Connect with us

Washington

Washington Commanders sale could fetch an estimated $5 billion-$6 billion, new stadium would have to be built

Published

on

Washington Commanders sale could fetch an estimated  billion- billion, new stadium would have to be built


Although it is nonetheless unclear whether or not Dan Snyder intends to promote an element, all or any of his Washington Commanders franchise, there is a rising sentiment across the league that all the group will likely be up on the market.

That is in line with a number of sources across the league who spoke with CBS Sports activities this week after the Commanders introduced Wednesday they’ve employed a financial institution “to think about potential transactions.”

One supply who’s conversant in the bidding course of estimated the group would promote for between $5 billion and $6 billion.

It is potential Snyder is making a money name right here, hoping to promote a fraction of the franchise to somebody in an effort to get an inflow of money that he can then use to fund a badly wanted new stadium. However discovering individuals to purchase right into a franchise with a historical past of controversy below Snyder’s path — with no direct line to a controlling possession stake — would appear troublesome.

Advertisement

It is also potential there can be no sale in any respect. One supply has indicated maybe Snyder is doing this to purchase a while and get of us off his again as controversies and investigations develop.

Nonetheless, the information got here simply two weeks after Snyder stated by means of a spokesperson that he and his spouse, Tanya, wouldn’t think about promoting the franchise. Colts proprietor Jim Irsay stated on the league house owners conferences in New York in October that there was advantage to think about eradicating Snyder as proprietor of the Commanders amid a number of investigations. A supply tells CBS Sports activities one other proprietor expressed privately just lately that they did not consider Snyder would have the ability to emerge from the latest controversies sustaining possession.

“I simply do not suppose it’s going to be that reduce and dried,” one league supply who’s identified Snyder for years stated of a possible full sale of the group.

The NFL has two investigations open on Snyder, each led by former Securities and Alternate Fee chair Mary Jo White. One entails an allegation of sexual assault by a former Washington worker, and the opposite offers with alleged monetary improprieties with the Commanders that date again greater than a decade.

Earlier this week, ESPN reported the U.S. lawyer’s workplace within the Japanese District of Virginia had opened a prison investigation into monetary improprieties allegations. The workplace declined remark to CBS Sports activities, however a number of sources stated no less than one particular person has been interviewed in relation to the potential investigation.

Advertisement

Roger Goodell and a league spokesman have stated there isn’t any timeline on when the White investigations will conclude, although one supply indicated to CBS Sports activities just lately that the conclusion was “extra like weeks than months” away. The league has promised to make the report findings public, in contrast to the Beth Wilkinson investigation that resulted in a positive and suspension of Snyder that, in line with the league however disputed by his attorneys, stays on-going.

Jason Friedman, a 24-year worker of the Washington franchise, instructed the Home Committee on Oversight and Reform in March about alleged monetary improprieties that befell over a number of years on the membership. With years-old emails he had saved previous to his firing in 2021, Friedman defined to the federal government the alleged scheme that might have the group promote tickets at one value after which log it at a lower cost. Finally, the distinction can be pocketed by the group fairly than go into the revenue-sharing pool as required by the league’s guidelines.

Friedman estimated this follow was executed a few dozen occasions, and every time it will be within the a whole lot of 1000’s of {dollars}. Although Friedman didn’t instantly implicate Snyder as having identified about this alleged scheme, when requested if Snyder knew about it, Friedman stated “I consider so.”

Snyder has denied all allegations of wrongdoing.

Regardless of the result of the investigations, the about-face for Snyder is important. Very like how he stated for years he would not change the title of the group, he had equally dug in his heels that he would not think about promoting the group as just lately as October. Sources consider he is feeling the mounting stress whilst nearly all of group house owners have heeded the decision of NFL commissioner Roger Goodell to remain quiet publicly and anticipate the investigations’ findings.

Advertisement

“It is cumulative. Constructing is falling aside,” stated one league supply of the troubles with Snyder, together with the necessity for a brand new stadium. “Roll in some potential monetary impropriety. It is simply not a man you need within the membership.”

