Jody Allen- Paper Bag Time

[WestCoastChippewa]

Someone please remind me: when is the earliest she can sell again without having to pay that big tax or whatever the situation is?

2025, same year Pete’s contract expires.

 

[James in PA]

2025, same year Pete’s contract expires.

Thanks. I looked it up and saw something stating that May 2024 is the earliest they could sell. But because teams wanna have their head coach in place no later than the Super Bowl, there is no way we are moving on from Pete until after the 2024 season at the earliest.

 

[OneLofaTatupu]

Kinda silly to have people in paper bags when you still have a winning record.

I think it sends a message - the direct message - how can this team have so much talent and suck so bad? How do they get worse when they should be getting better?

 

[seabowl]

Thanks. I looked it up and saw something stating that May 2024 is the earliest they could sell. But because teams wanna have their head coach in place no later than the Super Bowl, there is no way we are moving on from Pete until after the 2024 season at the earliest.

For those wondering….

“Hunke repeated to the WSJ Sunday Jody Allen’s words last summer about a timeline to a sale of the Seahawks and Blazers. Hunke told the WSJ 10 to 20 years is “a fair and accurate time frame” to fully resolve Paul Allen’s estate and sell the two sports franchises from it.”

 

[renofox]

Whether the team is sold soon or not depends on the tax law surrounding amortization of goodwill. Owners are able to take a tax deduction for almost the entire value of a franchise spread over a number of years. Whenever a team is sold, the goodwill resets for the new owner.

If the goodwill reset to the trust on PA's death, the trust now has a multi-billion deduction against again income taken equally over ~20 years. It would actually be a breach of fiduciary duty to sell the team too early if it's tax avoidance value is that substantial.

I'm too lazy to do the research but I worked as a CPA years ago and am pretty sure the tax law still allows the fair market value of goodwill to be added to the trusts tax books and amortized (deducted) over 20-30 years.

 

[seabowl]

Whether the team is sold soon or not depends on the tax law surrounding amortization of goodwill. Owners are able to take a tax deduction for almost the entire value of a franchise spread over a number of years. Whenever a team is sold, the goodwill resets for the new owner.

If the goodwill reset to the trust on PA's death, the trust now has a multi-billion deduction against again income taken equally over ~20 years. It would actually be a breach of fiduciary duty to sell the team too early if it's tax avoidance value is that substantial.

I'm too lazy to do the research but I worked as a CPA years ago and am pretty sure the tax law still allows the fair market value of goodwill to be added to the trusts tax books and amortized (deducted) over 20-30 years.

See message just above for Jody’s apparent timeline

 

[AubHawk71]

More foolish than paying for a ticket and missing Thanksgiving dinner to watch last night's train wreck?

A $200 ticket, no less. I priced out the Hawks @ Rams game in Dinglewood, and tix started at $60.

 

[Maelstrom787]

Oh for the love of god

 

[Seahawks Guy]

If I'm Jody Allen, I'm telling Pete "If you don't win the Super Bowl this year, you're gone. If you do win the Super Bowl, we'll give you another year or two."

 

[TAB420]

Jody is not going to do anything big. She’s going to sell the team soon.

Is this true? I just read and article where Phil Knight keeps attempting to buy the Blazers. In that article she stated that neither franchise was for sale. Maybe she has changed her mind since then, one can only hope.

 

[CallMeADawg]

I think it sends a message - the direct message - how can this team have so much talent and suck so bad? How do they get worse when they should be getting better?

It sends a message that the fans are disconnected from reality if you are brown bagging a team with a winning record. You'll look like fools, but go right ahead. It's your right to do as you wish.

 

[CallMeADawg]

Oh for the love of god

Right?

 

[pittpnthrs]

You guys must not remember 1992.

We all remember it, but it's not 1992 now.

 

[OneLofaTatupu]

It sends a message that the fans are disconnected from reality if you are brown bagging a team with a winning record. You'll look like fools, but go right ahead. It's your right to do as you wish.

I suppose. I mean they have been playing real well this season. I guess we can wait two more weeks when we o longer have a wining record.

 

[pittpnthrs]

It sends a message that the fans are disconnected from reality if you are brown bagging a team with a winning record. You'll look like fools, but go right ahead. It's your right to do as you wish.

In a couple games they won't have a winning record. Will it be ok then?

 

[TheLegendOfBoom]

Is this true? I just read and article where Phil Knight keeps attempting to buy the Blazers. In that article she stated that neither franchise was for sale. Maybe she has changed her mind since then, one can only hope.

The Paul Allen estate says they are to be sold but I guess there’s no time frame…

Seahawks, Trail Blazers remain not for sale, nearly five years after Paul Allen's passing

The Seattle Seahawks and Portland Trail Blazers, sports teams owned by the estate of the late Paul Allen, eventually will be sold.

www.nbcsports.com

 

[RolandDeschain]

Oh for the love of god

Paper bags on the heads of fans is arguably more logical of a decision than your continued repping of Geno in your forum avatar and banner.

 

[cymatica]

It sends a message that the fans are disconnected from reality if you are brown bagging a team with a winning record. You'll look like fools, but go right ahead. It's your right to do as you wish.

Thinking this team is going anywhere with this coaching staff is the greatest disconnect from reality

 

[CallMeADawg]

Thinking this team is going anywhere with this coaching staff is the greatest disconnect from reality

That's not what I said. You guys are a bit over the top today. Chill out.

 

[Maelstrom787]

Paper bags on the heads of fans is arguably more logical of a decision than your continued repping of Geno in your forum avatar and banner.

Whew, brutally hormonal scene today at .NET, isn't it? Can't be a fan of your own starting quarterback?

By all means, paper bag it up. It's a testament to the lack of self-awareness in the fanbase currently, who can't seem to separate their current anger from Browns-like shame.