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Koolblue13

By Koolblue13
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redskinss

redskinss

Posted
Posted
4 minutes ago, spjunkies said:

 

I wouldn't be upset, but I'm far from loving the prospects of him winning the ownership. 

I'm more on the bezos side myself but certainly not because I think harris is willing to spend 6 billion dollars on a pacifier for his sixers fans.

 

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Commander PK

Commander PK

Posted
Posted

Also, I think everybody needs to relax.  I think it’s very clear the sale is a definite, and we probably find out this week sometime who has bought the team.  I’m not believing anything at this point until Keim or somebody else at his level reports it’s done.  

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RVAskins

RVAskins

Posted
Posted
1 hour ago, tomwvr said:

Im worried about cash on hand to do stuff with harris. If he is worth 6b and has to pay 2b to pay for part of the team and borrow the rest he will have a cash flow issue 

I don't think this would be an issue. There aren't any other owners with Bezos type money yet most of them seem to be doing quite well. It was reported that Snyder was the only owner drawing a 10 million dollar salary. He personally drove the franchise into the ground and created his own financial problems.

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Andre The Giant

Andre The Giant

Posted
Posted

Although I may have a preference on the next owner, I ultimately have no idea who will be effective or not.  Truth be told, I was excited when Snyder bought the team (obviously incorrect).  I’ll support whomever the next group is wholeheartedly. 
 

Only thing I know for certain is that Snyder is a terrible owner.  I can’t wait for this process to reach its conclusion.

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spjunkies

spjunkies

Posted
Posted
1 minute ago, Riggo#44 said:

Genuine curiousity why not?

 

It comes down to finances for me.

 

Based off of everything we know about Mr. Harris it seems extremely unlikely that he can pull off buying the team, building a new stadium and practice facility and fielding a competitive team. 

 

If he gets the team I'll certainly hope and pray that he can prove me wrong I just can't see it right now. 

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Chris 44

Chris 44

Posted
Posted
38 minutes ago, Skinsinparadise said:

 

 

As you know he owns the Devils, too.   He's managed.   Keeping Commander fans happy would have to be hot on his to do list.  It's a big investment, much bigger than what he paid for the 76ers.

 

Considering he's from the area and grew up a fan, I am not even a little worried about cross loyalties. 

 

Rale's money is in the mix, too.  He doesn't call the shots but I presume he will have some influence.  Also a local who grew up a Redskins fan. 

I didnt realize this but he is also part owner of Crystal Palace of the PL. Dude has his ties to a number of sports franchises. I think he has plenty of experience and knows exactly what he is getting into. God knows he has his hands full with Palace right now.

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SoCalSkins

SoCalSkins

Posted
Posted
6 minutes ago, Chris 44 said:

I didnt realize this but he is also part owner of Crystal Palace of the PL. Dude has his ties to a number of sports franchises. I think he has plenty of experience and knows exactly what he is getting into. God knows he has his hands full with Palace right now.


Maybe he can lure Ted Lasso away from AFC Richmond to take over? 

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bearrock

bearrock

Posted
Posted (edited)
35 minutes ago, SoCalSkins said:


It might not be his intention but once the financials are laid out and he has competing priorities he will have to make business decisions given his liquidity issues.

 

He owns about 6% of Apollo (one of the largest asset management firms in the world) and is one of managing partners.  What liquidity issue are we talking about?

 

Quote

If he doesn’t get public funding which is very unlikely in the DMV he will have to finance the stadium and that financing will over leverage him and require waivers from the NFL. Snyder fell into the same cycle eventually.
 

 

I guess you missed last year when VA discussed public support for the new stadium before the Congressional investigation broke.

 

Quote

Harris on the other hand has conflicting priorities with his NBA and NHL teams. there might be an initial honeymoon period but long term dude might end up worse than Dan because of the financials. There is a valid reason the NFL would have prevented this type of sale in the past. 
 

 

It is nearly impossible for both Harris and Rales, two incredibly successful and wealthy businessmen to end up in a worse financial state than Dan Snyder, who had turned everything he touched into trash and is now siphoning money from the team.

 

There's also a valid reason that NFL no longer prevents these type of deals now.  Kroenke has proved it.  Hell, Harris himself has proved it.  Owning teams in different markets do not cause an owner to choose one franchise to succeed over another.  We do not have a single example that supports that.

 

Quote

A Stan Kroenke who owns multiple teams is a completely different story. That dude has legitimate resources both personally and through his wife.

 

Harris comes with too much risk because he is not rich enough to play at this level. It’s as simple as that.

 

Both Harris and Rales has plenty of legitimate resources outside of sports.  In fact, outside of the Walton Group and Tepper (if Steven Rales doesn't join), Harris/Rales would instantly become the richest owners in the NFL.  This notion is ridiculous and a total joke.  Jeff Lurie is "only" worth about 4.5 bil.  How are the Eagles doing?

Edited by bearrock
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SoCalSkins

SoCalSkins

Posted
Posted
2 minutes ago, bearrock said:

 

He owns about 6% of Apollo (one of the largest asset management firms in the world) and is one of managing partners.  What liquidity issue are we talking about?

 

 

I guess you missed last year when VA discussing public support for the new stadium before the Congressional investigation broke.

 

 

It is near impossible for both Harris and Rales, two incredibly successful and wealth businessmen to end up in a worse financial state than Dan Snyder, who had turned everything he touched into trash and is now siphoning money from the team.

