An Interesting Nugget About the Oakland Athletics' Relocation to Las Vegas
Earlier this week, the owners in Major League Baseball approved the Oakland Athletics' relocation to Las Vegas, which will happen in time for the 2028 season.
A's owner John Fisher is behind the desire to move and has become public enemy No. 1 in Oakland.
Bob Nightengale of USA Today reports that there is an interesting caveat to the whole thing:
MLB gave Fisher about a $300 million break by not charging him a relocation fee, but if he turns around and tries to sell the team, he’s going to have to pay a stiff penalty.
The agreement, an executive told USA TODAY Sports, requires Fisher to retain the team until at least 2028 when they are scheduled to open in Las Vegas.
If Fisher sells before 2028, he will be taxed 20% of the purchase price, which will be split among owners.
If Fisher sells in 2029, he will be taxed 10%.
If he sells in 2030-2033, he will be taxed a decreasing amount each year.
He will be unable to sell the team without being taxed until 2034.
So if Fisher was thinking about pulling a fast one, there will be a price to pay.
A's fans in Oakland probably don't care about this, because at the end of the day, they are losing their team and are not happy. The fans who will follow the team to Vegas may not care, either, but some people will probably be unhappy to see that Fisher has to remain involved for close to the next decade.
While nobody likely wants to see him benefit from a quick sale, some would be happy to see him gone entirely.
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