Taxes
Billionaires Enjoy Tax Breaks From Owning Sports Teams: ProPublica
- Some billionaire team owners pay lower rate than star players
- NBA’s Ballmer, NFL’s Tepper among the owners who’ve benefited
Photographer: Christian Petersen/Getty Images
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When it comes to America’s favorite sports, owning a team comes with perks: the best seats in the house for you and your friends, access to the players and, of course, the option of lowering your taxes.
Some of the wealthiest owners in professional sports are taking advantage of strategies to reduce their tax burden, often paying a lower rate than the athletes who play for them, according to a report Thursday by ProPublica that cites confidential Internal Revenue Service documents.