BringMetheHeadofBruceAllen Posted February 28, 2023 Share Posted February 28, 2023 (edited) Just imagine how all of this could likely have been avoided if Goodell hadn't insisted on an aural report only from the Wilkinson investigation. That's what drew the extra scrutiny from Congress, former partners, lawyers, etc...that and Snyder's ridiculous decision to release those emails that got Gruden fired in an effort to smear Bruce Allen. Edited February 28, 2023 by BringMetheHeadofBruceAllen 6 1 1 Link to comment Share on other sites More sharing options...
FrFan Posted February 28, 2023 Share Posted February 28, 2023 "One source with firsthand knowledge of the proceedings told ESPN the partners believed Goodell and NFL general counsel Jeffrey Pash sided with Snyder over them. GOODELL WAS HARDLY a bystander to Snyder's Bank of America loan. The commissioner's signature appears in a confirmation agreement that approves the team's new credit line on the day it was approved: Dec. 13, 2018. Goodell knew about the loan," said a source with firsthand knowledge of the matter, "but the partners didn't." Time to hit a strike here and get rid of both of them. 6 2 Link to comment Share on other sites More sharing options...
Jumbo Posted February 28, 2023 Share Posted February 28, 2023 1 hour 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. Competent analysis can be hard stuffs. 1 6 Link to comment Share on other sites More sharing options...
tshile Posted February 28, 2023 Share Posted February 28, 2023 14 minutes ago, Spaceman Spiff said: You're not taking taxes into account. Plus I bet he owes more money to other parties, we just don't know it. my thought, and I’ve thought this for years, is his life was afforded by leveraging the team. im guessing his yacht, homes that are worth less than he owes, cars, and general lifestyle was afforded this way. he was playing a game and it caught up with him. and if the team was relevant and successful to the point fans quit boycotting (let’s say in contention for the division every year, making the playoffs half the time, winning a playoff game here and there, but never a Super Bowl appearance) he probably gets away with it all. mortgaging the future isn’t always a bad idea. But. When it doesn’t work you tend to lose everything… im sure he’ll still have money but that 6 billion he wants will be significantly less when it’s all said and done. hell 40% of what he owns is on loan for buying out the minorities shareholders (although it’s not for 40% of 6 billion…). And he borrowed money for the 60% he already had when he bought it. 1 Link to comment Share on other sites More sharing options...
SoCalSkins Posted February 28, 2023 Share Posted February 28, 2023 (edited) 1 hour ago, Zim489 said: Essentially fraud. People have been put in club fed for less There is no need for “essentially” if he did not report the benefits on his own tax returns. If there is not a corresponding $4.5 million in income for the logo in the plane it’s blatant tax fraud. The documents that are the basis for this letter and investigation are all in the hands of Mary Jo White. She’s the lawyer doing the latest investigation for the NFL but she is also the former chair of the SEC. This type of fraud is well within her area of expertise, Dan is cooked. Edited February 28, 2023 by SoCalSkins 1 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 1 Link to comment Share on other sites More sharing options...
profusion Posted February 28, 2023 Share Posted February 28, 2023 (edited) This is a big deal for the NFL. If these reports are true, then the league knowingly aided and abetted fraud. What else have they done to protect owners, and for whom? Another intriguing aspect is that this story comes from ESPN, a league partner. Is this a warning shot? Also, you just KNOW that there's a lot more where this came from. If Dan had even an ounce of intelligence, he'd have sold the team immediately after the Wilkinson investigation--which is probably the quiet resolution the league was hoping for. Edited February 28, 2023 by profusion 5 Link to comment Share on other sites More sharing options...
