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-02-12-2010 #16
Re: Proposed Rams buyer has had IRS issues
I would be shocked and amazed if the other owners even batted an eye at it. I'm sure they'll have access to Goldman-Sachs research on the guy, Chip/Lucia's thoughts on the guy, and talking to Khan himself.
For normal blue/white collar Joe's (and Jane's...that's for you Utter) like all of us, there is a 0.97% chance of being audited. For folks like Khan (billionaires, that is) that number moves up closer to 25%. So like I said earlier, in a room of NFL owners, sure law of averages moves the probable number of owners probed by the IRS up to 8 or so for any given year. And that's just for the current year; add in that most of these owners have had their teams for a long time, I'd bet that upwards of 30 owners, if not all of them have had their finances probed by the IRS.
Over the past decade or so, there have been a lot of off-shore tax shelters set up by some of the Big time Accounting firms have been getting torn asunder. It doesn't surprise me at all that a guy like Khan got caught up in it.
I wasn't joking earlier when I said this might make the process easier. It gives him something in common with what is probably a large number of other owners.
"Before the gates of excellence the high gods have placed sweat; long is the road thereto and rough and steep at first; but when the heights are reached, then there is ease, though grievously hard in the winning." --- Hesiod
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-02-12-2010 #17
Re: Proposed Rams buyer has had IRS issues
If he is excluded from buying the Rams because he has IRS problems it's obviously bad news. The good news for Khan would be that he is now completely qualified to be Treasury Secretary of the United States.
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-02-12-2010 #18
Re: Proposed Rams buyer has had IRS issues
I bet every single one of the owners has had IRS issues. Comes with the territory.
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-02-12-2010 #19
Re: Proposed Rams buyer has had IRS issues
I have no tax issues, but Goodell might have a problem with me purchasing the team. You see I want to move them to LA. So far I saved up $324.96 and have took in a total of $.36 in donations for the "Rams come back to LA Fund." It is good to know I have till March to gather the needed $749,999,675. Keep your fingers crossed for me LA I'm on a mission!
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-02-12-2010 #20
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