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Thread: 2013 Bengals Discussion

  1. #316
    Who wants a mustache ride Ohayou's Avatar
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    Re: 2013 Bengals Discussion

    Looks like the Bengals are really going to sign Harrison.
    Choo got it, dude.

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  3. #317
    BobC, get a legit F.O.! Mario-Rijo's Avatar
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    Quote Originally Posted by Ohayou View Post
    Looks like the Bengals are really going to sign Harrison.
    Ugh!

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  4. #318
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    Re: 2013 Bengals Discussion

    I'd rather have Dansby+rookie than Maualuga+Harrison. I'm guessing the money those two combos will get will end up being a wash.

  5. #319
    Kmac5 KoryMac5's Avatar
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    Re: 2013 Bengals Discussion

    If it is a one yr deal I think it is a great catch for the Bengals. Harrison is going to want to due bodily harm to Big Ben twice a yr, what is there not to like about that. Hopefully they can get a deal done with Rhodes as well as safety is a major concern at this point.

    Smith basically has ten days to get his deal done as well cause if we get to the draft it will be come on down Fluker or Watson with that #1 pick.
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  6. #320
    Pre-tty, pre-tty good!! MWM's Avatar
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    Re: 2013 Bengals Discussion

    Ugh! There's VERY few players I dislike enough to not want them playing for the Bengals under any circumstances. Harrison is one of them.
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  7. #321
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    Re: 2013 Bengals Discussion

    I would of rather had Dansby but Harrison is still a productive player and maybe we could use his nastiness. I also really want Rhodes.
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  8. #322
    Member Sea Ray's Avatar
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    Re: 2013 Bengals Discussion

    Quote Originally Posted by Yachtzee View Post
    Don't know. It may not pass directly to Katie depending on what kind of estate taxes would be incurred by doing so, possibly up to 40% of the value of the team. Paul Brown avoided it by working out a deal to sell the team to another investor on the condition that Mike could buy those shares back after a certain amount of time passed after Paul's death.
    It's my understanding that they're in the process of transfering the team to Katie and her brother and if it's not complete already, it will be soon. In other words, the plan is for this to be done well before Mike's passing. As I recall, Katie will be the controling partner. It'll be her team. They are prepared for the estate tax aspect of it. That's why they're doing the transfer now.

  9. #323
    GR8NESS WMR's Avatar
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    Re: 2013 Bengals Discussion

    I wonder what sort of estate tax you pay on an asset like that?
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  10. #324
    Waitin til next year bucksfan2's Avatar
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    Re: 2013 Bengals Discussion

    Quote Originally Posted by WMR View Post
    I wonder what sort of estate tax you pay on an asset like that?
    I believe it is rather simple. You take the value at the time of death and then apply the estate tax. The estate tax is permanently set at $5M adjusted for inflation. So for whatever the value of the franchise is at the time of death minus $5M and then you pay estate taxes on the difference.

    @SeaRay the transfer would have to take place over a long period of time. There may be other ways of transferring money that I do not know if, but according to the IRS you are allowed to gift someone $14000 or $28000 if you are married free of tax. In August of 2012 Forbes valued the Bengals at $871M. That would take a long time in regards of gifting in order to get Pumpkin the controlling stake.

  11. #325
    Member Sea Ray's Avatar
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    Re: 2013 Bengals Discussion

    Quote Originally Posted by bucksfan2 View Post
    I believe it is rather simple. You take the value at the time of death and then apply the estate tax. The estate tax is permanently set at $5M adjusted for inflation. So for whatever the value of the franchise is at the time of death minus $5M and then you pay estate taxes on the difference.

    @SeaRay the transfer would have to take place over a long period of time. There may be other ways of transferring money that I do not know if, but according to the IRS you are allowed to gift someone $14000 or $28000 if you are married free of tax. In August of 2012 Forbes valued the Bengals at $871M. That would take a long time in regards of gifting in order to get Pumpkin the controlling stake.
    As I recall this was going on before Marvin got to town and was one of the reasons the Bengals were so cheap. They were pocketing a lot of that money and using it for Katie to buy shares from her Dad. Obviously the value of the shares were set lower than free market value. My point is, this franchise will not run into the problem that the estate of Jack Kent Cooke where they had to sell to Dan Snyder. MB knows how to play this game and he's already beaten the IRS once

  12. #326
    Member medford's Avatar
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    Re: 2013 Bengals Discussion

    Perhaps a simple way to transfer shares while dealing with the IRS, as part of Katie's compensation for whatever role she holds, she gets a certain % share in the team each season, then on top of that, she's paid a salary that offsets the taxes more or less. Meanwhile, Katie's husband is paid a straight salary that keeps both of them whatever style they see fit.

  13. #327
    You're being very UnDude. sonny's Avatar
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    Well, whenever she gets it, I hope she's not a jerk face.
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  14. #328
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    Re: 2013 Bengals Discussion

    Quote Originally Posted by sonny View Post
    Well, whenever she gets it, I hope she's not a jerk face.
    On a related note, that could settle the age old question of whether "jerk face" is a result of nature or nurture.
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  15. #329
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    Re: 2013 Bengals Discussion

    I think the biggest positive is that Katie knows she isn't a football personnel person. Mike's spendthrift ways has always held the Bengals back to some degree, but his meddling in personnel decisions is what has crippled the franchise.

  16. #330
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    Re: 2013 Bengals Discussion

    Quote Originally Posted by RiverRat13 View Post
    I think the biggest positive is that Katie knows she isn't a football personnel person. Mike's spendthrift ways has always held the Bengals back to some degree, but his meddling in personnel decisions is what has crippled the franchise.
    Careful underestimating Katie's role. If I understand things correctly she is the person negotiating contracts.
    The Sox traded Bullfrog the only player they've got for Shottenhoffen. Four-eyes Shottenhoffen a utility infielder. They've got a whole team of utility infielders.


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