NEW ORLEANS LOUISIANA SAINTS, LTD. PARTNERSHIP v. COMMISSIONER

Docket No. 2632-94.

73 T.C.M. 2883 (1997)

T.C. Memo. 1997-246

New Orleans Louisiana Saints, Limited Partnership, Benson Football, Inc., Tax Matters Partner v. Commissioner.

United States Tax Court.

Filed June 2, 1997.


Attorney(s) appearing for the Case

Douglas D. Drysdale, Trevor W. Swett III, and Matthew W. Frank, Washington, D.C., for the petitioner. Derek B. Matta, for the respondent.


MEMORANDUM FINDINGS OF FACT AND OPINION

WRIGHT, Judge:

Respondent issued five notices of final partnership administrative adjustments to petitioner, determining adjustments for taxable years 1985 through 1989. After concessions by the parties, the sole issue for consideration is whether any portion of the amount petitioner paid for the purchase of the New Orleans Saints football franchise is allocable to a leasehold which grants petitioner certain rights...

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