SoCalSkins Posted February 28, 2023 Share Posted February 28, 2023 So the indemnification makes more sense now. Fred Smith and Schar sold their 40% stake based on cooked books for $850 million. If the team sells for 6.3 billion that stake is worth $2.5 billion. There will be lawsuits to recoup some of that $1.6 billion. Goodell essentially refused to investigate their claims of financial fraud and mediated the sale for $850 million. The NFL will be named in the lawsuit regardless. 6 Link to comment Share on other sites More sharing options...
jjpomeroy Posted February 28, 2023 Share Posted February 28, 2023 2 hours ago, kingdaddy said: Hint: his initials are JJ Close, but I am thinking Haslam Link to comment Share on other sites More sharing options...
profusion Posted February 28, 2023 Share Posted February 28, 2023 3 minutes ago, SoCalSkins said: So the indemnification makes more sense now. Fred Smith and Schar sold their 40% stake based on cooked books for $850 million. If the team sells for 6.3 billion that stake is worth $2.5 billion. There will be lawsuits to recoup some of that $1.6 billion. Goodell essentially refused to investigate their claims of financial fraud and mediated the sale for $850 million. The NFL will be named in the lawsuit regardless. They likely waived their rights to bring further actions as part of the sale. That would be a standard part of a mediation settlement. Link to comment Share on other sites More sharing options...
BringMetheHeadofBruceAllen Posted February 28, 2023 Share Posted February 28, 2023 (edited) 8 hours ago, Drfustercluck said: True or untrue, Snyder wore out his welcome years ago. Even if the stories prove false, I can find no well of sympathy inside of me from which to draw an apologetic stance upon which to stand and defend such a crooked, selfish, ego-maniacal despot like Snyder. His time is over, whether he decides to sell outright, or he is forced out. Either way, my heart belongs to my son and his team on Sundays until new ownership emerges. Until then, I've all but checked out. That tweet reeks of Jason Wright. I'm just waiting for his apology: "When we said it was untrue, that was not true. It was true. What was true? I'm confused. The truths were true and it was untrue that we said the truth was not true. That's on me. My bad. We can do better, and we will." Edited February 28, 2023 by BringMetheHeadofBruceAllen Link to comment Share on other sites More sharing options...
Ghost of Posted February 28, 2023 Share Posted February 28, 2023 2 hours ago, Skinsinparadise said: 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. Yeah I can't claim to be first for certain but I reiterated in burgold's thread my take from April in 2022. And it's not exactly news that his other ventures weren't very successful. And that the once free spending Snyder had become notorious for letting incompetent people stay, like Gruden, as much due to frugality as a belief in patience and lessons learned from his early tenure. Link to comment Share on other sites More sharing options...
SoCalSkins Posted February 28, 2023 Share Posted February 28, 2023 1 minute ago, profusion said: They likely waived their rights to bring further actions as part of the sale. That would be a standard part of a mediation settlement. That’s what the lawsuit will be about. They will claim the two sets of books constituted fraud and therefore the sale is not valid. 1 Link to comment Share on other sites More sharing options...
Fan since a Fetus Posted February 28, 2023 Share Posted February 28, 2023 This is not the name change thread, but a thought that crossed my mind while reading this story is that Fred Smith threatened to pull the FedEx name off of the stadium if the Reskins didn’t change their name. My question is, How much did screwing over the minority partners play into that scenario? Was Fred Smith trying to get back at Dan and force him to spend more money rebranding? 1 Link to comment Share on other sites More sharing options...
PleaseBlitz Posted February 28, 2023 Share Posted February 28, 2023 14 minutes ago, profusion said: They likely waived their rights to bring further actions as part of the sale. That would be a standard part of a mediation settlement. You can't waive your rights due to fraud. Link to comment Share on other sites More sharing options...
SoCalSkins Posted February 28, 2023 Share Posted February 28, 2023 (edited) 2 minutes ago, Fan since a Fetus said: This is not the name change thread, but a thought that crossed my mind while reading this story is that Fred Smith threatened to pull the FedEx name off of the stadium if the Reskins didn’t change their name. My question is, How much did screwing over the minority partners play into that scenario? Was Fred Smith trying to get back at Dan and force him to spend more money rebranding? That was 100% tied to that. They wanted him to sell so they could maximize their exit stake. So they added pressure wherever they could. Edited February 28, 2023 by SoCalSkins 1 Link to comment Share on other sites More sharing options...
