yaaay, Jody Allen is making money off a really bad Blazers team. That deserves a Front Office pizza party indeed
This is pretty funny. We all know she would make much much more money off a great team or at least the trust would. Yay pizza for everybody!
order a blow up castle for the party. Offering up Josh Hart as a bad NBA contract, is giving the Blazers GM a big squishy safe landing area.
If the team were great wouldn't there be more interest in purchasing it? She gets nothing when they sell. So she'd lose the tens (hundreds?) of millions per year she's currently earning to run the team...
That certainly seems to be looking like the case at this point. She certainly doesn't seem to be in any kind of hurry to sell either the Blazers or Seahawks. Notice both franchises are nowhere near winning a title.
we've heard plenty of rumors about JA making a fortune each year from the fee to be the executor. And lots of rumors about her slow-walking the liquidation of estate assets and giving the proceeds to charity. Obviously, since she earns an annual fee from estate asset value any sale of asset reduces her fee IIRC, there is a codicil in PA's will that says the proceeds from the sale of the Blazers and Seahawks have to be directly deposited into PA's favorite charities anyway, I've read the 2-5% general fee rate in several articles. Split the difference and say her fee is 3.5%. Last year the Seahawks were 'valued' at 5B and the Blazers were valued at 3B. So, around 8B total. That could mean that JA 'earns' about 280M/year for the title of executor of the two teams. And over 100M for 'running' the Blazers. If PA's estate is still valued around 20B, she could be making 700M/year it's likely one of the greatest gravy trains in history. Her + Bert Kolde sitting on top of the pyramid is a disaster for Blazer fans
Have we heard any of these "plenty of rumors" outside of Canzano, and those just using his story as the basis for theirs?
Just read Paul's will. There is compensation for Jody, including exspenses. The compensation terms are vague, using words such as reasonable, but tied to the value of the estate. After Jody, others are listed. Nancy Peretsman, managing director of Pauls investment co. Allen Isreal and Nicholas Saggese. I believe they are attorneys.
again...do you think she gets a fee as executor? Is the fee based upon the value of the estate? OF has a post directly above that says she gets a fee and it's based upon the value of the estate. The 'standard' fee in Washington appears to be an annual fee in the 2-5% range of estate value. Jody is PA's sister and they appeared to be pretty close so it would make sense he'd take care of her...which may very well explain why there was such a long time frame allowed for liquidation of the estate even if the fee was as low as 1%, a 200M/year fee for JA would be pretty strong incentive to slow-walk the settling of the estate. And 30-100M/year seems like strong incentive to hold onto the Blazers as long as possible. She's 65; maybe she still wants to be collecting that fee when she's 80. I sure would
You're putting words in my mouth. I didn't say I don't think she gets a fee. I simply asked, You said multiple rumors. You've now avoided showing those multiple rumors twice, instead asking a question in answer. I assume typing "According to Canzano" didn't have quite the same feel to lead off a post as "multiple rumors"
I'm not really curious about how many rumors exist separate from Canzano's place in the rumor flow chart. Google it yourself. And I don't care about you trying to gotcha! my post on some semantic deep dive based on my phrasing how about this: JA is the executor; logically, she is getting a fee as executor based upon estate value, and OF says that is actually specified in the will; logically that creates incentive to slow-walk the dissolution of the estate since the time-frame appears to be fluid. And logically, the Blazers fit into that equation.
The degree to which Canzano is a source of irritation, might elevate it to multiple source territory…
PA's will is on line, google it. For the large size of the estate, the will is very short, and easy to understand.