 

There's also a valid reason that NFL no longer prevents these type of deals now.  Kroenke has proved it.  Hell, Harris himself has proved it.  Owning teams in different markets do not cause an owner to choose one franchise to succeed over another.  We do not have a single example that supports that.

 

 

Both Harris and Rales has plenty of legitimate resources outside of sports.  In fact, outside of the Walton Group and Tepper (if Steven Rales doesn't join), Harris/Rales would instantly become the richest owners in the NFL.  This notion is ridiculous and a total joke.  Jeff Lurie is "only" worth about 4.5 bil.  How are the Eagles doing?


Harrris will need to put up 2 billion hard cash to complete the purchase barring a waiver from the NFL. He’s not going to get much if any public financing for the stadium. So he will need further waivers and debt at a time of increasing interest rates. He is spread too thin and has too many ventures for relatively limited resources. 
 

Jeff Lurie bought the eagles for $185 million.  If Harris was playing the game with those economic conditions non issue. 
 

The economics of NFL ownership have completely changed. Harris is not a slam dunk given his financials. 

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Skinsinparadise

Skinsinparadise

Posted
Posted (edited)
14 minutes ago, bearrock said:

 

 

Both Harris and Rales has plenty of legitimate resources outside of sports.  In fact, outside of the Walton Group and Tepper (if Steven Rales doesn't join), Harris/Rales would instantly become the richest owners in the NFL.  This notion is ridiculous and a total joke.  Jeff Lurie is "only" worth about 4.5 bil.  How are the Eagles doing?

 

It's a good point.  There are three factors that make Dan's financial situation somewhat unique.

 

A.    Not only has he failed in just about every outside business endeavor once he bought this team, he's lost on some tens of millions of dollars on some of them

 

B.  The team's cash flow profits (outside of the NFL pool of money) continues to dwindle.  I believe its at the bottom of the league or close to it.  That issue has come up in the context of the sale which is this team's revenue generating is subpar and continues to get worse

 

C. Unlike some other owners, Dan needs this team to sustain himself financially since he doesn't have much as to other revenue streams elsewhere.  It was said for example recently, Dan is unique in that he paid himself a salary -  a big one -- and recently gave himself a big raise.  Where else is he going to take money from to support his lifestyle?  Maybe if he killed it with 6 Flags, Johnny Rockets, 980, Dick Clark Productions, etc.  But it didn't go like that for him.

 

As for Harris owning other teams, its not all a bad thing.  This owners make money off of these sports investments.  Even Dan thanks to revenue sharing.    And as you pointed out he has outside revenue streams in addition to that. 

Edited by Skinsinparadise
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redskinss

redskinss

Posted
Posted
6 minutes ago, SoCalSkins said:

Jeff Lurie bought the eagles for $185 million.  If Harris was playing the game with those economic conditions non issue.

He was also born in Boston, raised a huge fan of all Boston sports, family had season tickets to the patriots since 1960 the first year the patriots existed.

 

Surprised he didn't tell pederson to throw the superbowl with that conflict of interest.

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SoCalSkins

SoCalSkins

Posted
Posted
3 minutes ago, kingdaddy said:

Maybe that's why he's partnering up with the other guy? 


There is a hard 30% cash requirement from the lead owner. It’s a house of financial cards and he has has multiple teams in other leagues. It’s like strippers buying multiple investment properties in Florida in 2006. It can all come crashing down fast. 

Just now, redskinss said:

He was also born in Boston, raised a huge fan of all Boston sports, family had season tickets to the patriots since 1960 the first year the patriots existed.

 

Surprised he didn't tell pederson to throw the superbowl with that conflict of interest.


It’s not a personal conflict of interest. It’s a business one. 

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VaK9Trainer

VaK9Trainer

Posted
Posted
1 hour ago, 88Comrade2000 said:

You aren’t spending $6 Billion just to

keep the team a loser, so as to not piss off fans of the team you own in another city. That’s the most asinine thing ever.

 

 

The concern about Harris/Rales is after purchasing the team, how much money will they have left?  This team needs an upgrade in facilities for the short term and then needs a new long term facility.  Do they have money to do that and will they be able to get someone to pony up for a new stadium? Will they have the cash flow to sign players?   That’s the concern, they are spending all their available money to get the team.

 

From what I've read, they have close to $12 billion combined. That's enough money to do all of those things that you mentioned and then some. 

 

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redskinss

redskinss

Posted
Posted
7 minutes ago, SoCalSkins said:

It’s not a personal conflict of interest. It’s a business one.

How do you know which one is more important to him?

If I bought the cowboys I'd seriously consider losing two games a year intentionally. 

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NewCliche21

NewCliche21

Posted
Posted

So our team is really good at losing no matter how good or inevitable the result looks.

And now, for what I'm seeing as *checks notes* no reason, we're talking ourselves out of thinking that a sale is happening because we know more about billion-dollar business acquisitions than the people who literally do it for a living and the people who have billions.

The trauma here, man.  For real, this is some clinical-level stuff right here.  Thanks, Dan.

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CapsSkins

CapsSkins

Posted
Posted
50 minutes ago, Springfield said:

My only concern with Harris is that the NJ Devils have been a pretty abysmal hockey team under his ownership. That’s not enough for me to think Snyder is any better or that Bezos is even necessarily better. I certainly think, I’d be buys the team, that we will be in a much better position than we were since JKC owned the team. I’ll be happy.

 

? Devils are currently 2nd in the Metro and could still win the division. They have two great, young centermen in Jack Hughes and Nico Hischier, are aggressive in how they just traded for Timo Meier, and have seemingly turned the corner in their rebuild. 

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