Zim489 Posted February 28, 2023 Share Posted February 28, 2023 So Bezos as the new owner along with a new Commissioner sounds great 1 2 Link to comment Share on other sites More sharing options...
profusion Posted February 28, 2023 Share Posted February 28, 2023 12 minutes ago, SoCalSkins said: That’s what the lawsuit will be about. They will claim the two sets of books constituted fraud and therefore the sale is not valid. The problem with that, from a legal standpoint, will be that they were aware of the fraud (in fact called it out) when they signed the mediation settlement. It's extremely difficult to set aside a settlement agreement. I'll concede that they are likely to try and that there could well be other factual grounds for doing so. Link to comment Share on other sites More sharing options...
Redwards Posted February 28, 2023 Share Posted February 28, 2023 2 hours ago, spjunkies said: Always fun to wake up with our fun team on the front page of ESPN for weird reasons 😎 5 Link to comment Share on other sites More sharing options...
Die Hard Posted February 28, 2023 Share Posted February 28, 2023 Sometimes I wonder what would have happened if Howard Milstein had actually bought the team instead of Snyder. I’m old enough now to have watched this team go through 2 sales now… and botch both of them. 2 Link to comment Share on other sites More sharing options...
Redwards Posted February 28, 2023 Share Posted February 28, 2023 1 hour ago, Redskins Reparations said: I try to avoid wishing ill will on anyone but the thought of Daniel Snyder receiving a sentence to federal prison would bring me some peace. He'd be used as currency. Fitting. 😏 Link to comment Share on other sites More sharing options...
BringMetheHeadofBruceAllen Posted February 28, 2023 Share Posted February 28, 2023 2 minutes ago, Die Hard said: Sometimes I wonder what would have happened if Howard Milstein had actually bought the team instead of Snyder. I’m old enough now to have watched this team go through 2 sales now… and botch both of them. The NFL should NEVER have approved a snot-nosed 35-year old as the owner of the team. Trust me, I was snot-nosed at 35. The league was blinded by Snyder's money and didn't care enough about his obvious shortcomings as a human being. To me it seems the NFL has run interference for Snyder because they know there are truly 64 accounting books in the NFL...32 legit ones and 32 fake ones. 1 Link to comment Share on other sites More sharing options...
SoCalSkins Posted February 28, 2023 Share Posted February 28, 2023 7 minutes ago, profusion said: The problem with that, from a legal standpoint, will be that they were aware of the fraud (in fact called it out) when they signed the mediation settlement. It's extremely difficult to set aside a settlement agreement. I'll concede that they are likely to try and that there could well be other factual grounds for doing so. The harder part will be getting it out of arbitration but seems like they can argue the ultimate arbitrator Goodell participated in advancing the fraud by refusing to investigate it. Regardless, there is some legitimate risk to a settlement similar to what happened with Kroenke and St. Louis. I can see why Dan would want indemnification. Link to comment Share on other sites More sharing options...
Redwards Posted February 28, 2023 Share Posted February 28, 2023 1 hour ago, Skinsinparadise said: The Penguin? Nah. Cobblepot was one smart cookie. Dan's several rungs below on the villain scale. Crazy Quilt? Maybe Condiment King? 1 hour ago, KDawg said: Which is when a rabid dog is most dangerous. Only when they have a firm foundation on which to stand. Dan hasn't got that. 🙂 2 Link to comment Share on other sites More sharing options...
Ghost of Posted February 28, 2023 Share Posted February 28, 2023 Federal prison for financial crimes is called Club Fed for a reason. Office Space nails a lot of things but not that one. I've never been but I have had a family member go. Much preferable to state pen. Link to comment Share on other sites More sharing options...
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