If you have any doubt that a potential Obama Presidency is having an effect, consider (from the Palm Beach Post):
MIAMI GARDENS — By the end of the year, an NFL source said Sunday, Dolphins co-owner Wayne Huizenga would like to sell all but a small percentage of the team to real estate mogul Stephen M. Ross, who already owns the club and stadium 50-50 with Huizenga.
But Ross might not have the funds available to make the deal, the source said.
Huizenga wants to sell Ross another 45 percent of the team by Dec. 30, the source told The Palm Beach Post. Huizenga is believed to be motivated by his belief that Barack Obama will win the presidency and help implement tax policies that would take a bigger chunk of Huizenga’s revenues from a sale.
The NFL agreed Tuesday to let Huizenga sell up to 45 percent more of the team to Ross – but only to Ross, the source said. Because of the economic downturn, Ross – whose current share is worth more than $500 million – might not have the cash to buy almost all of Huizenga’s stake, the source said.
The Related Companies and The Related Group, owned by Ross, recently put two major construction projects on hold.
Ross and Huizenga declined to comment, a team spokesman said.
How much of the selling this year has been an attempt to avoid future higher capital gains taxes? There is no way to know, but there has certainly been some. One thing I feel comfortable saying; Obama will not be able to raise tax revenues with a higher capital gains tax. First, you need capital gains and second you need them to be realized.