Tycoons

Washington, D.C. — A significant tax provision impacting sports team owners has been eliminated as a major spending bill transitioned from the House to the Senate. Initially included in the House version, the provision would have limited the ability of sports owners to fully deduct the value of intangible assets like player contracts and media rights over a 15-year period. However, the final legislation signed into law does not feature this measure. Sources indicate that while the Senate’s modifications removed this particular adjustment, the House did not reinstate it in their negotiations. The proposed change … Read more