Red Sox Delay on Devers Signing Costs Him $760,000 In New State Tax
Red Sox fans may finally be heartened their team has secured homegrown star Rafael Devers with a contract extension reported to be worth $331 million, including a $20…
taxes
Tax Deduction That Aided Team Buyers and Spurred Values Fades Out
The tax man is, very slowly, making it slightly less attractive to buy a team. For the past five years, the ultrawealthy buyers of sports franchises have taken…
With NIL Money Comes an Inescapable Fact: Taxes Are Owed
College athletes last July finally got the right to make money off their name, image and likeness (NIL). They also won something else: the headache of filing and paying…
Biden Billionaires Tax Would Ding Sports Team Owners
Sports team ownership has been a winning bet over the past three decades, with 102 North American franchises now worth $1 billion or more. But a new tax plan would hit…
NFL Fines See Players Paying Twice After Trump Tax Overhaul
In the NFL, Tuesdays can be expensive. Around the league, players walk into their locker rooms each week, hoping not to find a yellow slip of paper in their stall…
Most U.S. Olympians to Avoid Federal Taxes on Tokyo Medal Prizes
American athletes who win medals at the 2020 Tokyo Olympic and Paralympic Games will not only take home prestigious honors. They’ll also pocket cash prizes. And if they…
Las Vegas Raiders Avoid State Income Taxes in Nevada Move
It’s safe to say the first year of the Raiders in Las Vegas hasn’t quite lived up to expectations. On the field, Jon Gruden’s team is 6-5—an improvement from last year’s…
More Sun and Lower Taxes: Raptors to Start Season in Tampa
The Toronto Raptors will start the 2020-21 NBA season playing home games more than 1,300 miles from Scotiabank Arena. The team’s president, Masai Ujiri, announced in a…
Harden Faces a Taxing Choice in Potential New York Move
Houston Rockets star James Harden reportedly wants to join Kevin Durant and Kyrie Irving on the Brooklyn Nets. It would cost him to join them. For starters, the Rockets…
Masters Winner Johnson Prevails in Tax Game by Not Winning in NY
By winning the 2020 Masters Tournament at Augusta National Golf Club in Augusta, Ga., Dustin Johnson won what is often considered the most prestigious tournament in the…
Three Ways a Biden Presidency, Proposed Tax Plan Could Affect Sports Ownership
Earlier this week, Sportico‘s editor-in-chief Scott Soshnick reported that hedge fund titan Steve Cohen reached a deal to purchase the New York Mets at a $2.42 billion…
Which State Will Catch Mookie Betts’s Taxes?
After signing a 12-year, $365 million contract extension with the Los Angeles Dodgers last Wednesday, Mookie Betts ensured his place among the wealthiest Americans, but…
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