Mod Notice: Temp Ban if Post on Changing the Name. Per New York Times: Dan Syder Agrees to Sell Washingon Commaders for $6B

[SoCalSkins]

20 minutes ago, RVAskins said:

Put me down for .0001%

 

That's still $600 grand!

[Voice_of_Reason]

3 hours ago, MartinC said:

The 1st Duke of Wellington was not of the royal family. He was Arthur Wellesley who was the British general who defeated Napoleons French armies in Spain and Portugal and then finally Napoleon himself at Waterloo.

 

He was made a Duke for his military service and the title passes down. But being of that family does not make someone a ‘royal’. To be considered part of the royal family you need to be an immediate relative in some way of the reigning monarch. All other titles are considered part of the ‘nobility’.

Thank you for listening to my TED talk. 

Why do you know this or why did you bother looking it up?

[Wildbunny]

3 hours ago, MartinC said:

The 1st Duke of Wellington was not of the royal family. He was Arthur Wellesley who was the British general who defeated Napoleons French armies in Spain and Portugal and then finally Napoleon himself at Waterloo.

 

He was made a Duke for his military service and the title passes down. But being of that family does not make someone a ‘royal’. To be considered part of the royal family you need to be an immediate relative in some way of the reigning monarch. All other titles are considered part of the ‘nobility’.

Thank you for listening to my TED talk. 

That's fake news and pure British propaganda.

Napoleon never lost Spain, Portugal or Waterloo...

[Voice_of_Reason]

4 minutes ago, SoCalSkins said:

 

That's still $600 grand!

No, it’s actually 6,000.  
 

You need to add 2 more 0’s  to make the .001 into a percent.

 

And yeah, to confirm, I did it in excel:

 

[MartinC]

11 minutes ago, Voice_of_Reason said:

Why do you know this or why did you bother looking it up?

History is my ‘thing’ - along with sports.  Has been for years, I read a lot and it’s mainly history and especially military history.

[SoCalSkins]

7 minutes ago, Voice_of_Reason said:

No, it’s actually 6,000.  
 

You need to add 2 more 0’s  to make the .001 into a percent.

 

And yeah, to confirm, I did it in excel:

 

 

I was doing it in my head messed up a zero! thanks!

 

No my math was right I messed up the percentage sign. Good catch

Edited May 5, 2023 by SoCalSkins

[MartinC]

6 minutes ago, Wildbunny said:

That's fake news and pure British propaganda.

Napoleon never lost Spain, Portugal or Waterloo...

There is at least one train station in London that would disagree 🙂

[Voice_of_Reason]

4 minutes ago, SoCalSkins said:

 

I was doing it in my head messed up a zero! thanks!

 

No my math was right I messed up the percentage sign. Good catch

There’s no way I could do it in my head.  That’s way too many zeros in both directions….

 

The computer does these things better.

[NewCliche21]

Thanks for the infor @Voice_of_Reason and others! I don't know **** about **** when it comes to these things. Definitely not my area.

[boston skins fan]

question for you business minded people.  Is it possible to sturcture the deal so Harris puts up all the money for the franchise and the "Partners" money is used for the stadium.  In other words the partners get shares for free for now on the basis that they have to put money in for the stadium.

[88Comrade2000]

4 minutes ago, boston skins fan said:

question for you business minded people.  Is it possible to sturcture the deal so Harris puts up all the money for the franchise and the "Partners" money is used for the stadium.  In other words the partners get shares for free for now on the basis that they have to put money in for the stadium.

The fans thru seat licenses and the local  taxpayers will probably foot a good chunk of the bill; before the investors pony up a dime.

[Riggo#44]

1 hour ago, SoCalSkins said:

 

That's still $600 grand!

 

Its about $6,050

1 hour ago, Voice_of_Reason said:

No, it’s actually 6,000.  
 

You need to add 2 more 0’s  to make the .001 into a percent.

 

And yeah, to confirm, I did it in excel:

Nerd.

 

Typing "what is .0001% of 6.05 billion" into Google is way faster.

 

Edit: finishing my thoughts today is apparently very difficult as well.

Edited May 5, 2023 by Riggo#44

[Voice_of_Reason]

1 minute ago, Riggo#44 said:

Nerd.

 

Typing "what is .0001% of 6.05 billion" is way faster.

I’m not a nerd.  I am a geek.  Get it right.  
 

There is nothing wrong with being a nerd.  But I posses no qualities of a nerd. I possess all the qualities of being a geek, however.  

[boston skins fan]

2 minutes ago, Voice_of_Reason said:

I’m not a nerd.  I am a geek.  Get it right.  
 

There is nothing wrong with being a nerd.  But I posses no qualities of a nerd. I possess all the qualities of being a geek, however.  

 

What happens if you possess both like me?  a hopeless cause?

