Orioles Owner Peter Angelos said Wednesday that he
"probably will make a formal bid of more than" $500M for the
Redskins "within the next 10 days," according to Mark Maske
of the WASHINGTON POST. Angelos: "I believe that we will
make a bid. But I can't say that for certain. ... I'd say
(the chances are) substantially more than 50 percent."
Angelos said he "believes" the Redskins and Jack Kent Cooke
Stadium are worth "substantially more than" $500M and
"indicated" that he would spend $50M on stadium improvements
if he and his partners buy the team from the estate of the
late Redskins owner. Angelos, who admitted that he has
never been in the new facility: "I hear it's not as
accommodating as it should be. We theorize we'd probably
have to spend $50 million, maybe more, to get it up to a
standard which today's fans expect." He added that if he
acquires the team, he "won't change the name of the team or
the stadium." Angelos "doesn't think the NFL's rules
against cross-ownership would prohibit him from owning a
baseball and football franchise in the Baltimore-Washington
region." He also "indicated he wouldn't be opposed to
joining forces with Redskins President John Kent Cooke," but
"acknowledged" that it's "doubtful" he would bid for the
team and the stadium if it is offered as a stock purchase
for tax purposes, rather than as an asset purchase. Angelos
has yet to discuss a possible joint bid with John Kent
Cooke, but did say he wouldn't make his sons have to buy the
Orioles like John Kent Cooke is forced to do with the
Redskins after his father's deal. Angelos: "I would leave
the Orioles to my two sons. I don't want to fault Jack Kent
Cooke up there, but it'd have been nice if he'd have done
the same for John Cooke" (WASHINGTON POST, 11/12).
LOS ANGELOS: In DC, Thomas Boswell writes on Angelos'
meeting yesterday with the editors of the WASHINGTON POST,
stating the Angelos was in "full spectacular eruption. ...
No owner in sports is more fun to hear than Angelos."
Angelos: "You know, you can make $25 million a season net
profit in the NFL." Boswell: "Nothing like that is possible
in baseball, even in Camden Yards" (WASHINGTON POST, 11/12).
