Al Davis‘s Estate Could Face Massive Estate Taxes
Oakland Raiders owner, Al Davis, passed away over the weekend. Forbes Magazine published an interesting article by Mike Ozanian, discussing the fact that Al Davis’s estate could face hundreds of millions of dollars in estate taxes, based on an estimated valuation of the Raiders at $761 Million. The article predicts that the Davis family will have to sell its interest in the team in order to pay the taxes.
Although you may not feel too sorry for the family of Al Davis, this story is not uncommon for owners of small family businesses, who are rich on paper, but may not have the cash of other liquid assets with which to pay estate taxes.