Saturday, October 08, 2005

Snyder Makes Six Flags Pitch

Mr. Snyder and partners made a pitch to investors in amusement park chain Six Flags in New York on his plan to turn operations around. Snyder's mistakes in running the Redskins are numerous and well documented, but he has few peers as a businessman and marketeer. He was the first to recognize the 21st century value of a NFL franchise. His bid for the Redskins topped $800 million and he wrested ownership from John Kent Cooke to join a league reluctant to accept him. He has maximized every opportunity to uncover new revenue sources. FORBES magazine estimates the value of the team and stadium at $1.3 Billion.

You would think Six Flag's owners and executives would welcome his input, but they resist. I suspect Snyder suffers fools poorly and that executive heads would roll if he ever gains control. The investors might feel otherwise. Snyder is the largest shareholder and has a lot to gain or lose.

Six Flags in Prince George's County is locked in a 1970's time warp. There is no comparison to Paramount King's Dominion or Universal Studios that blend amusement rides with a multimedia presentation. Yet Six Flags charges about the same admission -- Not a good value. They could use the help and Mr. Snyder could just be the man for the job.

I hope Snyder gets control and leaves operations of the Skins to team president and head coach Joe Gibbs. Mr. Snyder is a very good business man; just not so good a football man.

1 comment:

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