Who might be subsequent within the membership? Amazon founder Jeff Bezos, wholesale mortgage lender Mat Ishbia, media mogul Byron Allen and personal fairness investor Joshua Harris can be main candidates for controlling possession, which might require the power to jot down a test of no less than $2 billion to even be thought of.

As a result of the franchise would wish a necessity stadium, and since native governments would appear to work with a brand new proprietor to realize that purpose, funds can be wanted to ensure a brand new stadium occurs, which may take the worth down barely. Basically, you are shopping for a franchise and stadium, however the stadium is an ostensible teardown.

Allen would turn into the primary Black controlling proprietor in NFL historical past ought to he finally get his approach. Different events would wish to think about including restricted companions from various backgrounds, because the league has proven since earlier than the Broncos sale that that was a key component to new possession.

But nonetheless, Snyder would not must promote to the very best bidder. The Commanders would not be an public sale just like the Broncos had been, and Snyder may select to whom he sells. Snyder selecting to promote to Bezos, proprietor of a newspaper Snyder feels has coated him unfairly, could not occur.

Advertisement

One league supply puzzled simply how a lot Bezos is within the group. He owns the Washington Submit, so his ties to the realm are clear. Amazon Prime has partnered with the league to ship Thursday Night time Soccer. And he was beside Goodell fairly conspicuously within the kickoff sport between the Payments and Rams.

However Bezos, among the many richest individuals on this planet, additionally serves as somebody who can drive the worth up of any group if it is believed he is concerned.

“If I am the league, the longer I can preserve him as a stalking horse, the higher,” one supply stated.





Source link

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Washington

Legislative Staff in Washington State Approve Contract in First Collective Bargaining

Published

on

Legislative Staff in Washington State Approve Contract in First Collective Bargaining


It took Democratic staff in Washington’s Legislature a little longer but they have joined their Republican colleagues in approving two-year contracts, concluding the first-ever round of collective bargaining for legislative employees.

Legislative assistants, policy analysts and communications staff in the House Democratic Caucus and legislative assistants in the Senate Democratic Caucus unanimously ratified agreements in separate votes in late December. The decisions came nearly three months after workers overwhelmingly rejected proposed contracts with their employers, which are the chief clerk of the House and secretary of the Senate.

“We’re pretty excited. It’s not everything we wanted. But it’s a reasonable first contract,” Josie Ellison, a communications specialist and member of the House Democratic Caucus bargaining team, said Thursday night. “For now, everybody seems pretty enthusiastic about it.”


The Washington Public Employees Association represented both Democratic staff bargaining units.

Advertisement

“This historic agreement marks a new chapter for our members, providing the protections and support they deserve,” Amanda Hacker, association president said in a statement.

Legislative assistants in the House and Senate Republican caucuses approved their respective two-year agreements in September.

Each contract contains pay hikes of 3 percent on July 1, 2025 and 2 percent a year later, the same amount offered to other state employee unions. State lawmakers and the next governor, Bob Ferguson, will now decide whether to fund them in the next two-year budget.

Under the collective bargaining law, state employee unions — including legislative staff units — needed to submit a ratified contract by Oct. 1 to be considered for funding. Because Democratic staff did not meet the deadline, they will need to make a separate case to Ferguson and lawmakers to fund their deals.

Jeremy Knapp, an executive legislative assistant with the Senate Democratic Caucus and member of the bargaining team, said Thursday that administration of the Senate and House are supportive.

Advertisement

“It’s in the Legislature’s hands now,” he said.

A 2022 law cleared the way for partisan legislative staff to unionize and negotiate terms and conditions for the workplace.

Employees of the Democratic and Republican caucuses in each chamber had to be in separate units unless a majority of each caucus voted to be in the same unit. All four units negotiated collectively on economic issues, like wages and benefits, and separately on workplace-related issues.

