Steelers Likely To Submit Super Bowl Bid Mets Offering Citi Cardholders Added Perks Phillies Shifting Tix Sales Tactics To Digital Pistons Hope Player Hospitality Pays Dividends Redskins' Richmond Incentives Face Scrutiny Cal McNair Groomed For Texans Leadership Maple Leafs Hire Devils' Lou Lamoriello As GM Glendale, Coyotes Agree To Arena-Management Changes WNBA Approves Shock's Move To Arlington Penguins Embracing Hockey's Big-Data Move
WITH ESTATE SETTLEMENT, JOHN KENT COOKE SET TO BUY REDSKINS
Published April 14, 1998
The estate of former Redskins Owner Jack Kent Cooke has "agreed to pay" his widow $20M to settle her challenge to his will, according to Finn & Shear of the WASHINGTON POST. The settlement provides Marlene Ramallo Cooke with financial security, and "ensures that most" of Kent Cooke's estate, which is estimated at $500M-825M will go to a charitable trust, as he had instructed. The agreement "also will make it easier" for Redskins President John Kent Cooke to purchase the team from the charitable foundation, since legal experts had speculated that if Marlene Cooke's lawsuit had been successful, the team might have been sold to "generate the cash to pay her off." John Kent Cooke said the settlement "allows me to pursue my plans to purchase control of the Redskins" (WASHINGTON POST, 4/14).