迈克尔·杰克逊和. 肯尼·皮科特

这是我长期以来的两个兴趣爱好, 体育, 和音乐, 最近和我的职业经历发生了冲突.

As a little background, I have been a 体育 fan for as long as I can remember. 棒球, 足球, 曲棍球, 篮球, 足球——专业, 无论是大学还是业余,我都跟踪过他们. 至于音乐, 我是在那里长大的, 在大学里主修音乐, 几乎每个星期天都在教堂的乐队里演奏.

我bwinios客户端的大部分时间都在做商业顾问, often dealing with issues of value and trying to make sense of “unusual” financial situations and transactions. 其中一些工作涉及到职业体育事业. 另外, I have also had the opportunity to do some valuation work related to the entertainment 和音乐 business.

So where and how did the recent collision of business, 体育 和音乐 occur in my head? The collision occurred when I read the Federal 税 Court’s opinion regarding the Estate of Michael J. 杰克逊去世(U.S. 税务法院,Dkt. No. 17152 - 13, TC备忘录. 2021-48, 5月4日, 2021), and when I watched the University of 匹兹堡 足球 team last Saturday beat Clemson, 四分卫肯尼·皮克特的比赛. 是的, 我说的是那个迈克尔·杰克逊, 流行音乐之王, 他于2009年去世, 和一个叫肯尼·皮克特的大学生, who is being recognized as one of the top players in college 足球 in 2021, 也是著名的海斯曼奖的候选人.

我知道现在很奇怪, 但 the thought crossed my mind – could 肯尼·皮科特 be worth more than Michael Jackson? Or, 更具体地说, 肯尼·皮克特的名字, 形象和肖像(NIL)比迈克尔·杰克逊的更有价值?

根据NCAA, 7月1日开始, 2021, 所有学生运动员都被允许利用他们的零成绩. 肯尼·皮科特 reportedly signed a NIL deal in July with the Oaklander Hotel and its restaurant to treat his blockers to weekly dinners. 皮克特可能也签了其他空球合约, 但, 至少, the Oaklander Hotel deal must be worth thousands of dollars given how much a group of college athletes, 免费招待晚餐, 可能吃!

迈克尔·J. Jackson, Deceased (the “Estate”) recognized that Jackson’s NIL was an intangible asset. The Estate valued Jackson’s NIL at the time of his death at $2,105 on the estate 税 return. 价值为2美元,000, the thought that 肯尼·皮科特’s NIL is worth more than Michael Jackson’s may not be crazy. 

肯尼·皮科特 is currently at the height of his popularity because of his athletic success, 从而导致许多潜在的NIL机会.  In contrast, when Michael Jackson died in 2009, he did not have any NIL deals in place. Jackson had earned nothing from his NIL during the years 2006, 2007 or 2008. This is not surprising since he had not released any new music for a number of years, had become infamous for unusual behavior and had become reclusive after allegations of child molestation. 正如一位潜在的营销商所说, “就像(杰克逊)一样甜美, 他一生中“不寻常”的个性游行, 让我很紧张。”, 称杰克逊的形象和肖像是“坦率的毒药”.

杰克逊有毒的形象和肖像, it is not hard to understand why the Estate valued Michael Jackson’s NIL at next to nothing at the time of his death. 然而, 在审计, 美国国税局(IRS)不同意这2美元,遗产管理人给杰克逊的零资产估价为000, 而是将杰克逊的零资产估价为4.34亿美元. 这是一个很大的不同!

因为迈克尔·杰克逊的NIL在感知价值上有着巨大的差异, 遗产最终被送到了美国税务法庭, 讨论杰克逊零分的价值, as well as the value of his ownership interests in the Sony/ATV Music Publishing and Mijac Music. 等到纠纷闹上税务法庭, 遗产管理公司将杰克逊的零美元的价值从2美元提高了,105 to $3,078,000——显然是大幅增加, 但仍然大大低于国税局宣称的价值.

长话短说, the 税 Court ultimately decided that Michael Jackson’s NIL was worth approximately $4.他死的时候有一千五百万.  尽管肯尼·皮克特可能有一些宝贵的空球机会, 无论是现在还是将来, 我认为他现在的身价还不如迈克尔·杰克逊.

我对迈克尔·杰克逊遗产案件的分析, 并比较杰克逊的NIL值和肯尼-皮克特的值, 强调了几个适用于所有估值的关键问题, 而不仅仅是名人的价值为零, 包括:

  • 日期的价值-记住价值是在一个时间点, 根据当时的经济状况和对收入的预期. 在这个例子中, 迈克尔·杰克逊的零分唱片在2009年有价值, 就在他死前, 那时他还不是世界上最有名的艺人, 但 instead was in serious financial difficulty and was infamous for unusual behavior and toxic allegations of heinous acts. There was a substantial risk at the time of Jackson’s death that the Estate would be able to monetize Jackson’s NIL at all. 关于肯尼·皮克特的讨论是关于2021年的价值, 当他目前处于运动巅峰时, with significant opportunity for future success on and off the 足球 field.
  • Known or knowable information at the date of value – the 税 Court identified several problems with the valuation of Jackson’s NIL by the IRS expert, importantly including the IRS’s estimates of licensing and merchandising revenues that were foreseeable (or in this case, 不可预见)在杰克逊去世之日. The Court identified that in spite of the fact that Jackson’s Estate successfully and skillfully rehabilitated Michael Jackson’s image after his death and were able to create hundreds of millions of dollars in revenue as a result, 那笔收入在他死时是无法预见的. 法院确认,可预见性不能是后见之明.

想知道更多关于迈克尔·杰克逊和音乐界的事情? 读一遍 税务法庭对Michael J. 已故的约翰·G·杰克逊. 布兰卡,共同执行人和约翰·麦克莱恩,共同执行人诉. 专员,这本书非常值得一读. 法庭涉及了很多有趣的细节,如果你像我一样, 然后你就需要在亚马逊音乐上下载迈克尔·杰克逊的精选集. 

你想知道更多关于肯尼·皮克特的事吗? 在接下来的几周去亨氏农场享受行动吧. 

干杯!

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