Did you know the NFL is tax exempt? That's right sports fans, the NFL is treated as a trade or association and pays no federal income tax. Now I personally am opposed to a corporate tax because it's just a hidden tax on consumers, but if one corporation must pay they all must pay. But again the NFL is treated as a non-profit, so about $91 billion is cheated from the taxman.
Good deal if you can get it, and guess what(?), the owners are still not satisfied. Jerry Richardson owner of the Carolina Panthers is very troubled over the sorry state of Bank of America Stadium. Apparently the 17 year old facility is woefully inadequate and in dire need of renovation. And when one considers the positive economic impact the Panthers have on the Charlotte metropolitan area, well Jerry just wants you to know that he has no intention of moving the team. But a little State money from Raleigh sure would quell any doubts...about leaving...the team, you know from Charlotte, which by the way he has no plans to do. So Jerry will probably get our money to head off any unplanned, not even considered move by the team.
You know, this just wrecks my head. We train the athletes in our high schools, colleges and universities at taxpayer expense, we don't require them to stay for the duration and get their education (b-ball one and done, pro football three years), we give them tax exempt status and we subsidize or outright pay for their facilities. And what do we get for our trouble? Ticket prices in section 534 for 110.00 bucks (and you better have good eyesight).
Now, compare this to London's Arsenal Football Club (soccer for you Yanks). They built a stadium in 2003 completely financed by the club itself at a cost of 470 million pounds. NO PUBLIC FUNDS WERE INVOLVED. It makes one think exactly who are the real socialists.
Hmmm....I'm not sure I can join you on this jihad. Here's why.
ReplyDeleteThe NFL IS a trade organization--that is, the corporate entity that exists to oversee the NFL and to provided the owners of the individual teams with an umbrella organization to represent their interests.
This does NOT mean that the 32 individual teams are so treated. They are indeed, individual businesses, subject to such tax regimes as are appropriate for them in the states in which they operate.
Don't get me wrong--there are a lot of sweetheart deals, preferable tax statuses and the like that are given to teams (see stadium deals, etc), but it is the teams that are taxed and operated as businesses. It is the teams who split revenue from TV deals and merchandizing. Yes--the NFL has gorgeous offices and big salaries, etc. etc. but those big salaries are subject to individual income taxes like everyone else.
I guess the point is, that while the NFL may seem like a giant money maker/tax evasion machine, it is essentially a pass-through organization made up of members who are taxed according to their profitability.
Yes I know, the front office just does the accounting and doles out the money, but tax exempt? Sorry CW, I don't see it. Even still that's only one issue addressed.
ReplyDelete