Jamalisms Posted April 22, 2012 Report Share Posted April 22, 2012 So, I've always had this opinion on ownership that I assume is irrational for one reason or another, but I've never figured out what those reasons are... when compared to how ridiculous the current way is. Consider, for instance, the Saints succession woes: http://m.nfl.com/news/09000d5d82881a6e/report-saints-owner-places-successor-on-unpaid-leave/ Who wants that entitled princess owning a team? Who thinks she's really going to care once grandpa is gone? It's a disaster waiting to happen, which is why I want to know what's wrong with how I think things should work. In my opinion, inheriting teams is a joke. It leads to lazy, disinterested people who think the team is a playtoy... even more than normal owners. The sense of true ownership, which carries inherent senses of duty and responsibility, is gone. Why not have a by-law which mandates the sale of a team to a new owner after the passing of the primary owner? The family still gets the money and benefit, but the fanbase gets an owner who actively wants the team and will work for it. The league gets to vet new owners as well, which again leads to better owners. Link to post Share on other sites More sharing options...
OILERMAN Posted April 22, 2012 Report Share Posted April 22, 2012 Ah yes.... The Saints were one of the jokes of the NFL and Drew Brees was able to lift them up and win the SB in spite of the terrible ownership . Hopefully Locker can eventually do the same for the Titans. How is Drew Brees not signed at this point? But these rich people that inherit the teams often don't care about it. Link to post Share on other sites More sharing options...
Jamalisms Posted April 22, 2012 Author Report Share Posted April 22, 2012 Just to be clear, the article relates to Benson's future successor. Link to post Share on other sites More sharing options...
OILERMAN Posted April 22, 2012 Report Share Posted April 22, 2012 Just to be clear, the article relates to Benson's future successor. Oh I know. But don't you think all her problems stem from Benson himself? How in the world was she even in line to take over the team anyway? Link to post Share on other sites More sharing options...
NoD Posted April 22, 2012 Report Share Posted April 22, 2012 The Titans absolutely need local ownership. Having a team in Nashville and an owner halfway across the country in Texas who has no clue what is going on is just ridiculous. Link to post Share on other sites More sharing options...
Jamalisms Posted April 22, 2012 Author Report Share Posted April 22, 2012 That's a good question. How are there not more interested, suitable, qualified family members for the Saints? Unless someone has a track record of growing up in the team and truly learning the NFL through successively more involved (and well performed) roles... why would anyone want that person as an owner? They have infinite opportunity and access to learn it, unlike everyone else in the world. If they don't, they're either not qualified or interested enough. It just seems so simple. Link to post Share on other sites More sharing options...
CMJ Posted April 22, 2012 Report Share Posted April 22, 2012 That does bother me too, Nod. Definetly causes disconnect with the local fanbase and their wishes. Link to post Share on other sites More sharing options...
Guest Posted April 22, 2012 Report Share Posted April 22, 2012 Poor Jamal. He can't understand the simple concept of passing down your hard work and wealth to family. Sure it results in poor owners some of the time but it's a bit heavy handed to tell a bunch of billionaires they can't keep their franchises in the family after they pass. Link to post Share on other sites More sharing options...
OILERMAN Posted April 22, 2012 Report Share Posted April 22, 2012 Something like 80% of all wealthy people are self made, the people who inherit that wealth usually squander it. I'd guess that in a situation like this it would be impossible for the grand-daughter to squander it but I'm sure it will be wasted Link to post Share on other sites More sharing options...
Nash Posted April 22, 2012 Report Share Posted April 22, 2012 I may be mistaken, but , my understanding is that most teams are in a family trust of some sort, which avoids the estate tax that would ordinarily occur.. assuming the Titans are worth 805 million , give or take to make the math easier, the tax burden in 2012 would be around $280 million (35% of dollars above 5.2 million) and will be $442 million in 2013 (55% of dollars above $1 million )unless the law is changed.. no one would want to incur that kind of liability even a billionaire.. Link to post Share on other sites More sharing options...
oldschool Posted April 22, 2012 Report Share Posted April 22, 2012 I have a hard time believing that statistic. There is a ton of old money here on the East coast and that it's even worse in the rest of the world where there is hardly any upward mobility. Link to post Share on other sites More sharing options...
Jamalisms Posted April 22, 2012 Author Report Share Posted April 22, 2012 Poor Jamal. He can't understand the simple concept of passing down your hard work and wealth to family. Sure it results in poor owners some of the time but it's a bit heavy handed to tell a bunch of billionaires they can't keep their franchises in the family after they pass. I have absolutely no problem having them receive the financial benefit of a sale, but taking the team - something which incurs absolutely special benefit and treatment in the US and is therefore completely distinct from common notions of ownership rights - from them in order to further protect an already legislatively protected and favorably treated entity. You are correct. Link to post Share on other sites More sharing options...
tinman Posted April 22, 2012 Report Share Posted April 22, 2012 Wonder what the inheritance taxes will be on a NFL team... I assume like any other ESTATE or Business that changes hands from death you would have to pay taxes due then.. Uncle sam is a greedy bastard who robs the dead and morning.. Link to post Share on other sites More sharing options...
Jamalisms Posted April 22, 2012 Author Report Share Posted April 22, 2012 Except that Uncle Sam already favors leagues like the NFL and could easily be persuaded (see: lobbied and bribed) to enact an exception. Link to post Share on other sites More sharing options...
tinman Posted April 22, 2012 Report Share Posted April 22, 2012 Except that Uncle Sam already favors leagues like the NFL and could easily be persuaded (see: lobbied and bribed) to enact an exception. Bastards.. lol yet if i bust my arse to leave my kids half a mill, uncle sam will want his half off the top.. Bunch of scam artist.. Link to post Share on other sites More sharing options...
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