6 Billion dollars!

Dan Snyder just sold the Washington team for 6 billion dollars. Geeze.

https://www.foxnews.com/sports/dan-snyder-reaches-deal-sell-commanders-billions-report

 

And just like that the Washington Redskins, er WFT, er Washington Commanders, er Washington Politicians may be relevant again. Scratch the last one. Way too corrupt even by NFL standards.

 

The new owner of the Commanders also owns part of the Steelers? (Not sure on what Passive Partners means)

Josh Harris, 58, built his wealth as co-founder of investment firm Apollo Global Management. With business partner David S. Blitzer(Harris Blitzer Sports & Entertainment), They are owners of the Philadelphia 76ers(NBA), the New Jersey Devils(NHL), Crystal Palace FC(Premier League) as well as passive partners in the Pittsburgh Steelers.
https://www.hogshaven.com/2023/4/13...eement-in-place-buy-the-team-for-6-05-billion

 

I guess the Rooney owners tree makes up for the Tomlin coaching tree. Tull, Haslem, and now Harris.

 

Basically, they have no say in team matters. They can try to impress people by saying they own an nfl franchise

 

So they are Owners; I don't know if someone would be allowed to own multiple teams.


Didn't this already happen to a minority owner of the Steelers that ended up buying another NFL team? And why am I thinking that was for an expansion team?

 

I think it was Haslam that was a minority owner and sold his share to buy the browns. Or maybe he bought the panthers.

/edit

tepper was a Steelers minority owner and had to sell his share when he bought the panthers. Sounds like this guy will have to sell his share of the Steelers upon sealing the deal for the redskins

 

Man you were so close!

 

Thank you that was driving me crazy... Carolina Panthers

 

save it, you can probably get their minority share in the Steelers for a dime, then use the extra cash to slurge on tail gating.

 

Cheapskate.

 

I would really love to see how they actually built this wealth. I don't know for a fact, but I would bet they never knew what it was like to be anything other.

 

I remember when Haslam had to sell his stake in the steelers to purchase the Browns. Would expect Harris to have to do the same as part of owning the Washington whatever the f*** they are.

 

Interesting nugget here.

 

Yep.

Part of the NFL Ownership rule I believe.


I personally wish this Josh Harris Group the best. For all of the misery, torment and agony that Franchise has gone through, here is hoping that better days lie ahead; both on the field and the treatment for the staff.

 

We have recently talked about team values in different threads. The Broncos sold for 5.35 or so, now DC for 6 Billion. The Steelers were something like 4 billion on that list, The Broncs and even DC has history (though Snyder did his best to tear that down), the market may be smaller but as an NFL franchise the Steelers have national and even global recognition. Their value has to skyrocket.

 

Though I think more entertaining to read how the early team owners made their money

https://en.wikipedia.org/wiki/History_of_the_Pittsburgh_Steelers

The 1930s: The Pirates years
In the early years of the franchise, the Pirates were not Rooney's only (or even his primary) focus. Even the office off the lobby of the Fort Pitt Hotel from which he ran the team was shared with the Rooney-McGinley Boxing Club, which promoted fights.[12][13] He also spent a good amount of his time and energy handicapping and placing bets on horse racing, a lifelong hobby. Rooney once won an estimated $250,000 to $300,000 ($5.1 to $6.1 million today) in a single 1936 day of betting.[14] It actually was highly likely that the purchase of the Pittsburgh Steelers was made with horse race gambling winnings. However, this is becoming a de-emphasized part of the team's history, with the NFL trying to clear their name of such shady early beginnings.[15]

http://thesteelersfans.com/forums/threads/6-billion-dollars.30575/

In 1936, Rooney won a parlay at Saratoga Race Course, which netted him about $160,000. He placed the bet based on a tip from New York Giants owner Tim Mara, a bookmaker.[6] He used the winnings to hire a coach, Joe Bach, give contracts to his players and almost win a championship.

 

This is all interesting stuff.

 

What's hypothetically very interesting is what would have happened had he lost that bet. None of us probably would even be communicating as football fans.

 

I did learn that there is a case for not allowing an Owner to also own the Stadium. Snyder allowed his stadium to be run down for years because he didn't want to pay for renovations, where if he did not own the stadium, the city would have been allowed to make renovations to keep the stadium up to NFL Standards.

I know the NFL has a Salary Cap floor that owners must pay, but is there anything about stadium conditions? I think I remember when Philidelphia got in trouble with its turf conditions, and the NFL had to step in and threaten to move games if the turf problem was not addressed. I don't know if the NFL could step in and threaten to move games for general stadium conditions.

 

Nothing regarding Stadium Conditions I am afraid. The NFLPA report does indeed shed light on which Stadiums and Owners are among the best and/or worst but much of the validity of those findings is very skewed towards newer stadiums and/or Owners with severely deep pockets. Heinz Field before becoming Acrisure Stadium is a generation old. I imagine there is going to be at least some atrophy within the infrastructure of the stadium. I do believe that AR 2 could stand to go for improvements. That said however, building a new stadium?!


.... anyone on here have at least $660 Million to $800 Million to pull that off?! Anyone?

 

Passive partner: gives us your money STFU

Hey Brice they will have to sell their Steelers share if you are interested just an FYI

 

You do realize that DC area has 7million people as their potential customers compared to PGH 2.5 million people.

 

I do agree with this. Washington was valued at around 5.5B beforehand, so I can see the Steelers value jumping to at least 4.3B to about 4.5B. Which means, it probably would sell for 5B considering some bidding war taking place.