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National Post, Why Donald Sterling’s Punishment Could Cost Him More than $100M

Slate, Why the NBA’s Punishment Could Cost Donald Sterling More Than $100 Million

Sports Illustrated, Important Tax Law Considerations: Avoiding Capital Gain Taxes

Vox, The $200 Million Reason Donald Sterling Doesn't Want to Sell the Clippers — Capital Gains Taxes

Washington Post, What Donald Sterling Could Make If He’s Forced to Sell the Clippers

Forbes, How Clipper's Sterling Could (Maybe) Avoid a Tax Bill Today:

1 posted on 05/01/2014 2:25:40 PM PDT by Responsibility2nd
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To: Responsibility2nd

100 Million? 200 Million?

The SI article suggests a much higher amount...

For instance, if he sold the Clippers today for $1 billion, Sterling would pay capital gain taxes of 33 percent on a gain of $987.5 million. As a result, Sterling would owe Federal & state capital gain taxes of approximately $329 million.

Read More: http://sportsillustrated.cnn.com/nba/news/20140429/donald-sterling-nba-adam-silver-clippers-lawsuit-lifetime-ban/#ixzz30VAV4ilQ


2 posted on 05/01/2014 2:27:28 PM PDT by Responsibility2nd (NO LIBS. This Means Liberals and (L)libertarians! Same Thing. NO LIBS!!)
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To: Responsibility2nd

Be kinda funny if Clippers won the title...


11 posted on 05/01/2014 3:34:10 PM PDT by karnage
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To: Responsibility2nd

On FOX they were saying that any forced sale would be difficult since in California the wife owns 50%. On HLN they were screaming about banning the entire family from basketball and calling him a monster. It was kind of funny for a while to watch the hysterical talking heads rave on HLN but soon it became boring.


13 posted on 05/01/2014 3:45:20 PM PDT by apocalypto
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To: Responsibility2nd
No taxes if he transfers his interest in the team to his wife.

Spouses can make unlimited gifts to each other.

How could the NBA prohibit her from owning the team? It'd be war on women.

21 posted on 05/01/2014 4:39:07 PM PDT by MUDDOG
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To: Responsibility2nd

I think the NBA will have trouble with the wife. The wife should have Donald declared incompetent and take control of the team.


30 posted on 05/01/2014 6:26:27 PM PDT by Mike Darancette (Do The Math)
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