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for those ? Brown's ownership transfer....

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6 months ago via 247Sports Mobile

I have done similar transactions in the past....
Probably would be a separate deal with Haslam's and Gruden in which Gruden would get maybe 1% or 2% ownership in Browns in exhange for "consultative services" or something similar.
It would be taxable to Gruden as income. So if the Browns were worth 1billion and Gruden got 1% of team, that would be worth 10 million and he would need to recognize 10 million in income the year it is transferred....
Not uncommon in corporate deals at all. Uncommon in college coaching but could be used to get Gruden off his endorsement deals with Hooters et al....
orangetex
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6 months ago

orangetex said...
I have done similar transactions in the past....
Probably would be a separate deal with Haslam's and Gruden in which Gruden would get maybe 1% or 2% ownership in Browns in exhange for "consultative services" or something similar.
It would be taxable to Gruden as income. So if the Browns were worth 1billion and Gruden got 1% of team, that would be worth 10 million and he would need to recognize 10 million in income the year it is transferred....
Not uncommon in corporate by Giant Savings" href="#" in_rurl="http://i.trkjmp.com/click?v=VVM6MjE4NTI6MTE0MDpkZWFsczo3MWM0OTEwYzA5ZTgxYWI0Y2Q2MmNiYjlhNTQ0YjUxODp6LTEyNDItODQ3MDY6dGVubmVzc2VlLjI0N3Nwb3J0cy5jb206MTAyNDg6YWYzMTlkNGNiY2Q2NGE5MjMyYWY5MjFmYTBmMzFhZGY">deals at all. Uncommon in college coaching but could be used to get Gruden off his endorsement deals with Hooters et al....

sounds about right..i think your hypothetical is a bit unrealistic though. The Browns are never going to be worth a BILLION dollars..
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6 months ago via 247Sports Mobile

orangetex said...
I have done similar transactions in the past....
Probably would be a separate deal with Haslam's and Gruden in which Gruden would get maybe 1% or 2% ownership in Browns in exhange for "consultative services" or something similar.
It would be taxable to Gruden as income. So if the Browns were worth 1billion and Gruden got 1% of team, that would be worth 10 million and he would need to recognize 10 million in income the year it is transferred....
Not uncommon in corporate deals at all. Uncommon in college coaching but could be used to get Gruden off his endorsement deals with Hooters et al....

Old law school buddy of Dooley's?
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6 months ago

orangetex said...
I have done similar transactions in the past....
Probably would be a separate deal with Haslam's and Gruden in which Gruden would get maybe 1% or 2% ownership in Browns in exhange for "consultative services" or something similar.
It would be taxable to Gruden as income. So if the Browns were worth 1billion and Gruden got 1% of team, that would be worth 10 million and he would need to recognize 10 million in income the year it is transferred....
Not uncommon in corporate deals at all. Uncommon in college coaching but could be used to get Gruden off his endorsement deals with Hooters et al....

actually orangetex, you are about dead on..Browns are valued at 970 million according to Forbes.. So even 1% ownership would be a sweet deal for Gruden.. Things that make you go hmmmm...
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6 months ago via 247Sports Mobile

frostyvol said...
sounds about right..i think your hypothetical is a bit unrealistic though. The Browns are never going to be worth a BILLION dollars..

They are right now...
UT Alum 2005. Season Ticket Holder. Bleed Orange. Go VOLS!
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6 months ago Premium Post
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I'll hang up and listen.
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6 months ago via 247Sports Mobile Premium Post
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6 months ago via 247Sports Mobile Premium Post
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6 months ago via 247Sports Mobile

No idea, but the Browns ownership thing isn't against NCAA? A college coach as a part owner of an NFL club seems like it would violate something?
follow me on twitter: WESinTN
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6 months ago

WESinTN said...
No idea, but the Browns ownership thing isn't against NCAA? A college coach as a part owner of an NFL club seems like it would violate something?

I am with you. I don't understand how someone with an ownership stake in the NFL could be allowed to coach at the NCAA level.
What would stop the Lions from giving coaches ownership stakes to get better access to players? Just seems like a huge can of worms to me.
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6 months ago via 247Sports Mobile

http://wreg.com/2012/11/27/news-channel-3-learns-of-tennessees-new-twist-to-lure-gruden/
Still clueless runthroughtheT?
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6 months ago

orangetex said...
I have done similar transactions in the past....
Probably would be a separate deal with Haslam's and Gruden in which Gruden would get maybe 1% or 2% ownership in Browns in exhange for "consultative services" or something similar.
It would be taxable to Gruden as income. So if the Browns were worth 1billion and Gruden got 1% of team, that would be worth 10 million and he would need to recognize 10 million in income the year it is transferred....
Not uncommon in corporate deals at all. Uncommon in college coaching but could be used to get Gruden off his endorsement deals with Hooters et al....

You are correct. You might consider that Gruden and his attorneys might alos require that should the appraised value of the Brown's decline that the value at the close of the deal is guaranteed.
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6 months ago

orangetex said...
I have done similar transactions in the past....
Probably would be a separate deal with Haslam's and Gruden in which Gruden would get maybe 1% or 2% ownership in Browns in exhange for "consultative services" or something similar.
It would be taxable to Gruden as income. So if the Browns were worth 1billion and Gruden got 1% of team, that would be worth 10 million and he would need to recognize 10 million in income the year it is transferred....
Not uncommon in corporate deals at all. Uncommon in college coaching but could be used to get Gruden off his endorsement deals with Hooters et al....

Yes - but in these types of consulting relationships there has to be services rendered of a value at least close to what is given in compensation; otherwise, the excess compensation will be deemed a gift subject to the federal gift tax. Assuming the Haslams have all used up their gift tax exemptions ($5,120,000 per person this year), they could be looking at a steep gift tax if the transaction were examined by the IRS. I cannot imagine the Gruden would be performing services anywhere close in value to his ownership interest. Perhaps you could structure any excess compensation as a charitable contribution from the Haslems to UT, who is then deemed to pay it to Gruden, but that is a risky also.
The whole thing is way too complicated in my opinion to have a remote chance of reality.
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