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Daniel Snyder is the current owner of the Washington Redskins Football team. In 1999 , he purchased the team and their stadium for $800 million following the death of the previous owner Jack Kent Cooke , the most expensive transaction in sporting history. FOOTBALL While Snyder has been owner, the Redskins' annual profit has increased nearly $100 million. When he purchased the Redskins in 1999, the team's annual revenue was $10 million lower than the highest grossing team at the time, the Dallas Cowboys . As of 2004, the Redskins' income exceeds the Cowboys by nearly $40 million, making them the highest grossing team in the National Football League . This is in part due to sponsorship arrangements with Anheuser-Busch , Pepsi and Nextel , but mainly due to a $207 million deal with FedEx to gain naming rights to the Redskins' stadium, now named FedEx Field . Snyder often directly involves himself in Redskins' competitive operations and player acquisition. He has served as the de facto GM for the team over the years. Throughout his tenure, he has invested a great amount of money into high-profile players, including Deion Sanders , Bruce Smith , Jeremiah Trotter , Jeff George , Clinton Portis , Antwan Randle-El , Brandon Lloyd , and Andre Carter . However, since Snyder assumed control, these investments have not translated into much success on the football field as the Redskins have only managed a 54-58 overall record and have made the playoffs twice. In 2004, following the resignation of Steve Spurrier as coach, Snyder successfully lured former Hall of Fame coach Joe Gibbs out of retirement. In doing so, Snyder promised to leave personnel decisions to Gibbs, who also was given the title of Team President. However, Snyder still has final word say on all transactions. This seems to have served the team well, as the Redskins returned to the playoffs under Gibbs in the 2005 season as a wild-card entrant. They beat the Tampa Bay Buccaneers in the wildcard round before losing to the Seattle Seahawks in the divisional round. He prefers to be called Mr. Snyder rather than Daniel OTHER VENTURES Before purchasing the Redskins, Snyder made most of his money in his quest to build his marketing company, Snyder Communications . Snyder Communications was later sold to the Havas group in the largest transaction in the history of the advertising/market industry. He is currently the Chairman Of The Board of Ventiv Health , and is actively involved in several other organizations. In November 2005 , Snyder, through his investment vehicle, Red Zone, successfully completed a consent solicitation related to Six Flags Inc. , which provided for the removal of three members of the board of directors and replaced them with three new directors chosen by Snyder, including himself. As of year end 2005, Snyder owned 11.7% of Six Flags Inc. He is also related to Ben Shamis (An israeli diplomat) |
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