So, How Much Did Dan Snyder Shell Out for That Pigskin Posse (Formerly the Redskins)?
Ah, the Washington Commanders. Formerly known as the Redskins, a name change that still sparks lively debates at barbecues across America. But before we get into the uniform rebrand and the ongoing controversy surrounding the old name, let's talk about how much owner Dan Snyder coughed up for this team back in the day.
Buckle Up, It Was a Hefty Price Tag
We're not talking about a bag of peanuts here. In 1999, Snyder plunked down a cool $800 million to become the proud owner of the Redskins, along with FedEx Field (which, at the time, was called Jack Kent Cooke Stadium). That's right, eight hundred million big ones.
Fun fact: This purchase made Snyder the king of the most expensive sports team purchase...at the time. Think about that for a second. That's more money than most people will see in their entire lifetime, and Snyder just used it to buy a football team.
Wait, There's More to the Story (Because There Always Is)
Now, $800 million sounds like a lot (because, well, it is), and even for a billionaire like Snyder, that's a hefty chunk of change. So, how'd he manage it? Well, folks, it wasn't exactly a cash-only deal. Snyder borrowed a good chunk of that, including a cool $340 million from Société Générale, a French bank. Talk about going all in on burgundy and gold!
Inflation Makes Everything Bigger (Even Debt)
Here's another interesting wrinkle. Eight hundred million dollars in 1999 is a whole different ball game than it is today. Adjusted for inflation, that $800 million translates to a whopping $1.45 billion in today's money. So, Snyder basically bought a football team for the price of a small country (and maybe a few fighter jets, for good measure).
The End of an Era (and a Name)
Fast forward to 2023, and after years of controversy surrounding the Redskins name, Snyder finally agreed to a rebrand. The team is now known as the Washington Commanders. Whether this change will usher in a new era of success for the franchise remains to be seen, but one thing's for sure: Snyder's hefty investment back in 1999 certainly paid off when he sold the team for a reported $6.05 billion in 2023. Not bad for a guy who borrowed a bunch of money to buy a team with a (then) controversial name.
Frequently Asked Questions (Because You Might Have Some)
How to spend $800 million?
That's a great question! Maybe buy a few islands, a fleet of yachts, and a lifetime supply of gourmet hot dogs (important for all those games).
How to buy a football team? Having a spare $800 million lying around helps. Also, being good at negotiation and navigating complex loan agreements wouldn't hurt.
How to win over a fanbase? Well, that's a whole different story. Maybe try winning some games and being respectful of your team's history (and maybe the people it might offend).
How to deal with inflation? Invest in a time machine? Honestly, that's a question for the economists.
How much did Dan Snyder sell the Washington Commanders for? A reported $6.05 billion. Not bad for an investment that started with a hefty loan.