Despite $60,000,000 fine, disgraced ex-Commanders owner Dan Snyder makes stunning profit
As Dan Snyder would agree, owning an NFL franchise is one of the best investments money can buy.
Despite controversies following the Washington Commanders owner over the duration of his tenure, Snyder made a killing this week as the sale of his franchise became official.
The Commanders (known as the Redskins at the time) were purchased for just shy of a billion dollars at $800 million in May 1999. Since then, despite failing to reach a single Super Bowl or NFC Championship appearance, the franchise has skyrocketed in value.
This last week, the sale became official at the price of $6.05 billion.
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Meaning, the value of the franchise more than sextupled since the dawn of the 21st century.
In total, Snyder made $5.25 billion from the transaction. It is the most expensive NFL team purchase in history. The purchase serves as a full circle moment from 1999, as the purchase of the Redskins was the most expensive team acquisition in U.S. sports history at the time.
Of course, there is still one big fee many are lumping in with the final transaction.
The NFL is fining Snyder $60 million as a result of Mary Jo White's investigation into a series of offenses.
White ruled against the former owner over both the Tiffani Johnston sexual harassment case and Jason Friedman's allegation of intentional underreporting of revenues to the league.
However, he did skate by on other accusations such as the "calendar photo incident" and "security deposit issues," according to the concluding statement via Tom Pelissero on Twitter.
Subtracting the $60 million almost like a payroll deduction, the ex-Commanders owner is out basically $0.06 billion. As such, he still stands to make $5.19 billion in all.
New era begins for Dan Snyder-less Washington Commanders
With ownership in new hands out east, fans hope the team cleans up its act via a trickle down from new owner Josh Harris.
One could argue that with both sales taking place so closely together, the Denver Broncos and Commanders are locked in a race to see which team will ascend first.
The first item on the agenda this season will likely be an examination of general manager Martin Mayhew and an evaluation of how well he can build a team. This will be his third season attempting to get the team to hallowed ground, so some would argue this could be a make-or-break year with Sam Howell looking to surprise the league.
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