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Bill Would Raise Franchise Value of Sports Teams

Date: August 2, 2004
QUOTE: Owners of professional sports teams stand to gain tens of millions of dollars in the values of their franchises because of a single sentence buried deep in a sprawling piece of export-tax legislation...

ABSTRACT: A proposed change in legislation to go before Congress to allow sports franchise owners to reduce taxes paid on their teams as well as their own earnings was questioned over its intent. Some said that the legislation, which also would help Oldsmobile and some liquor companies, is only a tax break for bigger businesses, but Republicans argued that it will create more jobs and that some current tax law needs change. --- Sari Kent

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