30 percent of an NFL team will be for sale in September

Several of you have sent to us a link to a CNBC video regarding the sale of sports franchises, and it contains an intriguing nugget of news.

One of the financial talking heads (the only one we recognized was Darren Rovell) said that a 30-percent stake in an NFL team will be available in September.

The motivation apparently is estate planning — along with the reality that NFL franchises currently have significant value.  So if a piece of the pie can be dumped and a ton of money can be raised in its place, it will become even easier to pay the estate taxes at the appropriate time.

If, of course, the “estate event” occurs before the end of the current year, there will be no estate taxes.  That reality surely is prompting plenty of extremely wealthy men and women to sleep with one or more eyes open through the final day of 2010.

51 responses to “30 percent of an NFL team will be for sale in September

  1. Ay yes the estate tax. A tax on everything that you’ve already paid a tax on. Well unless of course your Tim Geithner.

  2. I’ve always wanted to buy a minority stake in an NFL team so I can have the opportunity to shell out a gazillion bucks, be completely shut out of all meaningful management decisions, and sit in the endzone while the 70% majority owners sits with his minions in the owners box.
    I just can’t think of a better way to spend tens (or hundreds) of millions of dollars

  3. Obamanomics. Phase 1.
    USA, You asked for it, you got it.
    The “change”: 2 years from now we will be the USSA.

  4. “That reality surely is prompting plenty of extremely wealthy men and women to sleep with one or more eyes open through the final day of 2010.”
    Florio, did you finally make a joke that was funny? (I actually find a lot of your jokes funny, but apparently the cool thing to do is to hate on your while giving you a compliment at the same time). Only bad part of the joke is the idiots that read this site won’t get it (really directed at Dolphins fans–their comments are overwhelmingly idiotic).

  5. They killed Steinbrenner in order to avoid the estate tax. Ralph Wilson probably doesn’t want the same to happen to him.

  6. Is that the same value of the entire CFL?
    Aw, heck, I’ll throw in the UFL and those defunct leagues.

  7. I seriously doubt we’d have this stupid estate tax if Bush hadn’t given a 1.3 trillion dollar tax break to the richest of the rich and spent another trillion plus on the war.
    It sucks ass but we gotta get out of debt some way……or just go ahead and sell out to the Chinese completely.

  8. Hey Baggsman, we could continue with GWB and his policies, we were well on our way to becoming a third world country. You might want to recognize that there is a lot of equity in an NFL team and maybe someone is looking to ease his way out.

  9. Al Davis is selling 30% of the Redskins in hopes of recouping part of the money Shanahan owes him. With a good old Raider interest rate of 50% a month, he may get just half of what he’s owed back.

  10. @OZU – I never thought about it but yeah, Steinbrenner escaped the hands of uncle Sam.
    @DUSBRAD – the folks here in Stockton agree that Mr. Spanos’ health is declining. It is likely the Chargers.

  11. Zaggs says:
    August 12, 2010 5:09 PM
    Ay yes the estate tax. A tax on everything that you’ve already paid a tax on. Well unless of course your Tim Geithner.
    Isnt that the truth. We fought the best military in the world of the time with poor equipment, poor training, & severely outnumbered, to get out from an oppressive government that couldnt hold a candle to taxation in the USA today. Government involvment, & taxes today are waaaay beyond ridiculous.
    I believe the estate or death tax is unbelievable. Pay tax again on everything you’ve already paid taxes on, in some cases multiple times..????

  12. If i could bet on which team it could possibly be then id bet on the bengals only because there were recent reports stating that the organization is now throwing around the idea of buidling an indoor training facility and with Mike Brown already a stiffler for money, he could very well have come up with the idea to sell 30% of the organization to someone who will never have any say in the organization anyways. So in other words a possible win win scenario for the bengals and Mike Brown.

  13. The Raiders. It’s common knowledge Al has been looking for investors for years, no family interested in running the team after his death, and has struggled to sell out his antiquated stadium ever since he got bamboozled in LA and was forced to return to Oakland with his hat in his hand.

  14. MuskyHunter2542 says:
    August 12, 2010 5:18 PM
    I bet its The Vikings
    Or The Jags
    I bet you are wrong.
    I hope the salary cap goes away forever.
    The packers would never ever be competitive again if that happens.