“The collective bargaining agreements represent several months of hard work by the negotiating teams and we are pleased that we have been able to reach an agreement with both the Legislative Professionals Association and the [Washington Public Employees Association],” Chief Clerk of the House Bernard Dean wrote in an email.

The contracts with Democratic staff call for a third-party arbiter in the grievance process. That means if a dispute arises on a contract provision, the two sides will have access to arbitration through the American Arbitration Association, to resolve it. This had been a sticking point as employers resisted involvement of an outside party, employees said.

Advertisement

“It gave us what we think is a very fair grievance process,” Knapp said.

Secretary of the Senate Sarah Bannister called the agreement “a significant milestone” that “brings a sense of relief and allows us to focus fully on the work ahead.”

She said the decision to add a panel with an arbitrator “was made collaboratively, reflecting a commitment from everyone to ensure fairness, transparency, and efficiency in resolving disputes.”

The contracts also outline new ways to resolve conflicts between elected officials and legislative staff. And there are provisions to create a “transition” pool for union members facing the loss of a job because the lawmaker they work for retires, loses re-election or leaves office for another reason.

Knapp said the Senate contract lays out how a person facing the loss of work could get a job as a session aide to avoid unemployment. There’s also language ensuring the employer provides workers, who are at-will employees, with two weeks notice before being let go or two weeks pay if fired.

Advertisement

This story was first published in the Washington State Standard. Read the original here.





Source link

Continue Reading

Washington

Washington Street closure extended in Quincy

Published

on

Washington Street closure extended in Quincy


QUINCY (WGEM) – The road closure for Washington Street between 7th and 8th streets has been extended for fire hydrant repair.

Officials stated that the closure has been extended to Jan. 15.

Officials also warn motorists to use alternative routes and drive with caution.

Advertisement



Source link

Continue Reading

Washington

A brief history of presidential inaugural speeches, from George Washington to today

Published

on

A brief history of presidential inaugural speeches, from George Washington to today


The only constitutionally mandated event on Inauguration Day is for the president-elect to take the oath of office. But on the first Inauguration Day, in 1789, George Washington did something else.

He gave a speech.

Every president since has followed his example and delivered an inaugural address as part of the national celebration.

This button from George Washington’s first inauguration visually unified the states of the Union.
National Museum of American History

These addresses are more than just a series of individual speeches. Rhetoric scholars Karlyn Kohrs Campbell and Kathleen Hall Jamieson argue that each inaugural address is not simply marking one stage in the ritual of political transition. Each is also part of a genre that has characteristics which, at some level, are expected and understood by speakers and audiences. There have been 59 inaugural addresses, starting with Washington, and while they may have differed in style and even specific subjects, virtually all feature these characteristics, which range from calls to unify the country to setting forth political principles.

Advertisement

The political history collections at the National Museum of American History, where I am a curator specializing in the history of presidential campaigns and campaign rhetoric, include several objects that illustrate these characteristics.

Exploring the genre of inaugural addresses through quotations and objects from the past can help listeners better understand the opening speech of a new administration, the first act in a job that began with the taking of the oath.

'We are all Republicans....all Federalists' reads a quote on an ivory pitcher with Thomas Jefferson's image on it.
This commemorative pitcher features a quote: ‘We are all Republicans….all Federalists,’ from Thomas Jefferson’s first inaugural address.
National Museum of American History

(Re)Unification of the audience

Inaugurations serve as the transition point between the competition of a campaign and the needs of an administration beginning to govern. For the audience to properly fulfill their role as witnesses to this investiture of power, they must be unified and reconstituted as “we the people.”

In the words of political scientist Lee Sigelman, these speeches are “literally brimming with verbal tokens of unity.”

There are references to our founders, our nation and the future we face. In 1957, Dwight Eisenhower spoke of the purposes “to which we, as a people, are pledged,” and Benjamin Harrison called his 1889 inaugural moment a “mutual covenant” between himself and the people. George W. Bush in 2001 united his listeners, saying, “Americans are generous and strong and decent, not because we believe in ourselves but because we hold beliefs beyond ourselves.”

