Milstein Withdraws Redskins Bid
Apr. 07, 1999
ATLANTA (AP) _ Howard Milstein withdrew his $800 million bid to buy the Washington Redskins today when it became apparent his group lacked support from NFL owners.
The league's finance committee failed to recommend approval of the sale, voting 3-3 with one abstention after a 4 1/2-hour meeting.
Milstein, a New York real estate developer and part-owner of the NHL's Islanders, then addressed all the owners before announcing his withdrawal.
``In the end we complied with all the league's stated requirements and agreed to all of the league's additional conditions,'' he said.
``But we recognize that a protracted, contentious dispute over ownership would cripple the Redskins and harm the community at a time when the team must focus on rebuilding for the future.''