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Estate Tax May Help Orioles

By Gerry W. Beyer

OriolesAl Davis’ estate could have an estate tax bill of close to $50 million based on the value of Davis’ share in the Oakland Raiders. This large amount may force Davis’ wife and son to sell the team to pay off the estate tax bill.

This is not the first time a high estate tax bill has forced heirs of a deceased owner to sell the team. In some cases, this forced sell can actually benefit a team.

For example, some fans of the Baltimore Orioles hope the team will find a new owner some day after the team’s current owner, Peter Angelos made some questionable decisions regarding management. These fans may get their wish if Angelos’ heirs are one day forced to sell the team because of high estate taxes.

See Len Burman, Can the Estate Tax Save the Baltimore Orioles?, Forbes, Oct. 10, 2011; Shahzeb Gaziani, Can the Estate Tax Help the Baltimore Orioles Fans?, Wealth Strategies Journal 2.0, Oct. 11, 2011.

Special thanks to Jim Hillhouse (WealthCounsel) for bringing this article to my attention.