Wall Street Journal article on how the estate tax may force the Rooney’s to sell the Steelers (not to mention other family owned sports teams, newspapers, and even Anheuser Busch).
In related news, Allegheny County may ask for the taxpayer money used to build Heinz Field ($281 million) back. County controller Mark Flaherty noted that the stadium investment significantly increased the value of the team – i.e. it went to the the owners’ back pockets. (HT Grassroots PA)
Lessons? How about end the death tax and stop subsidizing stadiums.