Ric Tapia | Getty Images Sport | Getty ImagesSports team owners benefiting from soaring team values are also facing new pressure from two of the oldest certainties in American wealth: death and taxes.
With the average age of team owners rising, and team values skyrocketing into the billions, owners and leagues are increasingly focused on how to ensure smooth ownership transitions to the next generation of buyers.
Succession and taxes have become especially important in the National Football League, where the average age of team owners is now over 72 and team values are all surging.
The average NFL team is now worth $6.49 billion, and no team is valued at less than $5.25 billion, according to CNBC's Official 2024 NFL Team Valuations.
So owners have to be planning for the potential for more punitive estate taxes in the coming years.
Persons:
Ric Tapia, Stephen Amdur, Pillsbury Winthrop Shaw Pittman, Robert Frank, Pat Bowlen, Rob Walton, Bud Adams, Grant Halverson, Amy Adams Strunk, Tom Benson, Gayle, Jonathan Bachman, Joe Robbie, George " Papa Bear, Halas, George Halas, Amdur, That's, Roger Goodell
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NFL, Los Angeles Rams, Houston Texans, NRG, Getty, Sports, Pillsbury, National Football League, Former Denver Broncos, Tennessee Titans, Minnesota Vikings, Getty Images Tennessee Titans, Longtime New Orleans Saints, National Basketball, New Orleans Pelicans, New, New Orleans Saints, Mercedes, Benz, Miami Dolphins, NBA, Chicago Bears, Bettmann
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