REPORT: HUIZENGA WILL SELL DOLPHINS TO ROSS THIS YEAR
Posted by Michael David Smith on October 19, 2008, 11:08 a.m. EDT
Dolphins managing partner Wayne Huizenga will finalize his sale of the team to co-owner Stephen Ross by the end of the year, Chris Mortensen of
ESPN reports.
Huizenga sold part of the team to Ross early this year, and they’ve agreed that Ross will buy out Huizenga in the future.
NFL owners
voted unanimously on Tuesday to allow Huizenga to sell Ross up to 45 percent of the Dolphins at any date the two agree on.
Per Mortensen, that date will be December 30. The reason? Huizenga wants to set the date of the sale before the end of 2008 because he believes Barack Obama will be elected president and will implement tax policies that are less favorable to billionaires who sell their businesses.
Ross, meanwhile, is apparently
selling part of the team himself. But he is expected to be the majority owner going forward.
His capital gains tax will go from 15% to 28%