Angelos May Bid for Redskins
WASHINGTON (AP) _ Baltimore Orioles owner Peter Angelos says he’ll probably bid more than $500 million for the Washington Redskins within 10 days.
In an interview in today’s Washington Post, Angelos said the team and Jack Kent Cooke Stadium in Prince George’s County were worth ``substantially″ more than that. He added that would spend $50 million to upgrade the stadium if he and partners succeed in buying the team from the Cooke estate.
``We are reviewing the information that we have and I believe we will make a bid,″ said Angelos, who called the odds better than 50 percent.
Angelos said he doesn’t think NFL rules against cross-ownership would prohibit him from owning baseball and football teams in the Baltimore-Washington region.
The Redskins play within 75 miles of the Orioles, which would appear to prohibit him from owning both, but he would argue there is no conflict because the Ravens already play football within the market area.
``So there’s no conflict with the rule,″ he said.
Angelos said he wouldn’t be opposed to joining forces with John Kent Cooke, who is trying to buy the team from his father’s estate, but added that the two have not spoken.
``It’s his father’s team,″ Angelos said. ``That’s part of his life and part of what he does.″
Prospective buyers face a Nov. 23 deadline to submit bids. The pool of potential buyers will likely be trimmed to five finalists.
Others interested in the team are Daniel Snyder, a Bethesda-based businessman; New York Islanders owner Howard Milstein; and New York real estate financier Andrew Penson.