Irsay collection

[Puck]

Originally Posted by YDFL Commish

I think the girls are selling to re-invest everything in the Colts. Well, at least that's my hope.

I agree. Some of these signing bonuses and contract stuff require liquid cash on reserve IIRC.

ONe of the cap gurus on here can correct me if I am wrong

[AlwaysSunnyinIndy]

Originally Posted by Puck

I agree. Some of these signing bonuses and contract stuff require liquid cash on reserve IIRC.

ONe of the cap gurus on here can correct me if I am wrong

I'd say the bigger reason to maximize cash on hand is to prepare for paying the estate taxes from inheriting the team.


And this collection was Jim's hobby / passion project - not his daughters...and there are 3 of them. So it is a lot easier to sell most of the collection for cash and split the cash three ways instead of trying to divide up the collection equally into thirds.

[Dam8610]

Originally Posted by Puck

I agree. Some of these signing bonuses and contract stuff require liquid cash on reserve IIRC.

ONe of the cap gurus on here can correct me if I am wrong

Teams are required to pay signing bonuses immediately upon execution of a contract with a player. All fully guaranteed salary a team agrees to put in a player's contract is required to be placed in escrow upon execution of the contract.

[YDFL Commish]

The Irsay Collection $93 million at auction. I doubt the sold everything. But, this will or should benefit the Colts.

[apballin]

Originally Posted by YDFL Commish

The Irsay Collection $93 million at auction. I doubt the sold everything. But, this will or should benefit the Colts.

Seems like a hell of a bargain for all the stuff he had there