Go Away, Howard. Your Money's No Good Here

HOWARD MILSTEIN just wants a place at the table. But the guys who own the furniture keep moving it. Milstein, a billionaire real estate developer, and his partners have offered $800 million to buy the National Football League's Washington Redskins franchise. The bid was not only $200 million better than anyone else's but would be the largest price ever for a North American sports team. Still, the NFL owners don't seem to want Milstein's money. Although Milstein says he has restructured the financing to meet league guidelines, sources say the offer is too highly leveraged. It's an ironic argument from a...

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