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.
