Want to buy a professional sports team -- or maybe part of one? Michael Ozanian at Forbes.com suggests that teams might see a change in ownership or investors this year. Why? The Tax Code of course. As an example, Ozanian discusses the St. Louis Blues:
To understand why Towerbrook [Capital Partners], which owns about 75% of the Blues, wants to divest its stake consider what Uncle Sam is planning. The tax rate on capital gains is going to go from 15% to 20 next year (23.8% when Obamacare is factored in) and private equity funds are going to lose their low tax rate on carried interest. It is highly unlikely that the Blues could appreciate in value at a high enough rate over the next few years to compensate for the bigger tax burden. Look for investors in other pro teams to cash out for the same reason before the year is out.
So, if you have some extra cash lying around and always wanted to try and be a big league owner this year might just be your year thanks to the Tax Code.