  15. Bossman says: “Obamanomics. Phase 1.”
    The first estate tax — enacted July 6, 1797, to help pay for naval rearmament — required only the purchase of federal stamps for wills and estates, but was terminated four years later because the need for the revenue passed.
    A direct tax on inheritances imposed in 1862 during the Civil War ranged from 0.75 percent to 5 percent.
    The top rate was raised to 6 percent in 1864; but the tax was then abolished July 14, 1870.
    In 1898, an estate tax with a top rate of 15 percent on estates over $1 million was imposed to pay for the Spanish-American War — then repealed on April 12, 1902.
    America’s fourth estate tax, enacted in 1916, set a top rate of 10 percent on estates over $5 million. It was raised to 25 percent in 1917, but this rate applied only to estates over $10 million. Unlike its predecessors, it was not repealed after the war, although the top rate was dropped to 20 percent in 1926.
    President Franklin Roosevelt raised the top rate to 60 percent in 1934, and to 70 percent in 1935. The same bill increased the top income tax rate to 75 percent and increased corporate taxes. Altogether the law raised just $250 million annually.
    Today the estate tax goes up to 60 percent. It exists only to redistribute income, since its revenue yield is negligible. But estate planning makes the tax virtually voluntary, according to estate tax experts.
    For your family’s sake, please go back to school and get your GED.

  16. Another stupid tax by liberal democrats. More proof of why this country needs to just split in half with one being a socialist, taxed out of the ass government and the other being a very low taxed, conservative, capitalist government.

  17. Davis has been trying to sell a piece of the Raiders. That’s the main reason Oakland has had such a normal offseason. Kinda like slapping a coat of paint on your house when you put it on the market.

  18. Uncle Al. I heard he wants the money to invest in this new invention called the horseless carriage.

  19. its probably the Rams. They were the ones who tried selling shares to khan.
    The buyer will undoubtedly be Ari Gold. He and Babs have had their eye on an NFL team since the start of this season of Entourage.Ari will be upset at the first owners meeting when he is not allowed to participate in any of the important decisions.

  20. “Today the estate tax goes up to 60 percent. It exists only to redistribute income, since its revenue yield is negligible. But estate planning makes the tax virtually voluntary, according to estate tax experts.”
    Thanks east 96th; These clowns complaining about how high taxes are probably belong to the 47% on Americans that pay NO income tax. Tax rates for 2007 were the lowest in many years, lower by far than when Ronald Reagan was in office.
    A friend of mine is a legal secretary in a probate firm. She tells me her boss counsels rich people to give inheritances to their children before they die so the government doesn’t get a big chunk. Many do not. They use inheritence to hold over the heads of their heirs, taxes be damned. Yeah, I’m worried these people are paying too much. Right.

  21. Do I work a factory job and light fireworks on the 4th of July just so Obama can do this? I don’t think so, brother.

  22. It’s Jerry Jones. He’s decided to become a Tibetan monk and contemplate his navel for the rest of his life.

  23. Hey, maroons…no one posting on this website, Florio included, is likely even subject to the estate tax, so quit your complaining about it. Also, the 2 richest people in this country are actually for it.

  24. ‘(the only one we recognized was Darren Rovell)’
    If you don’t recognize David Faber from the video clip there’s a pretty good chance it’s not going to be you. Try turning off ESPN once in a while and try to listen to a station that actually gives you news that can help you down the road. Then maybe you’ll have a chance to own a sports franchise.

  25. This is a non-story put out by the NFLPA. No team could be sold and approved by the time the new tax laws go in to place! And think about it, the majority of the BILLIONAIRE owners can put off selling 4-8 years until a new congress repeals the penalities, including those on their own heirs!

  26. joemac1114 and pkrlvr, can’t we escape politics here? I mean really, we’ve all got an opinion but dam, I get enough politics in the news w/o having to read your tripe here. BTW joe mac, we’re well on our way to becoming a European country now. We’re just going to join the collective… Maybe I’ll ask the kid who works the drive-thru at McD’s for job. You think he’s hiring? You know, with that big Obama tax break he’s getting maybe he can hire a few people and improve our economy. Or maybe he can afford to produce more things, or import more things to improve our economy… What do you think douche, you think he can pull that off? I don’t know, I guess I’d have to put a little faith in the rich guy to do that because he wants to get richer and there isn’t anything wrong with that unless you’re jealous of wealth.

  27. None of you will ever be touched by the estate tax and thus your whining about it baffles me to no end. Do you really think your ever going to make enough money to be subject to this tax. Without such a tax all you do is allow larger and larger concentrations of wealth in very small groups of people. And in case you haven’t noticed that doesn’t work out well for the rest of us.

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