Will Sterling Buy the Angels?

[LAAMike]

With Ballmer paying 1.8 - 2.0 billion for the Clippers, Sterling may get this sale classified as a "forced sale",  which would mean that he can buy a like property within two years (under a 1033 exchange) with no taxes paid.  He would have a mighty big wallet that might get Arte's attention.  The property could then move to his heirs (Sterling is 80 - 81) on a stepped up basis with no capital gains taxes being paid, only inheritance taxes which would have been paid upon his demise anyhow. 

Edited May 30, 2014 by LAAMike

[markb]

From what depths of your ass did you pull this idea?

[martinpa25]

There are dumb and there are nonsense posts....then there's this

[tdawg87]

What

[tdawg87]

the

[tdawg87]

testicles

[tdawg87]

did I just read?

[LAAMike]

I am just saying that under these unique circumstances that Sterling might be in a position to significantly overpay for another sports franchise and this might get Arte Moreno's attention.

[Tyler]

smh

[AngelsAndRamsFan]

Lol

[tdawg87]

brb

[Docwaukee]

We have too many imposters for Sterling to want this team. 

[Brandon]

The thought process is ludicrous, although I see what you are trying to say with regards to finances.

This hypothetical doesn't work because Arte is doing extremely well and sports franchises are becoming rare commodities with tv deals and the income they are procurring....it's why guys like Ballmer and the Guggenheims are overpaying to simply get in. The long term appreciation is just absurd and getting more absurd seemingly with every sale.

 

Sterling is 80, he is going to ride off in the sunset.

 

Another aspect you would have to consider is that the league and owners must approve a sale and new ownership group. Call me crazy, but with some poll coming out saying Sterling is the most hated guy in the country, I doubt he gets approval.

[Quinlanforthewin]

I am just saying that under these unique circumstances that Sterling might be in a position to significantly overpay for another sports franchise and this might get Arte Moreno's attention.

 

Can't believe I'm even addressing this but you do realize the MLB didn't even allow Cuban to buy the Rangers right?  Yet they're gonna allow Sterling to buy the Angels.  

[wopphil]

Thankfully there are no blacks, Asians, Mexicans, or Dominicans in MLB, so this might just have legs to it.

[Brandon]

You're going to need this:

 

[gotbeer]

Ok, I applaud the thought process in this.  And if the stadium deal falls through, I can see it happening.  

 

From the hypothetical you gave, that is a great incentive for Sterling to buy.   And for the stupid price that is expected for the Clippers.  This is the damn Clippers mind you.  Not even in the hemisphere, although I wish they would burn in hell, especially that fat tub of lard that does the shoe commercials, of the Doggies.  2 billion for the Clippers is just absurd.  Even if he offers $1 billion for the angels, considering Arte paid 1 and change, and if his deal for the stadium is indeed in dire straights.  It's possible.

 

But there is that whole thing he said.  And MLB probably would not approve of the sale.  

 

In the end though.  A bigger threat might not be the Angels, but the land in which the Angels are on.  Because the MLB has no say in who buys that.  

[AngelsFaninGA]

No, but I'm sure Adam Silver will somehow force Arte to sell the team to Oprah as reparations for what Sterling did in a different league altogether. Then we'll get Chone Figgins and Dontrelle Willis back. 

[LAAMike]

Gotbeer - you make a good point that the development rights to the land around the stadium are a key asset.  Who would be better to maximize these assets than Sterling, who despite his stupid remarks has made his billions as a developer.  I agree with all that getting MLB approval would be a long shot but money does funny things some times. 

[Blarg]

From what depths of your ass did you pull this idea?

Normally this would be bordering on an abusive post. Normally.

Carry on.

[LAAMike]

Eric - I am thick skinned and do not feel abused by any posts that do not involve my wife or family.  This post sure beats talking about DL lists and the ETA for our DL players.

[Blarg]

I'm not completely sure but at this point I don't think MLB would allow Sterling to buy the Extra Innings package.

[mancini79]

Sterling is a racist...he's going to buy a Soccer team.

[tdawg87]

Sterling is a racist...he's going to buy a Soccer team.

 

Are you insinuating that all racists are gay?

[gotbeer]

Gotbeer - you make a good point that the development rights to the land around the stadium are a key asset.  Who would be better to maximize these assets than Sterling, who despite his stupid remarks has made his billions as a developer.  I agree with all that getting MLB approval would be a long shot but money does funny things some times. 

 

In the end, it's a good boys club.  Here is a scenario.  

 

Offer is $2 billion for the Clippers.  Owners being in the good boys club will absolutely know the ramifications of a forced sale.  So they know the deal is in place.  But they will force sale on Sterling.  If what the OPS said is true, then it will save him in taxes a guess of 30-40% some $600 million to $800 million.  That will pretty much be shut up and leave money, and prevent him from suing the NBA, and dragging it out further.  

 

Now you have a land developer with $2 billion, but may lose $600-800 million of it, if he doesn't spend it in 2 years.  And 155 acres of prime property in dispute, that happens to meet that timeframe.  I'm sorry, but if he puts that free tax savings in as a bid for the Angels land, Arte or anyone else will not be able to compete.  That would mean, to put a new stadium up, it would probably cost Arte more than Yankee Stadium.  And CoA will not care.  They will see some $600 million into the city coffers.