Originally Posted by vinny
...on who you ask.
The estate of Carl Pohlad filed a petition with the U.S. Tax Court on Tuesday because the estate disagrees with the IRS as to how much Pohlad's interest in the Twins is worth.
Pohlad owned a non-voting 52.2% interest in MT Sports LLC, which in turn owned a 99% non-voting interest in Minnesota Twins LLC (i.e., the team). Pohlad also owned 95.5% interest (10% of the voting shares and 100% of the non-voting shares) in Twins Sports Inc., which owns 100% of the voting interest in Minnesota Twins LLC. The other 90% of the voting shares in Twins Sports was held by his three sons.
Pohlad's estate valued his entire interest in the team at $24 million. The IRS valued it at close to $300 million.
You're not going to find this online right now unless you have access to Westlaw or something. Maybe Deadspin will pick it up.
Putting that together and actually sorting out who owned what percentage of what and for what purpose is not something my brain is capable of right now. He might have been the only one who knew.