John Angelos approved as Orioles primary contact

[accinfo]

3 hours ago, BohKnowsBmore said:

Right, but poster I responded to stated that SHE would owe taxes on the transfer to her, “just like anybody else.”

I was wrong.  The part that Peter Angelos owned of the Baltimore Orioles would pass to her tax free.  If the kids tried to take ownership or anyone else she would owe the tax.

[Roll Tide]

Good article

 

Quote

But talk like this is premature while the elder Angelos is still alive. Those familiar with the tax laws say it’s highly unlikely the Orioles would be put on the market at this time: a sale would be subject to capital-gains taxes, but that’s not an issue when Angelos passes away and the family decides to sell. There’s no indication the family is ready to sell, and in fact the Orioles have been working with the Maryland Stadium Authority on a new Oriole Park lease that would provide for ballpark improvements as well as a long-term commitment to Baltimore.

Still, the Baltimore Sun reported that investors have been talking about buying the team down the line; the likes of Larry Lucchino, Cal Ripken Jr., Carlyle Group CEO David Rubenstein and Allegis Group co-founder Jim Davis were mentioned by the Sun.

https://ballparkdigest.com/2020/11/05/future-of-orioles-ownership-in-transitional-time/

 

[Roll Tide]

Would be interesting to see Bisciotti’s buddy head a group with Cal and perhaps Steve as a minority owner.

 

Forbes has him valued at 3.4 Billion 

 

https://www.forbes.com/profile/jim-davis-1/?sh=7d3bfea3c462