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Astros GM is going to have a long 2 months.

bpilktree

By bpilktree
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TouchemAll Hangout Grand Counsel

TouchemAll

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On 8/5/2017 at 10:30 PM, bpilktree said:

He may not sleep for two months because they way Britton has looked lately and the Astros bullpen being awful last two weeks is going to have th fans on him.  He better hope that they win it all.

They lost again last night 3-2 LOL too bad ... xD

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mcgraw238 Major Leaguer

mcgraw238

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On 8/9/2017 at 2:45 PM, spiritof66 said:

I'm assuming that Peter Angelos owns about 80 percent of the Orioles, that he continues to do so until he dies, and he leaves his ownership interest in the team to one or both of his sons. I am pretty certain that there is no "estate plan" that will enable his estate to avoid paying taxes if that occurs. As described below, the estate tax problem that would arise on these assumptions is the same one created when the owner of a family farm dies and bequeaths it to his children, who have to sell the farm to developers to pay the estate taxes on it.  More accurately, any such plan would involve making arrangements that would complicate the ownership of the team, which MLB would not allow.

Very nice analysis. However, I'm not comfortable with a couple of the assumptions and I'm not sure the analogy to the family farm is appropriate. I've assisted in the transfer of many a family farm using some sophisticated estate planning. The problem you cited tends to arise where there has been little to no planning and the family visits the estate planning attorney after it is too late. I'm also not comfortable that MLB is going to prohibit ownership that would "complicate" the ownership structure. Complicate to you and me tends to be normal course of business for billionaires. You may have some incite into the requirements for MLB, but I have a hard time believing that the owners are going to restrict estate planning that will ultimately impact their ownership of their franchise. I'm familiar with the ownership of one NFL franchise that engaged in sophisticated estate planning to keep the team in the family for future generations. Also, there is some high profile litigation of another where it is clear that the team was sold to an Intentionally Defective Grantor Trust for transfer tax purposes. The use of a Grantor Retained Annuity Trust is another possibility that may have been utilized to address transfer taxes. We likely will not know what Angelos has done with regards to the team until after he has passed, but there are some options if he was proactive in his estate planning. It is a heavy lift to get that much wealth out of one's estate, but a large chunk can be moved with proper advanced planning. Time will ultimately tell us the outcome.

Again, nice analysis...and what you outlined could ultimately prove to be correct. I agree that the life insurance trust will not do the trick.

 

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atomic Hangout Grand Counsel

atomic

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On 8/6/2017 at 2:23 PM, Moose Milligan said:

I mean, the Astros GM isn't the one that put the kibosh on the deal.  Can blame that guy all you want but Petey screwed everyone here, not the other way around.

The Astros tried to trade us two pitching prospects with arm problems.  If Petey squashed the deal good for him.  They should have given us their top two prospects if they wanted Britton not some damaged goods. 

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weams Hangout Grand Counsel

weams

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Quote

 

  On 8/6/2017 at 2:23 PM, Moose Milligan said:

I mean, the Astros GM isn't the one that put the kibosh on the deal.  Can blame that guy all you want but Petey screwed everyone here, not the other way around.

 

 

 

Actually, the team that screwed up is the one who did not get what they needed to win a World Series, not the team that still has control of the asset. 

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Tx Oriole Hangout Grand Counsel

Tx Oriole

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3 hours ago, sportsfan8703 said:

The Astros even lowballed TEX for Darvish.  Their owner has a bad reputation of meddling in trades too.  Just think, he hasn't even had trades to meddle in for a long time.  

I would rather be where the Astros are than where the O's are. 

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Tx Oriole Hangout Grand Counsel

Tx Oriole

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58 minutes ago, cimota said:

The Astros tried to trade us two pitching prospects with arm problems.  If Petey squashed the deal good for him.  They should have given us their top two prospects if they wanted Britton not some damaged goods. 

Britton had been hurt too. I hadn't read that the Stros prospects were damaged goods or don't remember reading it when that news  came out about the Stros prospects. 

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weams Hangout Grand Counsel

weams

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https://twitter.com/HardballTalk/status/896072579823292416

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Josh Reddick: the Astros are “down in the dumps” about the team standing pat at the trade deadline <a href="https://t.co/pfw7jrFNU2">https://t.co/pfw7jrFNU2</a></p>&mdash; HardballTalk (@HardballTalk) <a href="https://twitter.com/HardballTalk/status/896072579823292416">August 11, 2017</a></blockquote>
<script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>

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tntoriole Hangout Grand Counsel

tntoriole

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15 hours ago, hoosiers said:

Really?  You think?  Way to go out on a limb, here, speculating that "Mr. Angelos has probably analyzed these matters (his own personal finances) at a much more proficient level than .... a fan board."  I am not sure who on this board ever thought for one second that Spirit was "more proficient" in his knowledge of PA's finances than PA himself.  What a cheap, unnecessary shot.  Whatever.

It is the posters with new and original thoughts that I applaud here.  I think the way Spirit used the financial angle (which he supported with past examples, but I disagree with) may not have been the best way to arrive and justify his main opinions, but whatever.  I think Spirit's main points that 1) post-estate taxes, the sons will not be nearly as wealthy as the father and 2) that the sons may not be accepted by the Commissioner or other owners as appropriate stewards of the franchise are very worthy of discussion.

I think he raises some interesting issues with point number two, but let's not forget that the Os were purchased by PA in bankruptcy, that very recently the Wilpon's personal finances greatly interfered with the operation of the Mets or that MLB has stepped in to help troubled franchises make payroll (I think the Diamondbacks were in serious financial jeopardy within the past 15-20 years - and the Rays as well).  I would also speculate that even if other owners believed the Angelos sons lacked the financial, business and/or baseball acumen to properly run the Orioles, the other owners may prefer to leave that alone and let the Orioles founder.

Sorry.  Not my intent.  I had thought this was a thread about the trade deadline with the Astros. 

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Beef Supreme Hangout Veteran Council

Beef Supreme

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On 8/7/2017 at 10:10 AM, Frobby said:

Overall, the Astros have done a great job.   They don't have a great bullpen, but they have a great team.    

A "great team" with a glaring weakness. "A chain is only as strong as its weakest link," it has been said. Maybe the Astros are not "great" after all.

And failing to address their weakness via trade is their responsibility solely, no one elses.

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Tx Oriole Hangout Grand Counsel

Tx Oriole

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8 hours ago, weams said:
 

 

 

Actually, the team that screwed up is the one who did not get what they needed to win a World Series, not the team that still has control of the asset. 

Man Stros are losing against the Rangers. They are really having a bad stretch. Oh well. 

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