Utilities hold at 14 times earnings, carrying 4 percent yields, but minimal incremental free cash flow to bump up dividends more than pennies per share.
Cash-flow from sponsorships was minimal and the administrators had already pulled out the cash from player wages, kit sponsorship and future payments due the club from the sale of several players.
The lack of the inside-basis might have minimal effect on federal tax due, since the capital loss on liquidation of the partnership would offset the flow-through gain.