John Angelos continues to remind us how awful he is

[OsFanSinceThe80s]

45 minutes ago, jabba72 said:

I think Boras would strongly advise against any team friendly deal.  Pretty much any agent can arrange something like that. I think Boras is you're agent means one thing only, money.

I think an early extension can be reached with Gunnar, but it has to include an opt out. Players like Gunnar look like a sure thing to hit it big in free agency.

But what if something happens like Gunnar gets a serious injury affecting his play or what if he has a stark decline similar to the one Cody Bellinger suffered? Bellinger went from MVP in his third season to being non tendered by the Dodgers when he hit free agency before his comeback this year.

Perhaps Gunnar will lose out on some free agent money, but he'll lock in security now if he signs a contract extension. This assumes John Angelos makes a good faith attempt to sign Gunnar and not some joke offer like 8/$80M extension.

Edited August 22, 2023 by OsFanSinceThe80s

[ExileAngelos]

28 minutes ago, Billy F-Face3 said:

However, something I fear might throw a wrench into things and goes against this idea, is the misunderstood talking point repeatedly posted on this message board about estate taxes. I'm no expert on tax law, but just doing a quick search and having a look at estate tax laws, it would appear that the idea the Angelos's would have to pay a ton of Estate Taxes is incorrect. The reason being is that there is something called "The Unlimited Marital Deduction", and Peter's estate is being passed to his spouse, Georgia. This means that Georgia is not subject to estate tax.

[baltfan]

43 minutes ago, jabba72 said:

I think Boras would strongly advise against any team friendly deal.  Pretty much any agent can arrange something like that. I think Boras is you're agent means one thing only, money.

What people are missing about some of these players is that often their agents aren’t as experienced and are looking for the payday.  They are afraid they will lose the client to another agent, so they cash in when they can. 

[accinfo]

48 minutes ago, Billy F-Face3 said:

 

However, something I fear might throw a wrench into things and goes against this idea, is the misunderstood talking point repeatedly posted on this message board about estate taxes. I'm no expert on tax law, but just doing a quick search and having a look at estate tax laws, it would appear that the idea the Angelos's would have to pay a ton of Estate Taxes is incorrect. The reason being is that there is something called "The Unlimited Marital Deduction", and Peter's estate is being passed to his spouse, Georgia. This means that Georgia is not subject to estate tax.

https://www.investopedia.com/articles/personal-finance/120715/estate-taxes-who-pays-what-and-how-much.asp

 

Never the less, there is still good reason to believe that the Orioles could be under new ownership in approximately 5 years time.

The reason they wait until Peter Angelos dies to sell the team is not to avoid estate taxes but capital gain taxes.  You are correct on that point.

[jdwilde1]

33 minutes ago, ExileAngelos said:

Your that smart banker who killed his wife, aren’t you?  

[deward]

2 hours ago, jabba72 said:

I think Boras would strongly advise against any team friendly deal.  Pretty much any agent can arrange something like that. I think Boras is you're agent means one thing only, money.

I don't think that's always the case. Boras is arguably the best agent in the business, and his agency has built a significant infrastructure to help support their clients. I'm sure Boras clients get top tier attention and perks relative to what other agencies offer. I'm sure there have been some players who just liked knowing they had Boras ready to go to war for them, even if they themselves didn't necessarily intend to prioritize hunting after every last dollar over other factors. Not saying that represents the average Boras client, but I'm sure they're out there. 

[Uli2001]

The Orioles are only a small-market team because they have small-minded owners. Who are not independently rich and need to make money off the team. This is a storied franchise with a large fan base.

[Roll Tide]

I continue to say we have the worst ownership group in professional sports. John Angelos could’ve changed that narrative with the additions of the Elias regime. But, has spoiled that with all of his shenanigans. 
 

John Angelos is clearly drawing down all of the revenue and pocketing it. This pads him and his family long term. The likely goal is probably retaining ownership of the team and/or walking away after a sale with every last nickel that he can in the event the team has to be sold. 
 

Free The Birds!

