49ers Take Another Image Hit With Brooks Charge Questions Remain In Phillies' Front Office Jim Buss Remains Optimistic About Lakers Leonsis Weighing Wizards Practice Facility Spots White Sox To Host Faith Day Franchise Notes Bayern Munich Partners With Columbia Univ. Blank Hiring CEO To Oversee Teams, Business Redskins, Native Americans Ordered To Mediation Bills Tap Former Player For Alumni Relations
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).