all the dip****s around here who couldn’t fathom a cash poor “billionaire” whose lifestyle is propped up by his only worthwhile asset. With some real attitude and haughtiness, too. Do some self-reflection because all the signs and reports were there. And not only were you wrong, you missed on THE operative pivotal issue that is forcing Snyder to sell after all these years—he’s broke and leveraged to hell and has already been caught with his hand in the cookie jar multiple times. Edited February 28, 2023 by Conn 9 1 Link to comment Share on other sites More sharing options...
KDawg Posted February 28, 2023 Share Posted February 28, 2023 4 minutes ago, Zim489 said: Essentially fraud. People have been put in club fed for less And the whole revenue sharing issue with the college games at FedEx and cooked books should have been taken much more seriously by some folks here. That was the first obvious public sign that something was amiss with the finances. Other things prior added up at that point. But cooked books mean crooked dealings. 8 Link to comment Share on other sites More sharing options...
Skinsinparadise Posted February 28, 2023 Share Posted February 28, 2023 (edited) 9 minutes ago, KDawg said: I think the strangest part of the whole "it's not Dan's money it's the team's money" narrative to me is that a lot of the same people saying that want Bezos. Why? If it's the League's money then why does it matter if it's Bezos? His extra money doesn't come into play. Exactly. The personal wealth of the owner looms large in the sales talk in so many ways. Can they afford to buy the team without leveraging themsleves? Can they pay for a stadium without public help? Put money to improve facilities, etc? It's obvious. It's not a debatable point. In the SB special about the 1991 season, Jack Kent Cook referenced he made a good amount of money in his business and is putting it into the team -- he joked for them to waste. It's been reported many times that Kronecke (Rams) cash flow has helped the Rams (he doesn't care about escrow money, etc) including building a spanking new stadium via his own money. Then we got Dan with his outside business failures. How can't that be relevant? He's leveraged himself by buying out his partners, and stuck with a 450 million loan. And he has to pay for a stadium himself if he remains as owner that most say is 3 billion dollars. It's just basic math. And heck if there was any question still, local reporter after local reporter and national reporters have referenced his cash flow issues. Heck even Rivera did when he referenced how expensive it is to do camp in Richmond and won't be doing it this year. This article takes the point up several notches. Not only is Dan not putting money into this team, he's actually bleeding money out of it. Edited February 28, 2023 by Skinsinparadise 5 1 Link to comment Share on other sites More sharing options...
JamesMadisonSkins Posted February 28, 2023 Share Posted February 28, 2023 7 minutes ago, KDawg said: I think the strangest part of the whole "it's not Dan's money it's the team's money" narrative to me is that a lot of the same people saying that want Bezos. Why? If it's the League's money then why does it matter if it's Bezos? His extra money doesn't come into play. One person taking money from the team to impact operations for personal moneys. One person potentially using personal funds to benefit the team (and owners) Not saying Bezos will put his own money into the franchise BUT, at least he won't be stealing it to the detriment of team facilities and operations. 3 1 Link to comment Share on other sites More sharing options...
KDawg Posted February 28, 2023 Share Posted February 28, 2023 1 minute ago, JamesMadisonSkins said: One person taking money from the team to impact operations for personal moneys. One person potentially using personal funds to benefit the team (and owners) Not saying Bezos will put his own money into the franchise BUT, at least he won't be stealing it to the detriment of team facilities and operations. I think you're missing the point of my post. 1 Link to comment Share on other sites More sharing options...
Skinsinparadise Posted February 28, 2023 Share Posted February 28, 2023 (edited) Looks like the NFL basically saying hey we worked this out in arbitration. That's fine but it doesn't take away the details. I gather the NFL is worried about their own liability. Edited February 28, 2023 by Skinsinparadise 3 Link to comment Share on other sites More sharing options...
Andre The Giant Posted February 28, 2023 Share Posted February 28, 2023 3 Link to comment Share on other sites More sharing options...
spjunkies Posted February 28, 2023 Share Posted February 28, 2023 Always fun to wake up with our fun team on the front page of ESPN for weird reasons 😎 4 1 Link to comment Share on other sites More sharing options...
rockluc Posted February 28, 2023 Share Posted February 28, 2023 4 minutes ago, Skinsinparadise said: Looks like the NFL basically saying hey we worked this out in arbitration. That's fine but it doesn't take away the details. I gather the NFL is worried about their own liability. Not a lawyer but I’m pretty sure you can’t arbitrate your way out of bank fraud. 2 Link to comment Share on other sites More sharing options...
CobraCommander Posted February 28, 2023 Share Posted February 28, 2023 Lock him up! 2 Link to comment Share on other sites More sharing options...
rockluc Posted February 28, 2023 Share Posted February 28, 2023 Eric Shaffer on the phone with Dan today. 3 8 1 Link to comment Share on other sites More sharing options...
Skinsinparadise Posted February 28, 2023 Share Posted February 28, 2023 (edited) Sheehan talking about this issue right now. He's not new to Dan's liquid issues, he's referenced it before. He sums it all by saying, implying we want Dan to sell even if its just for this issue. As fans, we don't want him because he doesn't have the liquidity that other owners have. Obviously among many other issues with Dan. Forgetting all the other details from that article, the premise of it was he had to take out a 55 million dollar loan. We know about the 450 million loan. Keim who I trust the most has said, he has too much debt. And he suggested he doesn't think the NFL will allow more debt. Edited February 28, 2023 by Skinsinparadise 2 Link to comment Share on other sites More sharing options...
Hoover-ball Posted February 28, 2023 Share Posted February 28, 2023 Count me among those who did not see the signs soon enough. Not that I ever liked Snyder as an owner but I see my friends who did not want to keep putting money into this team were more right than I realized. 6 Link to comment Share on other sites More sharing options...
tshile Posted February 28, 2023 Share Posted February 28, 2023 50 minutes ago, Skinsinparadise said: Some of us argued about Dan's cash flow issues including me @KDawg, @Conn @BatteredFanSyndrome among others. Some pushed back. But the reason why i kept pushing is local reporter after local reporter and some national reporters and some of Rivera's own comments alluded to it. But that article takes the point up a notch. Dan basically milked the team's finances according to that article for his own personal lifestyle. I’ve been saying this for years. anyone who was a season ticket holder saw what was going on with attendance. He used the team as his personal slush fund and ran it into the ground. He simply cannot afford to own the team anymore. he either needs a significant minority-share investment, or to sell the team. the long term effects of most of us boycotting the stadium and merchandise and even TV has paid off. 6 5 Link to comment Share on other sites More sharing options...
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