Daniel Snyder, the principle owner, has turned the club into a profit-generating enterprise even though the team failed to qualify for the playoffs for four straight seasons, the Washington Post (NYSE:WPO) reported Saturday.

The team earned an estimated $70 million a year, before taxes and interest payments, on revenues of more than $200 million and its annual net profit is estimated at $20 million to $25 million.

When Snyder purchased the team it had a half-billion in debt, but he has succeeded in cutting the debt in half, bolstered by good earnings, low interest rates and his recruitment of new investors who injected more than $200 million into the team last summer.

He has squeezed 6,000 new seats into the stadium, added several new sponsors and maximized marketing opportunities by issuing a Redskins cheerleaders swimsuit calendar and putting the Redskins brand on everything from diecast miniatures of the B2 stealth bomber to Santa Claus.

Forbes magazine estimated Snyder might get $1 billion for the team he bought for $800 million five years ago.