NFL not a fan of proposed tax bill

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More and more NFL owners may be regretting the millions they gave to the President, because the President may be taking away the ability of NFL owners to get millions from the government.

The proposal to overhaul the tax code includes a provision that would eliminate tax breaks for cities and states that borrow money to build stadiums. And the NFL, according to Andrew Beaton of the Wall Street Journal (via SportsBusiness Daily) is pushing back.

“We believe that the construction of new stadiums and renovations of stadiums are economic drivers in local communities,” NFL spokesman Joe Lockhart told Beaton. “If the idea is to promote economic growth, this would be a step backwards.”

The proposed tax bill would target the tax exemption on municipal bonds, and those bonds have become a key piece of the $750 million in public funding that will build a new stadium for the Raiders in Las Vegas.

It’s way too early to suspect that the provision, if it becomes law, would actually keep the stadium from being built, but it’s definitely a potential complication for the NFL — and just another thing that a league suddenly under siege needs to worry about.

41 responses to “NFL not a fan of proposed tax bill

  1. If the plan is not good for the billionaire owners of the NFL, then it’s probably good for me.

  2. And the GOAT Prez continues to make our country great again.
    Time for these billionaires who dont give a crap about the fans, to pay for their own stadiums.

    Next, he should enact laws to levy heavy taxes upon the owners who continue to let their EMPLOYEES disgrace this country, disrespect our military and flag, and make a mockery of our anthem.
    Those owners and Goodell should be forced out

  3. How can there be economic growth when these billionaires/cities charge so much just to watch a game at these taxpayer supported stadiums?

  4. I know I’m happy. As a family making 500k/year we’ve paid a little over 110k in Alternative Means Tax on top of the 39% since 2009. No more AMT means I can fund my sons trust more easily, dump more cash into the market and protect our estate from the death tax. It’s awesome. Oh yeah, I’m happy families making 60k will save a few hundred too.

  5. It should also be illegal to send a team overseas and giving up a home game for cities with publicly financed stadiums. The city loses revenue and the taxpayers lose the ability to attend a game in a stadium they are paying for.

  6. “We believe that the construction of new stadiums and renovations of stadiums are economic drivers in local communities,”

    I’m a conservative, but this statement is patently false. It’s corporate welfare.

  7. Honestly with the volume of cash that goes through the NFL – All the NFL would need to do is tack small fee based on the price of ticket, put it in the bank for stadium rebuilds. 1 dollar per avg 50k attendance per season is 12.8M (it is tiered so that number is the low end) and there are plenty of other areas, Commish and other office salaries and there would be another 50 to 100M per year. Plenty of money to pay for a stadium ever few years.

  8. An economic engine? More like an economic drain. Taxpayers have been taken to the cleaners by those wanting new football stadiums. Today, it was reported UC-berkeley has to use funds meant for academic use to help pay for the debt service of Memorial Stadiums renovation costs. Just ask yourself this question:If an NFL stadium is such a big money earning asset, why don’t most NFL team owners want to own one.

  9. “We believe that extorting billion dollar palaces from the taxpayers so we can laugh all the way to our banks, vast estates, private jets and all that other good stuff we get for screwing our fanbases and the tax paying public is the way to go.”

    There, you misquoted him, I fixed it for you

  10. It’s not just stadium projects that are at risk here. I am all in favor of the billionaire owners paying for their own meal tickets but there are some serious flaws with the bill as it is written that could hurt the White House’s stated goal of massive transportation infrastructure improvements. Provided the bill gets the right tweaks and no longer feeds the hogs then we should all be in favor of it.

  11. idislikespeciousness says:
    November 4, 2017 at 9:25 pm
    I know I’m happy. As a family making 500k/year we’ve paid a little over 110k in Alternative Means Tax on top of the 39% since 2009. No more AMT means I can fund my sons trust more easily, dump more cash into the market and protect our estate from the death tax. It’s awesome. Oh yeah, I’m happy families making 60k will save a few hundred too.

    People who are smart enough to make a lot of money usually are smart enough not to talk about it in public, what’s your excuse?

  12. People who are smart enough to make a lot of money usually are smart enough not to talk about it in public, what’s your excuse?

    I guess the anonymity of this forum is liberating. The President has also ushered in a new era where we no longer have to be so discrete. Rich is in and it’s awesome.

