Washington Redskins Football Team Ownership
In May 1999, Snyder purchased the Redskins and Jack Kent Cooke Stadium (now FedExField) for $800 million following the death of previous owner Jack Kent Cooke. At the time, it was the most expensive transaction in sporting history. The deal was financed largely through borrowed money, including $340 million borrowed from Société Générale and $155 million debt assumed on the stadium. Annual loan servicing costs are an estimated $50 million.
Snyder owned expansion rights to an Arena Football League team for the Washington, D.C. market before the 2009 demise of the original league.
Read more about this topic: Daniel Snyder
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