$210M in Luxury Tax should go towards funding stadiums rather than taxpayer
December 25, 2023
$210M in Luxury Tax should go towards funding stadiums rather than taxpayer
2 comments
>The first $3.5 million of tax money is used to fund player benefits and 50% of the remainder will be used to fund player Individual Retirement Accounts. The other 50% of what’s left goes to a supplemental commissioner’s discretionary fund intended to be given to teams receiving revenue-sharing money that have grown their non-media local revenue over several years.
IMO, that last part should go towards fixing stadiums (like Milwaukee) or going into an account to help fund a new stadium (like Oakland or Tampa Bay)
While I agree that owners should pay for stadiums. Individual owners should pay for their OWN stadiums. Not reap the benefits of teams over the luxury tax.
2 comments
>The first $3.5 million of tax money is used to fund player benefits and 50% of the remainder will be used to fund player Individual Retirement Accounts. The other 50% of what’s left goes to a supplemental commissioner’s discretionary fund intended to be given to teams receiving revenue-sharing money that have grown their non-media local revenue over several years.
IMO, that last part should go towards fixing stadiums (like Milwaukee) or going into an account to help fund a new stadium (like Oakland or Tampa Bay)
While I agree that owners should pay for stadiums. Individual owners should pay for their OWN stadiums. Not reap the benefits of teams over the luxury tax.