  13. Della Street says:
    November 4, 2017 at 9:06 pm
    If the plan is not good for the billionaire owners of the NFL, then it’s probably good for me.
    %%%%%%%%%%%%%%%%%%%%%%$$$$$$$$$$$$$$$$$$$$$$$$$&&&&&&&&&&&&&&&&&&&
    And you are REALLY nieve enough to
    think they are going to eat that money loss?
    Hold onto your Checkbooks folks, a Ticket price rise is on the way, and it will be billed as
    essential and totally justifiable!
    $$$$$$$$$$$$$$$$$$$$$$%%%%%%%%%%%%%%%%%%$$$$$$$$$$$$$$$$$$$$$$$$$$idislikespeciousness says:
    November 4, 2017 at 9:25 pm
    I know I’m happy. As a family making 500k/year we’ve paid a little over 110k in Alternative Means Tax on top of the 39% since 2009. No more AMT means I can fund my sons trust more easily, dump more cash into the market and protect our estate from the death tax. It’s awesome. Oh yeah, I’m happy families making 60k will save a few hundred too.
    @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@

    Just a little bit out of touch there and bragging about how much money you have to throw away

  14. FreewayJim says:
    November 4, 2017 at 10:34 pm
    idislikespeciousness says:
    November 4, 2017 at 9:25 pm
    I know I’m happy. As a family making 500k/year we’ve paid a little over 110k in Alternative Means Tax on top of the 39% since 2009. No more AMT means I can fund my sons trust more easily, dump more cash into the market and protect our estate from the death tax. It’s awesome. Oh yeah, I’m happy families making 60k will save a few hundred too.

    People who are smart enough to make a lot of money usually are smart enough not to talk about it in public, what’s your excuse?

    **************************************************************

    My guess is that the numbers he quoted are as imaginary as his family, friends, and job

  15. See what happens when you vote in somebody that isn’t a career politician? They get stuff done, while not worrying about the next election. If only the career pimps in congress would cooperate more, more things would get done too.

  16. “The proposed tax bill would target the tax exemption on municipal bonds”

    Actually it targets the tax exemption on municipal bonds used for stadium constructions of sports teams, not for municipal bonds in general.

  17. For some strange reason i have a feeling trump wouldnt be doing this if hed been allowed to purchase an nfl team instead of being kicked to the curb a couple times like he was.

  18. The simple answer is, when an owner signs an agreement using taxpayer funds to build a stadium, he can either:

    A: Have the community build a basic 60,000 seat stadium, sort of a basic college stadium. Team keeps naming rights/revenue, parking, and profits from 355 other days of the year. The going rate is $ 300M-$550M. If the owner/NFL requests luxury suites, that’s on his dime to upgrade the design, and he can keep those profits.

    B: Sign an agreement that states in clear terms that if the team is sold for a profit (or relocated) before the taxpayers funds have been restored, a scaling percentage of the profit shall be used to pay down the debt. Example, if the Wilfs sell the Vikings so soon after the stadium agreement was signed, a large portion of the stadium debt would be paid immediately. Suppose they sell in 2025, it’ll be 8 less years of stadium debt compared to selling in 2017.

    It’s time for communities to matter in America again. Fund our schools, roads, parks, etc instead of paying exorbitant ransoms to businesses privately owned by billionaires.

  19. Next up, doing away with religious churches tax exemption. This president has got no rhyme nor reason to his administration.

  20. This won’t stop public financing of stadiums. It’ll just make it more expensive for the communities that do it. Nice job.

  21. OK, all of you anti-NFL/sudden college football fans praising this tax bill should consider this:

    The same bill proposes to eliminate the tax deduction for family charitable organizations donations to college sports foundations and purchases of season tickets. If that happens you can kiss all those big booster donations goodbye. No more facility upgrades, no more huge college stadiums.

    Interesting how that anti-billionaire theme works against you.

  22. Didn’t even vote for the guy, but I’m with him 100% on this. You guys are loaded. Build the stadiums yourselves instead of bullying cities into funding them & giving you sweetheart leases.

  23. I’m 100% in support of any bill that takes away tax breaks from companies that don’t appreciate our country…Maybe Iran has better tax breaks for their pro football teams…go build stadiums there…

  24. With the exception of this one part, the NFL owners (like most big businesses owners) must love the tax bill, as the House Tax Bill is written to majority to reduce taxes rates (especially the top percentages) especially for businesses owners and especially especially for C-corp companies.

    It will be harder to get public funding to build stadiums, but as big businesses owners they’ll be the real winners.

  25. Las Vegas is shovel ready to start on the new stadium for the Raiders. Governor Sandoval signed a bill to increase the hotel tax to raise 750 million for the new stadium. Can’t wait for the groundbreaking ceremony. There is much work to be done.

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