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
Famous quotes containing the words washington, football, team and/or ownership:
“You men have proved that PT boats have some value in this war. Washington wants you back in the States to build them up. Those are my orders.”
—Frank W. Wead (1895?–1947)
“... in the minds of search committees there is the lingering question: Can she manage the football coach?”
—Donna E. Shalala (b. 1941)
“They’re two good old friends of mine. I call them Constitution and The Bill of Rights. A most dependable team for long journeys. Then I’ve got another one called Missouri Compromise. And a Supreme Court—a fine, dignified horse, though you have to push him on every now and then.”
—Dan Totheroh (1895–1976)
“They had their fortunes to make, everything to gain and nothing to lose. They were schooled in and anxious for debates; forcible in argument; reckless and brilliant. For them it was but a short and natural step from swaying juries in courtroom battles over the ownership of land to swaying constituents in contests for office. For the lawyer, oratory was the escalator that could lift a political candidate to higher ground.”
—Federal Writers’ Project Of The Wor, U.S. public relief program (1935-1943)