[Roll Tide]

4 hours ago, Uli2001 said:

The Orioles are only a small-market team because they have small-minded owners. Who are not independently rich and need to make money off the team. This is a storied franchise with a large fan base.

As much as I dislike the Angelos family this post is categorically untrue. The Orioles TV market was split in half when the Expos were allowed to move to DC. The rest of what happened is just colored bubbles. 

[dystopia]

2 minutes ago, Roll Tide said:

I continue to say we have the worst ownership group in professional sports. John Angelos could’ve changed that narrative with the additions of the Elias regime. But, has spoiled that with all of his shenanigans. 
 

John Angelos is clearly drawing down all of the revenue and pocketing it. This pads him and his family long term. The likely goal is probably retaining ownership of the team and/or walking away after a sale with every last nickel that he can in the event the team has to be sold. 
 

Free The Birds!

The Oakland A’s probably have something to say about that, but that’s about it. 

[drjohnnyfever1]

8 hours ago, Billy F-Face3 said:

You beat me to the post. The more I think about the ownership situation, the more I'm getting a very intuitive feeling that the Orioles will be under new ownership by the time players like Gunnar and Adley get to their free agent years. Let's look at the facts..

• Peter Angelos is 94 years old.
• Goldman Sachs was hired just last year, in 2022, to evaluate the Orioles franchise for a potential sale.
• When under deposition during her son's lawsuit, Georgia Angelos has stated that it was in the family's best interest to place the team for sale.

However, something I fear might throw a wrench into things and goes against this idea, is the misunderstood talking point repeatedly posted on this message board about estate taxes. I'm no expert on tax law, but just doing a quick search and having a look at estate tax laws, it would appear that the idea the Angelos's would have to pay a ton of Estate Taxes is incorrect. The reason being is that there is something called "The Unlimited Marital Deduction", and Peter's estate is being passed to his spouse, Georgia. This means that Georgia is not subject to estate tax.

https://www.investopedia.com/articles/personal-finance/120715/estate-taxes-who-pays-what-and-how-much.asp

 

Never the less, there is still good reason to believe that the Orioles could be under new ownership in approximately 5 years time.

Saw this on the Reddit board.  Don't know if it was posted here or how it applies to billionaires, but it might shed some light on how much the heirs would save by waiting for PA to die.  I know Frobby and others have posted about this before, but this seems a little different.  It may just be the aspect of the super rich not having the same rules.  What the article describes is my experience with small inheritances from my family, but who knows when it involves deep into 9 figures.

 

https://www.reddit.com/r/orioles/comments/15xqc74/john_angelos_wont_sell_the_orioles_at_least_in/

[Moose Milligan]

You guys are so afraid of Scott Boras and it’s hilarious.  You’d think he was Jason, Michael Myers and Freddy Krueger all rolled into one and acting as a sports agent. 

[Going Underground]

Why are we worried about Scott Boras or whoever is the agent for a certain player? John said he could not sign a player to a contract extension unless raising prices dramatically. So no Ohtani on Opening Day against his former team? I thought Ohtani was  coming here. John said in his spring training interview that Elias and company would handle the payroll and he was there to fund it 

[maybenxtyr]

10 hours ago, wildcard said:

My worry in that Elias does not stay.  As long as he stays with the scouts, develop staff and analytics he can identify  and develop the players to keep a playoff team for years to come.

Without retaining some of the younger/prime players it won't happen. The only team close to what you are describing is Tampa, and they've yet to win a WS. They've made the playoffs 8 out of 15 seasons since they've been "winners". That's not terrible, but I don't know if that's what I would call a perennial playoff team. And even they spend more money than the O's.

[Going Underground]

Article that explains what you can use the lease money on and what the Ravens plan is on spending the $600 million on. Actually only using $450 million so far. 

 

How the Orioles can spend $600 million if they sign a new lease - The Baltimore Banner
https://www.thebaltimorebanner.com/politics-power/state-government/orioles-600-million-lease-IUGTATU4UFCLND2HJBS5UMPO4Y/