A Tax Shelter for the Rich Sports Fan with 500 Hours to Spare

Overview


Bobbi Bierhals suggested that, in addition to receiving certain tax benefits, those high wealth individuals who buy pro sports teams “love the sport, and it’s fun. A lot of these guys are big kids living their childhood dreams.” However, Ms. Bierhals (who has advised on such transactions) noted the disadvantages: payroll costs, league ownership rules, and the risk that if a team does badly “the whole city can hate you.” Read the full article.