Money Isn't Everything
You may not track sports like I do, but recent articles regarding inheritances and sports teams have been highlighted in national sports media coverage. Both have a very similar basic premise, at least to me. Money can do bad things to people.
The first story is related to the Los Angeles Chargers, formerly of San Diego, an NFL football team own by the Spanos family. For years, Dean Spanos had acted as the owner based on inheritance from his parents. However, the team’s true ownership interest is divided between a family trust, Dean, and his sister. Recently, his sister has gone to court to try to take control of various securities within the ownership triad making it so she becomes the primary owner. Obviously, this is not being well accepted by Dean.
The other case involves the Baltimore Orioles, a major league baseball franchise. Peter Angelos, longtime owner of the Baltimore orioles, had to relinquish operating control of the team in 2017 because of disabilities. Recently, one of his sons is suing his siblings and his mother to gain control of the team’s operations. Again, this was not well received by the rest of the family.
These are enormous, multibillion-dollar issues leading to court fights. But the premise is the same. I remember my dad telling me the story of when his grandparents passed away, which caused issues between my grandfather and his two brothers, significant enough where things were never the same. In this type of issue, where money is at stake, this issue is unfortunately too recognizable within families… particularly when the matriarch or patriarch passes.
If I could lay out all my money in one-dollar bills on the floor of my home, there’d be quite a number. And one dollar bill would probably look like just another. But what I do know is I only have two sisters. We grew up in the same house, had many of the same experiences, hold many of the same values, and hold a bond that is my mother says “when you stick one, all three bleed.”
I find it remarkably sad that when we have so few people we can truly trust and love, families are torn apart by inheritance and money. It always seems like after the fact, after there’s question of who has access or control of the dollars, but the issues arise. Values are things that carry you through the best and worst of times. I guess I just choose to value my sisters and my family over other material things.
