The stadium thread 2: New stadium boogaloo

[BaltimoreSkins]

Originally Posted by SunnySide

WASHINGTON — In what could be a major blow to plans for a brand-new Washington Commanders stadium in Virginia, state lawmakers are in talks to take hundreds of millions of dollars off the table in its bid to bring the team’s new complex to the Commonwealth.

Multiple sources within the Virginia Legislature tell WUSA9, talks are underway to slash the stadium financing package it plans to offer Washington Commanders owner Dan Snyder from one billion to $350 million. That’s a stunning 65% decrease in the amount of money the Commonwealth would pony up to help Snyder build his new Commanders stadium on one of three proposed Northern Virginia sites.

When asked why, one State Senator, who asked not to be identified so that he could speak freely on the issue, said “Public reaction to this project has been underwhelming. With every passing day, it’s evident the team lacks gravity.”

In addition to the challenge of selling tickets, the franchise continues to operate under the cloud of sexual harassment investigations by Congress and the NFL. And with Virginia planning to pay back whatever stadium bonds it sells using future tax revenue from a new stadium, that unnamed State Senator added “a lot of us have concerns that the team has the ability to stay viable for a decade. Or even, five years.”

https://www.wusa9.com/article/sports...0-b3e2a95d138c

Yikes ... I dont even think Snyder has the means/capital to finance a new huge stadium mini-city complex without State contribution.

Would someone even "lend" him 1B?

He definitely doesn't have that capital. He had to borrow money to buy out his minority owners. I think the disconcerting thing is the state legislature doesn't see a long term viability of the team.

[Giantone]

Originally Posted by BaltimoreSkins

He definitely doesn't have that capital. He had to borrow money to buy out his minority owners. I think the disconcerting thing is the state legislature doesn't see a long term viability of the team.

Has the buyout of the Minority Owners been approved ,I didn't think it had gone through yet?

[SunnySide]

Originally Posted by BaltimoreSkins

He definitely doesn't have that capital. He had to borrow money to buy out his minority owners. I think the disconcerting thing is the state legislature doesn't see a long term viability of the team.

League would have to approve another debt waiver?

Or no, maybe thats just for ownership of the team and the league doesnt care about how much debt an owner has tied to a stadium?

Snyder accruing debt might be the way to get him out.