What I get from this is that the Raiders will not be the team that goes there. The article says that the developer, Ed Roski, wants to become a minority owner of the team that moves there, but he doesn't want to pay cash for his share. Instead, he wants to trade rights to develop land in the City of Industry for a share. Al Davis is not a real estate guy. So you're looking at 1 of the other minority owners of the Raiders trading his share for these development rights. Too complicated, too many moving pieces.
Somebody like Al Spanos, the real estate developer who owns the Bolts, will have an easier time doing a deal.
I think the NFL would like to see the Jacksonville Jaguars move to LA.
I think so too. They have a very hard time (even when the team has been extremely good over the past 3-4 years) selling out their stadium. They tarp off large sections of their stadium, and still cannot sell it out. It's too bad, but Florida has the Dolphins, the Faganeers, the Hurricanes, the Seminoles, the Gators, etc. The Jaguars just can't seem to cut it in Jacksonville.
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I think the NFL would like to see the Jacksonville Jaguars move to LA.
The Jaguars and Chargers are the most likley to move.
As for Al not being into real estate, you're probably right, but I'm got this odd feeling that I've read somewhere about Al having financial dealings with a person involved in real estate.
This was back in the 70s/80s - only reason I can even recall it vaguely is because this guy was thought to have links with the mob.
Also got a vague recollection that Al broke off the relationship due to his battles with Pete Rozelle.
I'd have to find it.
It was somewhere in the book "Slick - the Life and Times of Al Davis."
The Jaguars and Chargers are the most likley to move.
As for Al not being into real estate, you're probably right, but I'm got this odd feeling that I've read somewhere about Al having financial dealings with a person involved in real estate.
This was back in the 70s/80s - only reason I can even recall it vaguely is because this guy was thought to have links with the mob.
Also got a vague recollection that Al broke off the relationship due to his battles with Pete Rozelle.
I'd have to find it.
It was somewhere in the book "Slick - the Life and Times of Al Davis."
I'm just wondering if Al will be able to keep the team. I asked that to Mcdonald and he thought he would since his entire business dealings are with the raiders so he puts all the money back into the team...but if Al is forced to sell or in a position where the team falls to Mark...that team is on the market and all bets are off...
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Know THIS Raider Nation...we are a 4-6 win Team until there is a change in mangement.
I'm just wondering if Al will be able to keep the team. I asked that to Mcdonald and he thought he would since his entire business dealings are with the raiders so he puts all the money back into the team...but if Al is forced to sell or in a position where the team falls to Mark...that team is on the market and all bets are off...
It is one of those interesting questions.
What is inheritance tax like in California?
Does Al Davis have enough liquidity to allow Mark to pay the tax without having to sell the Raiders?
It is one of those interesting questions.
What is inheritance tax like in California?
Does Al Davis have enough liquidity to allow Mark to pay the tax without having to sell the Raiders?
nope....you figure if the team is valued at a billion....mark will have to come up with 400 million...al don't have that much in the bank....I don't think. I think estate tax is 40%, no? Look what's happening in st. louis..that's why the rams have had to sell...
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Know THIS Raider Nation...we are a 4-6 win Team until there is a change in mangement.
nope....you figure if the team is valued at a billion....mark will have to come up with 400 million...al don't have that much in the bank....I don't think. I think estate tax is 40%, no? Look what's happening in st. louis..that's why the rams have had to sell...
I'm a million miles away from being a tax expert, but I'm wondering if maybe there is a way AL could somehow paper up a deal to sell the Raiders to Mark beforehand circumventing the inheritance tax........Interesting stuff.......
Another thing to consider is that Mark probably be inheriting somewhere between 51-67% of the team and not be liable for the entire 1 billion dallar value in taxes.......
Is it actually contractual that Mark would become managing general partner by Al's appointment? I'm guessing it is.........All that said, I think there is likely a way for the Raiders to remain in the Davis family.........Through selling more shares or what have you.......
Guess the Jaguars could move their but that would be one heck of a logistics problem for them and their opponents.
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nope....you figure if the team is valued at a billion....mark will have to come up with 400 million...al don't have that much in the bank....I don't think. I think estate tax is 40%, no? Look what's happening in st. louis..that's why the rams have had to sell...
I can't find the exact tax levels, but even if Davis owns just 51% of the club, with his other assets you get to an amount over $400m. And that has got to cost quite a bit.
nope....you figure if the team is valued at a billion....mark will have to come up with 400 million...al don't have that much in the bank....I don't think. I think estate tax is 40%, no? Look what's happening in st. louis..that's why the rams have had to sell...
-Q: I don’t think we’ve talked to you since last year when you sold a 20% stake to outside investors for the first time. Can you explain why you did that?
-DAVIS: You should’ve called me. The fact (is that it wasfor)… estate planning.
-Q: For Mark?
-DAVIS: Well, obviously.
In 2011, that rule comes back. You know it’s down to about 10% in 2010 or no estate tax and then I think in 2011 or 12, right in there, the estate comes back… you have to correct me, does it go back to about 48%?
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