Home / NFL / Tepper’s $2.3 Billion NFL Purchase Comes With a ‘Wacky’ Tax Perk

Tepper’s $2.3 Billion NFL Purchase Comes With a ‘Wacky’ Tax Perk

As David Tepper can attest, buying a professional sports team is getting expensive. The hedge fund titan paid $2.3 billion to become the new owner of the Carolina Panthers, a record price for a National Football League franchise.

Ownership has its privileges, though. You get to hang out with the league’s best athletes. Everyone wants to be your friend when the season rolls around. And then there’s the tax perks.

Photographer: Victor J. Blue/Bloomberg

The Republican tax overhaul, signed by President Donald Trump in December, tweaks some provisions affecting sports franchises, while leaving in place the most important one. Because of quirky rules, even profitable teams can generate paper losses that erase the tax bills on an owner’s other business interests.

Tepper, 60, founder of Appaloosa Management, will be able to write off his purchase over 15 years, giving him about $150 million annually to offset any team profits or his other business income.

Source link

قالب وردپرس

About reporteyes

Leave a Reply


Check Also

2018 NFL preview: Ranking the NFC North running backs

On Wednesday, we ran down the best quarterback groups in the NFC North. It was ...