Bankrupcy Court Approves Cubs 'Transfer', Zell's Tax Dodge
As part of the transaction, the Cubs are expected to file for bankruptcy on October 12 to shed any obligations to Tribune.
The complicated deal is designed to be recognized as a disregarded transaction for tax purposes, potentially allowing the Tribune to avoid paying tax on the gain in value of the team.
The Washington Post reported that a leading tax specialist expects federal authorities to challenge the deal's status.
10 months ago
The Deputy Mayor of Rush Street
3 comments
0 recs |
Email
PrintComments
Thank God Shawon Dunston..
withdrew his objections, and gave his blessing to this deal.
by The Deputy Mayor of Rush Street on Sep 24, 2009 12:02 PM CDT reply actions
The Tax thing is mentioned here
http://www.bleedcubbieblue.com/2009/9/22/1050457/cubs-sale-could-attract-irs
See the Cubs 2010 schedule at http://cubsbythenumbers.com/sched2010.html
Also see what old Cubs Scorecards looked like at http://cubsbythenumbers.com/scorecards.html
I'm not at all surprised that the deal was approved.
No doubt, all these “roadblocks” were carefully considered by the parties BEFORE they became an issue.
"You can observe a lot just by watching." ~ Yogi Berra
Comments For This Post Are Closed
Secondary Sidebar
User Tools
FanPosts
Community blog posts and discussion.
Recommended FanPosts
Recent FanPosts
FanShots
Quick hits of video, photos, quotes, chats, links and lists that you find around the web.
Recommended FanShots
Recent FanShots
Cubs By The Numbers
Cubs By The Numbers is a history of the ballclub by uniform number, but the biographies help trace the history of our beloved team in a new way. For everyone who's a Cubs fan, anyone who ever wore the uniform is like family. Cubs By The Numbers reintroduces readers to some of their long-lost ancestors, even ones they think they already know.
Click here to order your copy, available now!
Certain photos copyright © 2010 by Associated Press or Getty Images. Any commercial use or distribution without the express written consent of Associated Press and Getty Images is strictly prohibited.
