NFL accountants: “It’s considered leakage”
NFL owners: Leakage my balls!
The Washington Commanders could be sold at any moment now … especially after the latest news update.
According to ESPN, leading bidder Josh Harris, along with billionaire Mitchell Rales and Los Angeles Lakers legend Magic Johnson among others, have submitted a $6 billion bid to purchase the Commanders from Dan Snyder.
The news report comes after Snyder stated that $6 billion would be his asking price for the Commanders, and now it appears that Harris, the owner of the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils, has put together a team able to purchase the franchise.
Harris has been competing alongside fellow bidders Tilman Fertitta, Steve Apostolopoulos, Brian Davis and Amazon founder Jeff Bezos to purchase the team, and it appears it is inching closer to the finish line.
What’s really going on here is that after many years of catastrophic mismanagement, including plenty of well-documented allegations of terrible sexual harassment and ripping off the team’s own season ticket holders, what’s finally forcing Snyder to sell the team is that it’s come out that Snyder was committing one genuinely unpardonable sin: he was chiseling his fellow plutocrats over a few nickels and dimes:
The House Oversight Committee received information that alleges the Washington Commanders kept ticket revenue that is supposed to be shared with other NFL teams, sources told Front Office Sports.
According to NFL bylaws, all teams are required to pass along 40% of ticket sales from each home game — minus ticket handling charges and taxes — to the league, which then disperses the funds to visiting teams. At least one person gave information in recent weeks to Congressional investigators that alleges the Commanders didn’t pass along the full 40%, two sources with knowledge of the investigation told FOS.
Apparently what happened is that Snyder — who has an estimated net worth of $4.9 billion, which is an underestimate if he gets the six billion he’s asking for the team he bought in 1999 for $750 million — engaged in some creative accounting with the live gate for a college football game that was held at Washington’s stadium, the receipts from which were subject to the revenue-sharing rules.
Note that we’re probably talking about stealing — sorry, inadvertently misappropriating via an unfortunate but totally unintentional bit of negligent accounting — a few hundred thousand dollars, which to an NFL owner is the equivalent of what a quarter is to a normal person.
The principal principle is that principal is sacred.
When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals. We shall be able to rid ourselves of many of the pseudo-moral principles which have hag-ridden us for two hundred years, by which we have exalted some of the most distasteful of human qualities into the position of the highest virtues. We shall be able to afford to dare to assess the money-motive at its true value. The love of money as a possession -as distinguished from the love of money as a means to the enjoyments and realities of life -will be recognised for what it is, a somewhat disgusting morbidity, one of those semicriminal, semi-pathological propensities which one hands over with a shudder to the specialists in mental disease. All kinds of social customs and economic practices, affecting the distribution of wealth and of economic rewards and penalties, which we now maintain at all costs, however distasteful and unjust they may be in themselves, because they are tremendously useful in promoting the accumulation of capital, we shall then be free, at last, to discard.
JM Keynes (1930)
What is the robbing of a bank compared to the founding of a bank?
Is it wrong for a man to steal a loaf of bread to feed his starving family? Well what if they don’t like bread? What if they like yachts?