(From Sports Business Daily)
THE REDSKINS GROSS REVENUE REACHED $300 MILLION last year, "well above published estimates and NEARLY DOUBLE the $162 MILLION that the franchise grossed before DANIEL SNYDER bought it in 1999," according to an SEC filing cited by THOMAS HEATH in A WASHINGTON POST front-page piece.
Snyder has expanded SPONSORSHIP REVENUE from $4 MILLION to
$48 MILLION and increased individual per game FOOD SALES from
$9 before he bought the team to $15 last season.
This "effectively means Snyder has increased concession revenue at FEDEX FIELD from around $8 MILLION a year to nearly $15 MILLION a year."
Snyder's SEC FILING also stated that he has started "A SPECIAL EVENTS BUSINESS LINE" promoting concerts, parking lot entertainment and other events at FEDEX FIELD that now generates $2 MILLION per year. Heath noted THE REDSKINS REVENUE is "more than that of THE COWBOYS and approaches the annual gross revenue" of THE YANKEES. While player payroll, administrative expenses, taxes, security and THE FEDEX FIELD MORTGAGE "likely will eat up more than $200 MILLION, the franchise’s stunning revenue performance likely places it among THE MOST PROFITABLE TEAMS IN U.S. PROFESSIONAL SPORTS."
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