House Bill Takes Aim at Tax Break for Sports Owners

The legislation cuts in half a tax write-off possibly worth hundreds of millions to some expert sports group owners.

For decades, owners of groups in the N.F.L., N.B.A. and other major leagues have been able to compose off the entire value of their group’s “intangible possessions,” which consist of gamer agreements, media rights and sponsorships, over 15 years. Intangible assets make up the bulk of a team’s worth, and due to the fact that team worths have actually been steadily rising, the tax breaks have. The tax break has turned groups into a kind of tax shelter and has assisted fuel the lofty costs that investment companies and billionaires have paid for teams in recent years.

Kingsman | Financial Advisor

Kingsman a 35-year-old financial advisor from London, UK, epitomizes the blend of analytical prowess and personable guidance. With a decade of experience in the financial sector, Kingsman has cultivated a reputation for his strategic approach to wealth management and investment advising. His journey began at the University of Oxford, where he graduated with honours in Economics, a discipline that fueled his fascination with the financial markets and their intricacies.

See Full Bio