[Riggo#44]

10 minutes ago, Voice_of_Reason said:

I’m not a nerd.  I am a geek.  Get it right.  
 

There is nothing wrong with being a nerd.  But I posses no qualities of a nerd. I possess all the qualities of being a geek, however.  

My daughter asked me this morning: "Do you have to be weird all the time?"

 

As a weirdo, yes, yes I do. And I reminded her about genetics and that she's part weirdo too!

[MartinC]

1 hour ago, boston skins fan said:

question for you business minded people.  Is it possible to sturcture the deal so Harris puts up all the money for the franchise and the "Partners" money is used for the stadium.  In other words the partners get shares for free for now on the basis that they have to put money in for the stadium.

You can structure deals lots of different ways. But I doubt it would be structured as ‘shares for free’ and there is probably no costed structure at this point for how the stadium financing would/could work. 
 

But making sure there is the operating capital to accommodate the stadium project is probably part of why the ownership group is expanding. That and being part of an NFL ownership structure is a pretty attractive investment opportunity if you happen to have that kind of cash lying around gathering dust …

[mistertim]

1 hour ago, boston skins fan said:

question for you business minded people.  Is it possible to sturcture the deal so Harris puts up all the money for the franchise and the "Partners" money is used for the stadium.  In other words the partners get shares for free for now on the basis that they have to put money in for the stadium.

 

As long as it's not illegal you can put pretty much whatever you want into the structure of a deal like this. Money in, ownership shares, types of shares, board seats, voting rights, etc. So sure, a good lawyer could probably put something like that into the terms of the deal.

 

But it could be pretty risky, because you'd be giving up shares for nothing but a promise of money in the future instead of up front, so you'd have to make sure it's something that's very much legally binding. Some things would probably be way more legally binding than others if it ever went south and you had to go to arbitration or court.

 

You'd also have to do extra due diligence to make sure that the person you're bringing in actually has the means to pay what they say they will and there are no red flags in their business history (aka defaulting on loans, etc).

[RVAskins]

2 hours ago, SoCalSkins said:

 

That's still $600 grand!

Trust me, I double checked. I can do the 6K but that's my limit. 😀

[Riggo-toni]

4 hours ago, MartinC said:

There is at least one train station in London that would disagree 🙂

 

[Voice_of_Reason]

3 hours ago, boston skins fan said:

 

What happens if you possess both like me?  a hopeless cause?

[actorguy1]

 

MAY 05, 2023 • 02:42 PM

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Josh Harris already cleared the largest hurdle in his takeover of the Washington Commanders: He pulled together a $6.05 billion bid with the help of a dozen-plus limited partners. 

The next step — especially for someone who already co-owns the Philadelphia 76ers and New Jersey Devils — is actually running the team when the purchase is approved in the coming weeks. 

“Out of all the leagues, the NFL is easier to step into because it’s literally impossible to f–k it badly enough to lose money,” a former sports executive told Front Office Sports. “But there are plenty of reasons why somebody may not succeed as owner.”

 

A look at the early reign of current Commanders owner Dan Snyder is a roadmap of what not to do as a new NFL owner. 

• Almost immediately after his $800 million purchase was approved in 1999, Snyder forced out respected longtime GM Charley Casserly.
• Over the next 18 months, he fired head coach Norv Turner, installed Jeff George as QB, tossed millions at an aging Deion Sanders, and moved training camp to the team’s Northern Virginia headquarters — where he charged fans both a parking and entry fee. 
• Owners were resistant to cold-weather Washington hosting the 2006 Super Bowl in an open-air stadium, but sources told FOS the bigger factor was Snyder’s forceful approach. 
• In 2001, Snyder secured approval from Prince George’s County to ban pedestrians from accessing FedEx Field from outside parking lots that he didn’t own, which led to a class-action lawsuit and repeal in 2004. 

Sources close to Harris said he won’t institute significant changes upon the bid’s approval, which could come as early as later this month. 

GM Martin Mayhew, president Jason Wright, and head coach Ron Rivera aren’t likely to be replaced with training camp starting in late July and the roster is all but set. 

“They’re going to want to feel things out and get an assessment of things,” one source said.

Rule of Three

Harris partnered with fellow private equity billionaire David Blitzer to purchase the 76ers in 2011 for $280 million and Devils in 2013 for $320 million. The days, weeks, and months after each acquisition had a lot in common. 

 

With the 76ers, Harris and Blitzer retained team president Rod Thorn (and made him GM) and head coach Doug Collins for multiple seasons. Longtime 76ers exec Tony DiLeo took over the role of GM ahead of the 2012-13 season. 

After that season, Harris oversaw a major transition for the 76ers, perhaps influenced by his affinity for analytics developed when he built a fortune in private equity. 

Harris installed Sam Hinkie as president. As the Houston Rockets’ executive VP of basketball operations, HInkie was one of the NBA’s earliest analytics innovators — but what followed wasn’t pretty. 

