Say what you want about George Steinbrenner, but he was a hell of a businessman. From turning a tiny initial investment in the Yankees into a billion-dollar franchise, to starting his own regional sports network, rarely did the man make a business mistake. The pattern continued even until his death:
By dying in 2010, the billionaire and long-time
New York Yankees owner’s wealth avoids the federal estate tax, likely
saving his heirs enough money to field an entire team of Alex
death Tuesday came during an unplanned year-long gap in the estate tax,
the first since it was enacted in 1916. Political wrangling has
stalemated efforts in Congress to replace the tax that expired in 2009.
Because no one really knows his estate plan or the extent of his holdings, it’s hard to tell how much money he saved by going in 2010, but the back-of-the-envelope calculations in the linked article figure that, at a minumum, Big Stein’s heirs have saved $300 million+ by him passing in 2010 instead of 2009 or 2011.
Suggestion: whatever big free agent the Yankees sign this winter be given the nickname “tax break” or “death tax” or something like that.
The Mets and Braves are playing today and it’s not a great day for the Mets in the injury department.
First they scratched Noah Syndergaard with a “tired arm.” Now they’ve lost Yoenis Cespedes, who pulled up limping at second base following a double in the bottom of the fourth:
The team has announced that he has pulled his left hamstring.
Cespedes, of course, missed three games over the weekend due to hamstring issues. That was merely tightness, however, and following an off day and a rainout, Cespedes played last night without incident. But it now looks as though he’s going to miss some serious time.
For all of the headlines about Derek Jeter and Jeb Bush buying the Miami Marlins, this is looking like anything but a done deal. First is the small matter of the billion and a half bucks Jeter and Jeb need to put together. Then there’s the matter of there being another . . . mystery bidder!
That according to commissioner Rob Manfred who says two groups are still bidding to buy the Marlins. He said this morning at the groundbreaking for the Jackie Robinson Museum, adding “There is no agreement in place. We’re working with more than one group . . . there is not a signed document on any topic.”
Despite this, Manfred said that “the timeline is relatively short; it would be measured in days, not months.” So someone is likely to find that billion and a half bucks soon, I reckon.