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

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Warhead36

Warhead36

Posted
Posted
16 minutes ago, FootballZombie said:

We got a year's work of suite sells in a week and still had the lowest local revenue in the NFL...

 

Yeah, new ownership is certainly gonna need to prime the till if they want some actual business success.

I'm guessing suite sales for the 2023 season go into the 2023 revenue books, not 2022.

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zCommander

zCommander

Posted
Posted
21 minutes ago, Warhead36 said:

I'm guessing suite sales for the 2023 season go into the 2023 revenue books, not 2022.

 

It really depends on what month they start their fiscal year on. If it is, let's say, May 1st, 2023 then anything before that would be under 2022. 

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Skinsinparadise

Skinsinparadise

Posted
Posted

The NFL is engaged in discussions with representatives of Washington Commanders owner Daniel Snyder, and it appears increasingly likely the next step in approving Snyder’s pending sale of the Commanders to Josh Harris will be a conditional approval that is atypical in such transactions, three people with direct knowledge of the NFL’s inner workings and the sale process said. Such a step could come as soon as later this month.

 
 

Final ratification of Harris’s tentative $6.05 billion deal to purchase the Commanders would be contingent upon several issues being resolved, according to those people, who spoke on the condition of anonymity because of the confidentiality of the sale and approval process. They cautioned that the timing of a ratification process arriving in such stages is fluid and depends largely on the progress of the discussions with Snyder’s representatives.

Nonetheless, such conditional approval would represent a significant step toward Harris taking control of the team and Snyder exiting the NFL. The owners are scheduled to meet May 22 and 23 in Minneapolis.

 

Under NFL rules, any sale must be approved by at least 24 of the 32 team owners.

 

The NFL, the Commanders and Harris’s group declined to comment Tuesday.

The people familiar with the NFL’s inner workings called the process that the league is following in potentially ratifying Harris’s deal unusual. The deviations from the league’s normal procedures are being necessitated by the unique circumstances surrounding Snyder and the Commanders, they said.

Usually, once an owner announces an agreement to sell a franchise, the deal is vetted by the owners on the NFL finance committee, which makes a recommendation to the 32 owners, and a final ratification vote is taken. No preliminary approval is given. When a group led by Walmart heir Rob Walton purchased the Denver Broncos last year from the Pat Bowlen Trust for $4.65 billion, the process took about two months. In that case, the deal was struck and announced in June, and the NFL called a special owners meeting in August in Minneapolis for the sale to be approved.

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MartinC

MartinC

Posted
Posted
8 minutes ago, zCommander said:

 

It really depends on what month they start their fiscal year on. If it is, let's say, May 1st, 2023 then anything before that would be under 2022. 

 
From a revenue perspective typically that revenue can’t be recognized until the service is delivered, which would be when the seat ticket or suite is used not when it’s bought.

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goskins10

goskins10

Posted
Posted

 

“The sale of the Commanders may veer from the traditional ratification process. This one may be approved in stages.”

 

Of course.  Why should anything about Dans ownership be normal!!   Can’t wait till it’s over. 

 

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FootballZombie

FootballZombie

Posted
Posted
6 minutes ago, MartinC said:

From a revenue perspective typically that revenue can’t be recognized until the service is delivered, which would be when the seat ticket or suite is used not when it’s bought.

 

Interesting. That's not how I operate.

All income factored into my business revenue, time of delivery be danged. I also have long spanning contracts where we would require a % of payment up front.

 

I suppose different business can operate differently tho.

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zCommander

zCommander

Posted
Posted (edited)
31 minutes ago, MartinC said:

 
From a revenue perspective typically that revenue can’t be recognized until the service is delivered, which would be when the seat ticket or suite is used not when it’s bought.

 

True if that is how they keep their books. But not all business do it that way. I know I don't. An invoice goes out and if it is paid the month after the fiscal year is over than that payment will go into the new year. But I would imagine with tickets you have to pay it right away and not when you use it. Also keep in mind you don't have to use it even if you bought it. 

 

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SoCalSkins

SoCalSkins

Posted
Posted
28 minutes ago, MartinC said:

 
From a revenue perspective typically that revenue can’t be recognized until the service is delivered, which would be when the seat ticket or suite is used not when it’s bought.


Typically a suite is sold on a per year basis with the contract spanning one to many years and it usually includes all events at the the stadium  including concerts. The company I work for has a suite at staples center/cryto.com arena and that’s how it’s priced. My company pays a lump sum once a year.  I would be surprised if FedEx was priced differently. I would assume they would recognize revenue when they collect the money. 

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MartinC

MartinC

Posted
Posted
22 minutes ago, FootballZombie said:

 

Interesting. That's not how I operate.

All income factored into my business revenue, time of delivery be danged. I also have long spanning contracts where we would require a % of payment up front.

 

I suppose different business can operate differently tho.


Depends on what you sell/offer I guess. If it’s a physical good or a service being delivered it’s pretty straight forward - you recognize as the revenue is booked. If it’s someone paying in advance though for a service to be delivered in the future then I’ve always seen the revenue recognized when that service is actually delivered. But I’m not an accountant and I’m sure there are various ways you could do this.
 

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bird_1972

bird_1972

Posted
Posted
Just now, 88Comrade2000 said:

We are owned by Dan Snyder. You think getting rid him would be easy?

 

Dan could still **** this up.

 

What concerns me about this is that there are some things the "owners need to resolve with Snyder" in order to move the sale forward. What on earth could that be?

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kingdaddy

kingdaddy

Posted
Posted
55 minutes ago, redskinss said:

From first and goal to, it's tentative and it could possibly and it'll be in stages.

Die already you ****in curse from hell!!!!!!!!!

Sounds like we may need to kick the field goal and then go for the on-sides kick?

15 minutes ago, bird_1972 said:

 

What concerns me about this is that there are some things the "owners need to resolve with Snyder" in order to move the sale forward. What on earth could that be?

Bar and stripper bills he owes each other owner?

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zCommander

zCommander

Posted
Posted
47 minutes ago, bird_1972 said:

 

What concerns me about this is that there are some things the "owners need to resolve with Snyder" in order to move the sale forward. What on earth could that be?

 

24 years of incompetency. 

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MartinC

MartinC

Posted
Posted
27 minutes ago, RVAskins said:

Doesn't Danny have two sets of books?

 
Neither of which have yet been colored in.

1 hour ago, bird_1972 said:

 

What concerns me about this is that there are some things the "owners need to resolve with Snyder" in order to move the sale forward. What on earth could that be?


Snyder asking for indemnification?

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