 

As the possible originator of Philly’s infamous “Trust the Process” mantra, Hinkie presided over a three-season run where the 76res won a total of 47 games that generated top draft picks, including Joel Embiid, this season’s MVP.

Now Hinkie’s gone, and the 76ers have made the playoffs six seasons in a row. 

Harris and Blitzer used the same approach with the Devils. Team President Lou Lamoriello was left in charge for two years after the changeover — at which point the changes and losing seasons piled up. 

 

The Devils’ current run is only the team’s second in Harris’ decade as owner, but the excitement hasn’t been this high since the team’s Stanley Cup Final run fell short in 2012. 

“We’re seeing the fruits of the labor right now with these two playoff runs,” a league executive said. 

The Commanders have made the playoffs six times in Snyder’s 24 seasons as owner. Before the details of the toxic workplace under Snyder became public and the investigations ramped up, it was the losing — and higher prices — that drew the fans’ ire. 

Style Points

Snyder hasn’t done an on-camera interview since 2014, when he was still clinging to that “R” name the team once had. His full-time residence has been in London for a while, and he was in the Mediterranean near his yacht during a Congressional hearing last June.

 

Harris isn’t quite the recluse Snyder has been, but he also isn’t Jerry Jones, so it’s unlikely he’ll follow the front-and-center approach Steve Ballmer took in 2014 when he purchased the Los Angeles Clippers after the NBA exiled Donald Sterling.

“I do think that is one thing that helped,” a former NBA executive said. “You had a guy who was out there and was basically saying, ‘You can be a Clipper fan now. That guy is gone.’ That was important. If [the new Commanders ownership] doesn’t have that, it’s going to be hard to constantly remind people, ‘This is a new day.’”

And since we’re talking about a team near the nation’s capital, that means more than just interviews with sports reporters. The fact that Harris’ group will have more than a dozen limited partners, there will be options for outreach beyond Harris. 

 

Industrial firm co-founder Mitchell Rales, former NBA great Magic Johnson, security firm exec Mark Ein, Colombian-American beer heir Alejandro Santo Domingo and rental property firm founder Mitchell Morgan are the limited partners FOS has been able to confirm so far.

“Since this is D.C., you’re really going to need to do a round of media, both sports and political media,” a banker told FOS. “Then you’re going to have to do the rounds with politicians, especially in the District, Maryland, and Virginia.”

Harris is no doubt hoping one or more those three jurisdictions will be open to subsidizing a new stadium. But until it’s built, the Commanders — who will have the same name, players, and coaching staff — will have to build enthusiasm at their current home in Landover, Maryland. 

 

Harris’ best attribute is that he’s not Dan Snyder. That will help on the business side, especially. 

“Everything should dramatically improve,” the banker said. “They’re busy trying to close the deal, so I don’t think they’ve focused at all yet on how taxing this is going to be for them as owners. You are going to try to right all the wrongs as you prepare for a new stadium. That’s a lot to have on the table.”

[RVAskins]

2 hours ago, Riggo-toni said:

 

[DCSaints_fan]

15 hours ago, MartinC said:

The 1st Duke of Wellington was not of the royal family. He was Arthur Wellesley who was the British general who defeated Napoleons French armies in Spain and Portugal and then finally Napoleon himself at Waterloo.

 

He was made a Duke for his military service and the title passes down. But being of that family does not make someone a ‘royal’. To be considered part of the royal family you need to be an immediate relative in some way of the reigning monarch. All other titles are considered part of the ‘nobility’.

Thank you for listening to my TED talk. 

So its only immediate family?  I thought also that they basically get to decide who counts.  So Harry and Meghan aren't "royals" anymore.  Similar to Edward VIII.  But assuming they don't do this, and also speaking only of the paternal line, at what point does "legitimate issue" of the younger sons cease being "royal"?

 

I understand that back in the middle ages France did some pretty crazy stuff, finding a male heir in a distant cousin, to prevent the King of England from inheriting the throne, which kicked off the 100 years war ...

[FrFan]

1 hour ago, DCSaints_fan said:

So its only immediate family?  I thought also that they basically get to decide who counts.  So Harry and Meghan aren't "royals" anymore.  Similar to Edward VIII.  But assuming they don't do this, and also speaking only of the paternal line, at what point does "legitimate issue" of the younger sons cease being "royal"?

 

I understand that back in the middle ages France did some pretty crazy stuff, finding a male heir in a distant cousin, to prevent the King of England from inheriting the throne, which kicked off the 100 years war ...

It took us a 100 years to kick out the English out of the country, nevertheless they keep on coming back every summer !

[MartinC]

5 hours ago, FrFan said:

It took us a 100 years to kick out the English out of the country, nevertheless they keep on coming back every summer !

Some of us live among you. Just biding our time …