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Angelos family selling Baltimore Orioles to David Rubenstein and Mike Arougheti, team valued at 1.725 billion | HFBoards - NHL Message Board and Forum for National Hockey League
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Angelos family selling Baltimore Orioles to David Rubenstein and Mike Arougheti, team valued at 1.725 billion

There's no way a full sale is coming before Peter Angelos' death, the taxes on the team's value gain would be killer, likely around $200M in taxes alone. Whereas if they wait until he dies, the cost basis for his beneficiaries becomes the fair market value as of the day he died.
 
Random schmoe said:
There's no way a full sale is coming before Peter Angelos' death, the taxes on the team's value gain would be killer, likely around $200M in taxes alone. Whereas if they wait until he dies, the cost basis for his beneficiaries becomes the fair market value as of the day he died.
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Unless it's held in the estate and not paid out until he dies.
 
Random schmoe said:
There's no way a full sale is coming before Peter Angelos' death, the taxes on the team's value gain would be killer, likely around $200M in taxes alone. Whereas if they wait until he dies, the cost basis for his beneficiaries becomes the fair market value as of the day he died.
Click to expand...
Shows what I know.

I guess the family is following Peter's wishes that they sell the team so his wife can live comfortably. I had just assumed they'd wait until he died.
 
Long term lease extension got finalized last month after a long series of talks.

Local is good.
 
Good details here from a reporter who would know, has confirmed good sources.

Main points is that they're only selling 40% now, but Rubenstein will become the control person. The remainder to be sold upon Peter Angelos' death. So I guess I wasn't totally wrong about the capital gains taxes and 'a full sale'.

www.thebaltimorebanner.com

John Angelos agrees to sell Orioles

Baltimore native David Rubenstein would become the team control person as the lead investor in a group that also includes Maryland sports legends.
www.thebaltimorebanner.com
 
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