Thomas Jefferson’s first inaugural in 1801 may have been the most explicit: “We have called by different names brethren of the same principle. We are all Republicans, we are all Federalists.”

Advertisement

Reaffirmation of national values

New presidents must also establish their qualifications for the office by demonstrating they understand and will preserve the shared values that are key to what Bill Clinton in 1993 called “the very idea of America.”

A button with images of Abraham Lincoln and Barack Obama on it, with 'A Birth of New Freedom' printed above those images.
A button commemorating the 2009 inauguration of Barack Obama.
National Museum of American History

These traditional values are expressed in words such as freedom, liberty, democracy and courage. In 1981, Ronald Reagan reminded the audience, “Freedom and the dignity of the individual have been more available and assured here than in any other place on Earth. Jimmy Carter in 1977 summarized these values into “our belief in an undiminished, ever-expanding American dream.”

Setting forth political principles

A large ivory piece of silk with black printing on it.
A silk copy of William Henry Harrison’s 1841 inaugural address, the longest in history at more than 8,400 words.
National Museum of American History

Unlike many other presidential addresses, most notably the State of the Union, the inaugural does not advocate specific legislation but rather articulates more general philosophies that will guide a new administration. When policies are offered, they are less a call for action than a demonstration of a president’s commitment to the democratic system.

In 1845, James Polk promoted his “plain and frugal” economic plans because he said a national debt “is incompatible with the ends for which our republican Government was instituted.” Herbert Hoover said that the policies he listed in his 1929 address would be tested against the “ideals and aspirations of America.”

Even William Howard Taft, whose 1909 inaugural was among the most policy specific, framed his ideas with respect to the “proper” role of the federal government “in what it can and ought to accomplish for its people.”

Enacting the presidential role

A miniature ladder with a ribbon that features the likenesses of President William McKinley and his new vice president, Theodore Roosevelt.
This novelty item celebrating William McKinley’s second inauguration in 1901 highlighted the political principles he had promoted in his first inaugural address and term.
National Museum of American History

Candidates give speeches that are, for obvious reasons, partisan and self-promoting. But when the campaign ends and governing begins, presidents must demonstrate an understanding of their role within the broader system.

In his first inaugural in 1933, Franklin Roosevelt moved out of campaign mode and acknowledged the constraints on his “leadership of frankness and vigor.” He pledged to rely on his “constitutional duty” to work with Congress.

Rhetoric scholars Campbell and Jamieson add that these speeches must also enact the “public, symbolic role of president of all the people” by revealing traits such as humility and reliance on a higher power. A typical example is found in the conclusion of Warren Harding’s 1921 address: “I accept my part with single-mindedness of purpose and humility of spirit, and implore the favor and guidance of God in His Heaven. With these I am unafraid, and confidently face the future.”

Advertisement
A booklet with images of an eagle, a three-masted schooner and two men, with 'OFFICIAL INAUGURAL PROGRAM' printed on the tope.
The official program for Franklin Roosevelt’s 1933 inauguration.
National Museum of American History

Fulfilling ceremonial expectations

Because of the celebration that surrounds them, inaugural addresses are expected to reflect stylized, ceremonial speaking. Such speeches strive to reach beyond the immediate situation to evoke timeless themes using memorable phrases.

In 1961, John Kennedy challenged Americans across the decades to “Ask not what your country can do for you – ask what you can do for your country.” The phrases “mystic chords of memory” and “better angels of our nature,” among the most memorable words in presidential rhetoric, have been applied to countless situations since Abraham Lincoln first uttered them in 1861.

Not all inaugural addresses achieve greatness. Some have been quite forgettable. But each of them has tried to fulfill these expectations, helping to sustain what Franklin Roosevelt in his second inaugural called “our covenant with ourselves.”



Source link

Advertisement
Continue Reading
Advertisement

Trending