Chiefs Owner Lamar Hunt has transferred 80% ownership
     of the team to his children "to ensure that the team remains
     in his family," according to Kent Pulliam of the K.C. STAR. 
     Hunt and his wife, Norma, still own 20% of the team, and he
     will continue to serve as team owner.  Hunt's daughter and
     three sons each received 20% of the franchise, which was put
     into a trust.  Hunt said "the children are the beneficiaries
     of those trusts over a long period of time."  All four of
     Hunt's children live in Dallas, "but have ties" to K.C. 
     Hunt said the move "does not change the Chiefs' status in
     Kansas City and is merely part of a long-range financial
     plan."  The transfer of ownership "eases exorbitant estate
     taxes" Hunt's children would have had to pay upon inheriting
     the team.  Pulliam notes that the move has "already saved
     the Hunt family more" than $35M in potential taxes."  Hunt:
     "It's the smart thing to do ... If you wait until you die,
     there are some huge estate taxes that would come due. I
     don't want to have a situation where this large an asset
     would be hanging over my estate. ... It is more difficult
     for family ownership now because the prices have gotten
     larger and because of the estate taxes" (K.C. STAR, 3/1).

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