She started out by talking about the arena. New arena?
01-23-2017, 01:37 PM
U-Ute
Jazz ownership going into a trust controlled by the Miller family.
01-26-2017, 04:07 PM
The Thrill
So essentially even if we want them to go away they'll be here forever?
01-26-2017, 04:19 PM
U-Ute
Quote:
Originally Posted by The Thrill
So essentially even if we want them to go away they'll be here forever?
Not necessarily.
I don't think so. It just means that the trust owns the team, so the Miller family won't directly profit if it is sold. I believe if it is sold, the money goes back into the trust.
01-26-2017, 04:33 PM
concerned
Quote:
Originally Posted by U-Ute
Not necessarily.
I don't think so. It just means that the trust owns the team, so the Miller family won't directly profit if it is sold. I believe if it is sold, the money goes back into the trust.
Reading between the lines, I think the Millers did this to avoid the estate tax when Gail Miller dies. They would have had to sell the team to pay the tax is my guess.