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SOLD Miami Dolphin team

Discussion in 'NFL Football Forum' started by NEPatriot, Oct 28, 2008.

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  1. NEPatriot

    NEPatriot Banned

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    The sale of the Miami Dolphins has been approved, but the owner hopes to expedite the transfer, saying he doesn't want to pay more capital gains taxes under an Obama administration.

    FOXNews.com


    H. Wayne Huizenga has been eyeing more than players' stats this season. As national polls swing further into the blue, the Miami Dolphins owner is saying he'd rather sell his team now than later, after Barack Obama is inaugurated.
    "He wants to double the capital-gains tax, or almost double it," Huizenga told the Sun-Sentinel in Fort Lauderdale. "I'd rather give it to charity than to him.”
    Huizenga is set to sell up to 45 percent of the team to Stephen Ross, who already purchased 50 percent of the team and Dolphin Stadium for $550 million earlier this year. NFL owners approved the transfer this month so it can take place any time.
    "If you do it this year or you do it next year, the difference is humongous because of the taxes," Huizenga said.
    The Obama camp said Huizenga's numbers are all wrong, explaining to the newspaper that the capital gains tax would only go up from 15 percent to 20 percent, a 33 percent increase, not a doubling of the tax.
     
  2. TheComeback

    TheComeback 2nd Team Getting Their First Start

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    No wonder the Dolphins have been so bad. This guy is going to sell an NFL team because of a 5 percent tax increase? Not to mention that raising taxes requires an act of Congress, so nothing is going to happen right away just because Obama is elected.

    Amazing that even millionaire businessmen can't keep themselves properly informed.
     
  3. KontradictioN

    KontradictioN Do you even lift? PatsFans.com Supporter

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    No Jersey Selected

    Considering the complexion of his face, I would have thought he would sell the team to either Clearasil or NASA.
     
  4. Rob0729

    Rob0729 PatsFans.com Supporter PatsFans.com Supporter

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    In fairness to Huizenga, he already sold near half of the team because of money issues. Also, he may be right in doing it because of the capital gains tax increase that is likely to come if Obama wins and the Democrats wins enough of the Senate to block fillabusters. It seems like this tax is likely to happen and Huizenga may have a buyer now. Huizenga shouldn't wait until the tax becomes more of a reality if he is honestly scared of the increased tax.

    Not going to try to turn this into a political discussion on whether I agree with him or not, but buyers with hundreds of millions of dollars to spend don't come around every day.
     
    Last edited: Oct 28, 2008
  5. Deus Irae

    Deus Irae PatsFans.com Retired Jersey Club PatsFans.com Supporter

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    Yes, it's all a mistake by the millionaire, because Democrats have never done anything like passing tax hikes and making them retroactive...
     
  6. vyrago

    vyrago 2nd Team Getting Their First Start

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  7. patchick

    patchick Moderatrix Staff Member PatsFans.com Supporter

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    #11 Jersey

    I can't imagine he actually believes it. He's simply doing his best for the Republican party by making headlines in all-important Florida with his exaggerated claims. Quite clever, really.
     
  8. lostjumper

    lostjumper Third String But Playing on Special Teams

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    Are you really that uninformed?

    Besides, Obama's camp admits the plan to raise the capital gains tax as soon as he gets into office, just not as much as Wayne thinks.(Obama will make that up in other taxes)
     
    Last edited: Oct 28, 2008
  9. Terry Glenn is a cowgirl

    Terry Glenn is a cowgirl Banned

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    here we go with the Hegelian Dialectic...

    Closely watch the middle of my sig file for a more indepth meaning.
     
  10. JoeSixPat

    JoeSixPat Veteran Starter w/Big Long Term Deal

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    So I take it this means my offer of $5 was rejected?

    What a classless organization. I have to find out reading about it in the press? They didn't even have the decency to respond personally?
     
  11. patchick

    patchick Moderatrix Staff Member PatsFans.com Supporter

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    #11 Jersey

    Of course not. I'm not saying Obama won't raise the capital gains tax. I'm not even saying which side I support. I'm simply saying that this particular comment was a transparent attempt to leverage media coverage of the Dolphins for partisan political purposes. Do you honestly disagree?
     
  12. lostjumper

    lostjumper Third String But Playing on Special Teams

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    Yes, entirely. He realizes that if he doesn't sell his remaining shares of the Dolphins off by April or so, he will be out 5%-10%. On 500 million thats 25 to 50 million dollars from the sale going directly to the government. Don't you think thats would be the motivation to sell the team? I sure would.
     
