lspain1 said:
Actually, I think the Commanders' overall value as a franchise is beginning to slip under the weight of all the losing seasons. It has long been an axiom that the Skins' season ticket waiting list was decades long, tickets included in wills, etc. It is my understanding that situation has radically changed and Skins tickets are not nearly so hard to come by. That might partially be a product of the larger stadium and the presence of the Ravens, but Snyder definitely needs a winning season soon out of his team.
Snyder raking in the money as Commanders owner
Posted: Saturday Aug 20, 2005 5:18 PM
WASHINGTON (AP) - Dan Snyder's marketing savvy pushed the Washington Commanders' revenues last year to $300 million, nearly double the amount the team was grossing when he bought the franchise in 1999.
Snyder outlined some details of the Commanders' finances in a document he filed this week with the Securities and Exchange Commission in connection with his attempted takeover of Six Flags amusement parks.
dcminversion
While the Commanders were already considered a profitable franchise, the documents reveal that the franchise belongs in the upper echelons of moneymaking in U.S. sports. The document puts the Commanders' annual revenues at $162 million in 1999, when Snyder bought the team and its stadium for $800 million.
Snyder made his original fortune through marketing, and he has applied his expertise fully with the Commanders. Sponsorship revenue, for example, has risen 1,200 percent - from $4 million to $48 million - in six years. Some 10,000 seats have been added to the stadium, which has a capacity of nearly 92,000 and is the largest in the NFL. More efficient concession services have led to greater customer spending, with the average fan spending $15 for food per game instead of the $9 when Snyder bought the team.
The documents do not reveal the Commanders' annual profit. Player salaries and mortgage on the stadium are just two major annual expenditures, but the team appears to be making considerably more than previous estimates of $50 million a year.
The financial wizardry hasn't helped Commanders reach Snyder's stated goal of winning the Super Bowl. The team hasn't had a winning season since 1999. He bought the team in May of that year and kept the existing coaching staff and players in place for that season.