Snyder Deals To Buy 'Skins

April 6, 1999 / 6:28 PM EDT / CBS/AP

The Washington Redskins have another sale agreement for $800 million, meaning coach Norv Turner and general manager Charley Casserly will keep their jobs if the deal goes through.

Prospective buyer Daniel Snyder, a communications executive, and trustees of Jack Kent Cooke's estate announced an agreement today.

The sale, which must be approved by NFL owners, includes Jack Kent Cooke Stadium and the $800 million would be a record price a North American sports franchise.

Snyder said he will retain Turner and Casserly for the 1999 season. He also sent a letter to employees at Redskin Park, notifying them that all their jobs are safe.

"Football will be a new business for me," Snyder said. "And I am going to need experienced football personnel to run the team."

Snyder was a partner with Howard Milstein in an $800 million bid that was withdrawn this month when it was apparent it would not be approved by NFL owners.

This time, Snyder heads the group by himself. His minority partners include family members, publishing executive Mort Zuckerman and Zuckerman's longtime business associate, Fred Drasner.

Snyder, 34, stands to become the league's youngest current owner. The $800 million purchase price would shatter the $530 million paid by Alfred Lerner last year for the expansion Cleveland Browns.

Snyder's bid will be examined by the NFL's finance committee and most likely will be submitted before league owners at their May 25-26 meetings in Atlanta.

"Based of our own review ... and our discussions with the league office, we believe the financing and ownership structure will comply with NFL rules," the trustees said in a statement.

Unlike the sweeping changes expected at Redskin Park had the Milstein-Snyder bid prevailed, Snyder is keeping everyone for now.

A source close to Snyder, speaking on condition of anonymity, told The Associated Press that Snyder will not clean house in part because the draft has already taken place, spring practices have begun and it would maintain continuity to keep Turner and Casserly at least one more year. The Redskins haven't made the playoffs since 1992.

Also, the commitment to retain Turner and Casserly is expected to gain favor with some NFL owners as when they prepare to vote on the sale.

Snyder had strongly hinted at changes when he was partnered with Milstein, expressing his desire to win and following it with comments such as "We've got to get the right people." Vinny Cerrato, former director of player personnel with San Francisco, was even hired to prepare for the draft.

But Milstein pulled out of the process at a league meeting on April 7 when it became obvious that he did not have the 24 of 31 owners' votes needed for approval. Some owners said Milstein was borrowing too much money to finance his part othe bid, and others were concerned that he would be confrontational owner.

Snyder's new group has more ready cash behind it -- more than $100 million. The trustees, hoping avoid the errors that doomed the Milstein bid, have worked closely with the league and met with commissioner Paul Tagliabue to ensure that, this time, they are submitting an offer that has a good chance of approval.

Cooke, who became the Redskins majority owner in 1974, died April 6, 1997. Rather than leave the team to his son John, he instructed that the team and stadium be sold and the money used to establish a scholarship fund.

John Kent Cooke made several bids for the a team, but was among many contenders that lost an extensive round of bidding to the Milstein-Snyder group in January. Cooke made a new offer this month after Milstein withdrew, but withdrew it last week when it because apparent that the trustees were negotiating only with Snyder.

Snyder is chief executive of Snyder Communications in Bethesda, Md., a marketing firm that employs 8,000 people in 80 locations in 12 countries. It is particularly big in pharmaceutical and long-distance telephone marketing.