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Lots to get through today, so let’s get to it.
I went in deeper on the billionaire sports owner tax loophole news for Baseball Prospectus earlier in the week, getting into the origins of the loophole, what it is, why it’s a problem, and why we should hope the IRS decided to remove or rewrite it. The shorter version of it is that it would keep, say, a team that costs $2 billion from pretending 80 percent of the team’s valuation is going to lose value instead of gaining it like what happens with sports franchises simply for existing, allowing them to avoid $650 million in taxes over the next 15 years that they really should have paid. The longer version, well, I wrote that for BP, and while you need a subscription for that, at the least, you could always read the ProPublica reporting from three years ago on the subject.
Continue reading “Notes: Tax loophole, MLB realignment, Oakland sells Coliseum, NCAA settlement”