Submitted by washingtonpost t3_10x8hqo in sports
predictingzepast t1_j7qzqic wrote
The NFL needs to lose its charity exemption, purposly drags its feet thru red tape they put out, take a large portion of events it supports (at least up til recently) such as cancer research and the military, then uses pressure to force cities to 'loan' money for new stadiums without ever planning to pay back..
number1stumbler t1_j7r4og1 wrote
Too late, they gave up tax exempt status and will take advantage of the fact that as a private company, they can now keep all their affairs private: https://www.brysonlawfirm.com/news/122-touchdown-pay-up-nfl-is-a-nonprofit-no-more.html
predictingzepast t1_j7r9naf wrote
I'm really out of the loop, but knowing the NFL intentionally gave up tax exempt status and is paying 10mil in taxes on 10billion a year revenue, that doesn't make me feel much better..
P1mpathinor t1_j7reaz0 wrote
Nearly all of the profit just gets passed on to the individual teams, who pay their own taxes on it.
mikebailey t1_j7s3esl wrote
Laughs in Dan Snyder
Spinebuster1 t1_j7skg9o wrote
Oof. Not Snyder.
mikebailey t1_j7skouv wrote
Tax code is more of a suggestion, like congressional subpoenas.
HenryKushinger t1_j7vf1jr wrote
What's the voice behind Master Shake and Granny Squid have to do with the NFL?
[deleted] t1_j7sgm6a wrote
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kingjoey52a t1_j7ssjqa wrote
The NFL only pays that much in taxes but half that revenue goes to players (and is taxed) and the other half to the teams (and is taxed). The league was never meant to make money, it’s basically the collective bargaining group for the teams that make money.
Edit: and I don’t think they were ever a charity, just a non profit because all their “profit” goes to the teams.
[deleted] t1_j7sgcwm wrote
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ptabs226 t1_j7slwua wrote
NFL needs to lose its antitrust exemption
>That’s because back in the early 1960s, Congress gave the league an exemption to federal antitrust laws, permitting all of the individual teams to act as a single entity when negotiating TV contracts. By bargaining together, the owners have been able to land dramatically more lucrative broadcasting deals. At the time it was drafted, the antitrust exemption very well may have been a benefit to the public, because it required that broadcasters air every team’s games in their home markets, says antitrust economist Andy Schwarz. But subsequent advances in technology, Schwarz says, have made it “an obsolete exemption.”
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