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O's Owner To Bid $500M For 'Skins

Baltimore Orioles owner Peter Angelos says he will probably bid more than $500 million for the Washington Redskins within 10 days.

In an interview in Thursday'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 he would spend $50 million to upgrade the stadium if he and partners succeed in buying the team from the Cooke estate.

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    Forum: Will Angelos' bid succeed?

  • "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 the two have not spoken.

    "It's his father's team," Angelos said. "That's part of his life and part of wht he does."

    Prospective buyers face a Nov. 23 deadline to submit bids. The pool of potential buyers likely will 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.

    © 1998 SportsLine USA, Inc. All rights reserved

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