Currently, team owners can get enormous tax benefits through amortization — deducting the initial purchase cost from their taxable income over 15 years.
- Sports
- Sports
The deals came almost three months after the NFL allowed private equity firms to purchase stakes of up to 10% in individual teams at a meeting Aug. 27.
- Sports
The National Basketball Association Hall of Famer has filed a joint lawsuit accusing the race circuit of hoarding revenue and engaging in unfair negotiations with partners, Front Office Sports reports.
- Sports
LVMH and the organizers of the Formula One races have signed a major sponsorship deal potentially worth $1 billion, with the French luxury goods group taking over from Rolex.
- Sports
When Major League Pickleball launched in 2021, teams were valued at under $1 million. Now as the league has grown to 24 teams, sources say clubs are now valued between $10 million and $15 million.
- Sports
Ryan Smith wants the NBA’s Utah Jazz to play in a revamped arena, flanked by bustling plazas and in the shadow of a new skyscraper. Residents and visitors would subsidize the development through a higher sales tax.