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SOMETHING'S COOKING IN DC? NFL MIGHT WANT COOKE TO OWN SKINS
Published January 19, 1999
The NFL wants John Kent Cooke to own the Redskins, a league official said Sunday, but a rep for the trustees of the Jack Kent Cooke estate said that they will "stand" by their agreement to sell the team to the group headed by Isles co-Owner Howard Milstein and MD business exec Daniel Snyder, according to George Solomon of the WASHINGTON POST. Cooke's final bid of about $680M was not only less than the Milstein/Snyder group bid of $800M, but also less than that of AZ business exec Sam Grossman, who offered $720M. The NFL believes the trustees "should be flexible" in allowing Cooke to increase his bid if he wants to. NFL Senior VP/Communications & Government Affairs Joe Browne: "The current (Cooke) ownership has a proven track record. The continuity of this ownership would be a plus for the league, if it can be accomplished to the satisfaction of the trustees." However, a rep of the trustees said they had a "binding contract" with the Milstein group "that precludes our submitting any other proposals to the [NFL]." The NFL's Finance Committee wants the trustees "to consider submitting a proposal from Cooke" and has asked them "to explain at a meeting in Miami later this month under what circumstances they could submit a bid" from Cooke and "why they chose the Milstein group over [him]" (WASHINGTON POST, 1/18). SHOW ME THE MONEY: In DC, Tony Kornheiser questions where Cooke can "come up with" an additional $120M. Kornheiser: "This thing could end up strung out in court for years. It seemed like the Milsteins bought the Redskins fair and square" (WASHINGTON POST, 1/19).