03-06-2025, 04:49 PM
(03-06-2025, 11:08 AM)THE PISTONS Wrote: Yes. Likely. But, there will be a tax bill that needs paid.
So what kind of estate tax would someone owe? Well, it depends on who passes away and who owns what shares and how things are setup and maybe more factors. Without being able to see the succession plan, it's impossible to say.
The NFL franchise values in billions sound great, until you consider that taxes paid in this situation are based upon them.
I asked ChatGPT and basically it says that you could pay up to 40% of the value of the franchise...which is $4.5 to $5 billion. (That's likely worst case scenario as a team wouldn't have 1 owner, but ownership split.) But, the tax bill could still be hundreds of millions of dollars.
Is that the same ChatGPT that makes up fake citations for legal briefs filed with the court? Or that provided the wrong answer when i posted a grammar question, while giving a detailed explanation of why it was right, and then it took me 10 subsequent questions where it ended up contracting itself and then finally admitted it had been wrong (remarkably it stated, "I lied") . No one should ever cite ChatGPT or accept it's answers prima facie. It often makes up answers to questions. I stop reading when someone cites ChatGPT, though it's good that they cited the source.