  13. patchick

    patchick Moderatrix Staff Member PatsFans.com Supporter

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    #11 Jersey

    But I didn't say anything about his motivation to sell the team. I was talking about his motivation in making this high-profile press statement -- about a prominent Republican party fundraiser cannily making use of a football-based press platform to make a partisan political speech directed toward the citizens of a critical battleground state.

    Huizenga is deeply involved in politics. Is there really any doubt that his intended audience was voters, rather than the league sources whom he'd be much better off lobbying privately? (In fact, if a significant number of freshly pissed-off Democrats have a say in the speed of the transaction, this could turn out to be an act of principled self-sacrifice for Huizenga: giving a boost to his presidential candidate while slowing the progress of his business deal to a crawl.)
     
  14. Patsfanin Philly

    Patsfanin Philly Experienced Starter w/First Big Contract

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    #95 Jersey

    Like millionaires got that way by being stupid and not having CPAs and lawyers advising them. The difference in that "5%" tax increase is about $20 million and will go higher if the tax rate on capital gains is placed at over 20%
    Boca Raton, Florida FL - Miami Dolphins News | Wayne Huizenga To Sell Dolphins | South Florida Housing Market | Florida Gun Laws 2008.
     
  15. lostjumper

    lostjumper Third String But Playing on Special Teams

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    Wow, you are really reading into this. I cannot find where Huizenga made a press statement about this. If you can, please provide a link. In fact, the site that I read this atBoca Raton, Florida FL - Miami Dolphins News | Wayne Huizenga To Sell Dolphins | South Florida Housing Market | Florida Gun Laws 2008 (I could not find it on foxnews.com) never had a quote from Huizenga. I cannot find anywhere where he talks about this. The story is from other people who are reporting this, not Huezinga. So he is not publicizing this for political gain.
    Instead other people are reporting that Huezinga has come to this conclusion; If Obama becomes president, his Marxist and socialist ideology will cost him money, so he is liquidating assets before he can be taxed on the sale of the assets. You are the one who injected politics into the issue.
     
  16. MoLewisrocks

    MoLewisrocks PatsFans.com Supporter PatsFans.com Supporter

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    And at the end of the day what does it all mean other than yet another owner lied to...Tuna. LOL Who signed on based on Wayne's promise that he would not sell the team during the term of Parcell's contract...:rofl:
     
  17. NovaScotiaPatsFan

    NovaScotiaPatsFan In the Starting Line-Up

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    I really hope one day the Human Race evolves past Conservatism.

    And I hope I'm alive to see it.
     
  18. patchick

    patchick Moderatrix Staff Member PatsFans.com Supporter

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    #11 Jersey

    Happy to:
    Huizenga aim: Sell at '07 capital-gains tax level -- South Florida Sun-Sentinel.com

    Huizenga made the statements to a Florida newspaper sports reporter.

    My problem with this from the beginning had nothing to do with taxes or Obama. It had to do with hijacking a sports platform to make a partisan political pitch. I have to believe that Huizenga, an extremely well-informed businessman who is deeply involved with politics at a high level...

    - DOES believe Obama will raise the capital gains tax rate

    - does NOT believe Obama will double that rate or even come close, as he stated

    - does NOT believe that the other NFL owners will fall for that exaggeration

    - does NOT believe that making a politically charged whine to a reporter is a good way to persuade the NFL to expedite his business transaction

    Therefore, I assume that the real point of these public statements was to take advantage of his position in the sports news to plant a political idea in the minds of Florida voters.

    FWIW, I would also be irritated to see a postgame news conference like this:

    Reporter: Can you tell us about that amazing game-changing touchdown?

    Player: Sure. As I saw the ball in the air, I thought "This one's for Barack Obama. Because our team has been heading in the wrong direction, and this catch would represent real change and real hope for the future, just like an Obama presidency. And I know that George McCain, or is it John Bush, has said that he wants a freeze on everything but defense, which means he doesn't care about all of us millions of hardworking Americans who toil every day on the offensive side of the ball."
     
  19. ALP

    ALP Veteran Starter w/Big Long Term Deal

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    "I'd rather give it to charity than to him.”


    Owww, well, with that quote i know all i ever needed to know aobut huizenga...


    also, someone should let him know that the tax money will be going to the country, not to Obama...just in case he doesnt know
     
  20. PatsWickedPissah

    PatsWickedPissah PatsFans.com Supporter PatsFans.com Supporter

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    Were cap gains to go from 15% to 20% (less than some statements by the candidate that talked about 30%) that would be a 33% increase to the taxpayer, not 5%.

    Basic math is a wonderfull skill.
     
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